2020-04-22 22:53Customer Base and Service Network - Postal Savings Bank of China serves over 600 million personal customers and operates nearly 40,000 business outlets[2]. - The total number of service outlets reached nearly 40,000, serving over 600 million individual customers[44]. - The company has a distribution network defined across various economic regions in China, including the Yangtze River Delta and the Pearl River Delta[14]. Financial Performance - The company reported a total profit of RMB 60.68 billion for the year 2019, with a cash dividend distribution of RMB 182.83 billion to shareholders[17]. - Operating income for 2019 reached RMB 277,116 million, an increase from RMB 261,245 million in 2018, representing a growth of approximately 6.7%[24]. - Net profit attributable to shareholders was RMB 60,933 million in 2019, up from RMB 52,311 million in 2018, indicating an increase of approximately 16.5%[24]. - The company reported a net profit of 61.036 billion yuan for 2019, an increase of 8.652 billion yuan, representing a growth of 16.52%[57]. - Operating income reached 277.116 billion yuan, up by 15.871 billion yuan, reflecting a growth of 6.08%[57]. Asset and Liability Management - Total assets as of December 31, 2019, amounted to RMB 10,216,706 million, compared to RMB 9,516,211 million in 2018, marking a growth of around 7.4%[25]. - The bank's total liabilities reached RMB 9,671,827 million in 2019, compared to RMB 9,040,898 million in 2018, reflecting an increase of about 7%[25]. - Customer deposits reached RMB 9,314,066 million in 2019, up from RMB 8,627,440 million in 2018, representing an increase of about 7.9%[25]. Risk Management - The bank emphasizes a comprehensive risk management approach, maintaining excellent asset quality[2]. - The non-performing loan ratio remained stable at 0.86% as of December 31, 2019, unchanged from the previous year[28]. - The provision coverage ratio improved to 389.45% in 2019, up from 346.80% in 2018[28]. - The bank has implemented a robust credit risk management framework, focusing on high-risk sectors such as coal, steel, real estate, and non-ferrous metals, with a strategy of "one enterprise, one policy" to mitigate large risk exposures[187]. Capital and Ratings - The bank's Tier 1 capital ranked 22nd in the Global 1000 Banks list by The Banker magazine in 2019[2]. - The bank received an A+ rating from Fitch and an A1 rating from Moody's, aligning with China's sovereign ratings[2]. - The core tier 1 capital adequacy ratio increased to 9.90% in 2019 from 9.77% in 2018[28]. Digital Transformation and Technology Investment - The bank is focusing on digital transformation and agile development to enhance customer service and market responsiveness[46]. - The bank plans to invest approximately 3% of operating income annually into information technology[46]. - The bank's technology team doubled in size compared to the previous year, enhancing its capacity for innovation and development[162]. - The bank's digital transformation efforts include the launch of mobile banking version 5.0, which features voice search capabilities[130]. Commitment to Social Responsibility - The bank is committed to supporting the real economy and fulfilling social responsibilities through inclusive finance and green finance initiatives[2]. - The bank's commitment to rural finance and support for small and medium enterprises is a core part of its business strategy[2]. - The balance of financial precision poverty alleviation loans was 82.456 billion yuan, with an increase of 21.259 billion yuan[1]. Customer Loans and Deposits - Customer loans totaled RMB 4,974,186 million at the end of 2019, an increase from RMB 4,276,865 million in 2018, representing a growth of approximately 16.3%[25]. - The total amount of customer loans was RMB 4,655.91 billion, with an average yield of 4.83%, compared to RMB 3,990.67 billion and 4.96% in the previous year[67]. - The personal consumer loan balance reached CNY 2.02 trillion, an increase of CNY 323.96 billion, representing a growth of 19.13% compared to the previous year[126]. Employee and Organizational Development - The total number of employees reached 174,406, with 74.11% holding a bachelor's degree or higher[172]. - The company aims to enhance talent acquisition and development, focusing on technology and high-end management personnel[170]. - The company has implemented a training system that includes centralized and remote training, enhancing the professional development of its workforce[170]. Strategic Goals and Future Plans - The bank's strategic goal is to become a trusted, distinctive, and innovative large retail commercial bank[2]. - The bank aims to create a "data-driven" customer evaluation system to enhance risk management and operational efficiency[131]. - The bank plans to continue enhancing its retail banking strategy and support for national strategic projects and economic transformation[65].