Bank Of Jiangsu(SH:600919)2017-03-19 16:00Financial Performance - The company achieved an operating income of CNY 31.36 billion, representing a year-on-year growth of 11.81%, and a net profit after tax of CNY 10.64 billion, up by 11.91%[16]. - The company reported a total operating income of RMB 31,359,045 thousand for 2016, an increase of 11.81% compared to RMB 28,047,070 thousand in 2015[42]. - The net profit attributable to shareholders was RMB 10,610,579 thousand, reflecting an increase of 11.72% from RMB 9,497,433 thousand in the previous year[42]. - The total profit reached 13.52 billion yuan, up by 1.44 billion yuan, or 11.93% year-on-year[80]. - The net interest income for the year is CNY 25,245,088 thousand, resulting in a net interest margin of 1.70%[57]. - The net commission and fee income increased by 49.30% year-on-year, reaching CNY 5.82 billion, driven by steady development in intermediary business[99][101]. Asset and Liability Growth - As of the end of 2016, the total assets of the group reached CNY 1.60 trillion, an increase of 23.87% year-on-year[16]. - The total assets of the company reached RMB 1,598,292,446 thousand, a 23.87% increase from RMB 1,290,333,336 thousand in 2015[42]. - Total liabilities amounted to 1,514.1 billion RMB, reflecting a growth of 23.62% year-on-year[107]. - The company's net assets attributable to shareholders increased by 26.87% to RMB 82,665,060 thousand compared to RMB 65,155,806 thousand at the end of 2015[42]. Loan and Deposit Information - The deposit balance was CNY 907.41 billion, growing by 16.87%, while the loan balance reached CNY 649.38 billion, up by 15.59%[16]. - The balance of loans in both domestic and foreign currencies was 649.38 billion yuan, up by 87.60 billion yuan, or 15.59% year-on-year[81]. - The number of small and micro enterprise clients reached 28,200, with a loan balance of 270.3 billion yuan, maintaining the highest market share in Jiangsu Province[85]. Risk Management - The company maintained a non-performing loan ratio of 1.43%, unchanged from the beginning of the year[17]. - There are no foreseeable major risks identified in the company's operations, with existing risks being effectively managed[30]. - The company aims to maximize shareholder value while controlling risks within acceptable limits[193]. - The risk management framework includes credit risk, market risk, operational risk, liquidity risk, legal compliance risk, and reputation risk[194]. Capital Adequacy and Financial Ratios - The core Tier 1 capital adequacy ratio is 9.01% for the group and 8.93% for the bank[48]. - The capital adequacy ratio was reported at 11.51% in 2016, slightly down from 11.54% in 2015, but still above the regulatory requirement of 10.5%[157]. - The coverage ratio for loan loss provisions was 180.56% in 2016, exceeding the regulatory requirement of 150%[157]. Innovation and Market Expansion - The company has developed over 20 innovative financial products for small enterprises under the "Rongzhida" brand, focusing on providing comprehensive financial services[74]. - The company aims to expand its operations beyond Jiangsu, establishing branches in major cities such as Shanghai, Shenzhen, Beijing, and Hangzhou[73]. - The company launched several online loan products, enhancing its internet finance capabilities and big data applications[96]. Awards and Recognition - The company was recognized as an "Outstanding Enterprise in Jiangsu Province" and received several awards for its financial services to small and micro enterprises[12]. Future Plans and Strategic Goals - The company plans to enhance its core competitiveness and value creation while adhering to risk management and regulatory compliance in 2017[19]. - The company has revised its five-year strategic plan to focus on market changes and target customer groups, aiming for a "characterized, intelligent, comprehensive, and international" banking model[150]. - The company anticipates challenges from economic structural adjustments and potential credit risks due to the cleanup of "zombie enterprises" in the near term[152].