2021-04-21 22:31Business Overview - Postal Savings Bank of China has nearly 40,000 business outlets and serves over 600 million individual customers[3]. - In 2020, the bank ranked 22nd in Tier 1 capital among the top 1000 global banks according to The Banker magazine[6]. - The bank received ratings of A+ from Fitch, A1 from Moody's, and A from S&P, all with a stable outlook[6]. - The bank aims to enhance its service capabilities and transform into a customer-trusted, distinctive, and innovative large retail bank[6]. - The bank has introduced ten domestic and foreign strategic investors since 2015, enhancing its market position[12]. Financial Performance - Operating income for 2020 reached RMB 286,537 million, an increase from RMB 277,116 million in 2019, representing a growth of 4.8%[26]. - Net profit for 2020 was RMB 64,318 million, up from RMB 61,036 million in 2019, reflecting a year-on-year increase of 3.7%[27]. - Total assets at the end of 2020 amounted to RMB 11,353,263 million, compared to RMB 10,216,706 million at the end of 2019, indicating a growth of 11.1%[26]. - Customer loans totaled RMB 5,716,258 million at the end of 2020, an increase from RMB 4,974,186 million in 2019, marking a growth of 14.9%[26]. - Customer deposits reached RMB 10,358,029 million at the end of 2020, up from RMB 9,314,066 million in 2019, representing a growth of 11.2%[26]. Risk Management - The bank's asset quality remains strong, supported by a comprehensive risk management system[6]. - The non-performing loan ratio at the end of 2020 was 0.88%, slightly up from 0.86% in 2019[26]. - The provision coverage ratio at the end of 2020 was 408.06%, compared to 389.45% in 2019, indicating an increase in loan loss provisions[26]. - The company actively manages various risks and has not identified any significant risks affecting future strategic development[22]. Digital Transformation - The bank is focused on a transformation towards digitalization, integration, and efficiency in its operations[6]. - The company has completed its "13th Five-Year" IT planning, launching 16 enterprise-level platforms to improve product innovation and user experience[56]. - Information technology is viewed as a core driver of business development, with significant investments in platforms supporting over 600 million customers[56]. - The bank plans to invest 3% of its operating income annually into information technology to enhance digital financial services[70]. Customer Service and Strategy - The bank's retail banking strategy focuses on serving rural areas, urban residents, and small and medium-sized enterprises, leveraging a unique "self-operated + agency" model[48][50]. - The bank aims to enhance its personal financial services, with a focus on consumer credit, small loans, and credit cards, to drive high-quality growth in retail business[51]. - The bank has launched specialized marketing activities targeting youth and senior customers to enhance customer retention and service offerings[160]. - The bank serves 622 million personal customers and manages retail customer assets (AUM) of CNY 11.25 trillion, an increase of over CNY 1 trillion from the previous year[153]. Sustainable Development - The bank is actively involved in providing inclusive financial services and supporting green finance and targeted poverty alleviation[6]. - Green loans grew by 30.20%, reaching CNY 280.94 billion, reflecting the company's commitment to sustainable finance[64]. - The company is committed to sustainable development and aligning with national strategies for economic modernization[6]. Capital Management - The company reported a statutory surplus reserve of RMB 6.249 billion for the year 2020[20]. - A total of RMB 13.572 billion was allocated for general risk reserves during the same period[20]. - The cash dividend distributed to shareholders was RMB 2.085 per 10 shares, totaling approximately RMB 19.262 billion[20]. - The company successfully issued CNY 80 billion in perpetual bonds and completed a CNY 30 billion A-share private placement, enhancing its capital strength and risk resistance[66]. Corporate Culture and Compliance - The corporate culture emphasizes transparency, responsibility, and resilience, aligning with the new development philosophy[58]. - The company is committed to prudent compliance and risk management as essential pathways for sustainable growth[60]. - The company encourages a collaborative environment where all employees can contribute and excel[61].