2018-04-19 16:00Financial Performance - Bank of Communications ranked 171st in Fortune Global 500 with operating income[6] - The bank's total assets reached RMB 7.5 trillion, an increase of 8% year-on-year[6] - The bank's net profit attributable to shareholders was RMB 212.09 billion, representing a growth of 5%[11] - The bank plans to distribute a cash dividend of RMB 0.2856 per share, totaling RMB 212.09 billion[11] - The net profit attributable to shareholders for 2017 was RMB 62,295 million, a decrease of 7.5% compared to 2016[24] - The total assets of the bank reached RMB 9,038,254 million, reflecting a growth of 12.3% year-on-year[25] - The average return on assets (ROA) for 2017 was 1.08%, an increase from 1.00% in 2016[26] - The average return on equity (ROE) improved to 15.58% in 2017, up from 14.79% in 2016[27] - The cost-to-income ratio for 2017 was 29.35%, showing a continuous improvement from 30.01% in 2016[31] - The provision coverage ratio stood at 213.65%, indicating strong risk management practices[32] - Net profit attributable to the parent company for 2017 was RMB 70.22 billion, representing a year-on-year growth of 4.48%[40] - The group ranked 171st in the Fortune Global 500, marking its continuous presence for nine years[40] - The group achieved a ranking of 11th in the global tier 1 capital among the top 1,000 banks, setting a new historical high[40] - The group's pre-tax profit was RMB 83.265 billion, a decrease of RMB 2.845 billion or 3.30% year-on-year[155] Asset Quality and Risk Management - The non-performing loan (NPL) ratio was 1.25%, a slight decrease from 1.50% in 2016[30] - The non-performing loan ratio was 1.50%, with a provision coverage ratio of 153.08%[34] - The non-performing loan ratio decreased to 1.50%, down by 0.02 percentage points from the beginning of the year[45] - The bank's asset quality improved, with a provision coverage ratio of 153.08%, an increase of 2.58 percentage points from the beginning of the year[84] - The impaired loan ratio was 1.50%, a decrease of 0.02 percentage points compared to the beginning of the year, while the provision coverage ratio increased to 153.08%[184] - The bank's risk management framework has been strengthened, with a total of RMB 89.204 billion in credit reductions during the reporting period, further enhancing its risk control capabilities[65] Customer and Market Expansion - The bank has established 3,270 business outlets across 239 cities and 158 counties in China[5] - Bank of Communications has 21 overseas branches and representative offices in 16 countries and regions[5] - The bank plans to expand its market presence in overseas regions, focusing on enhancing its international operations[20] - The total number of domestic corporate customers increased by 9.31%, while the total number of individual customers rose by 18.19%[43] - The total assets of overseas banking institutions and subsidiaries grew by 15.38%, accounting for 14.18% of the group's total assets[44] - The bank's international operations saw a 15.38% increase in total assets, accounting for 14.18% of the group's total assets[82] - The number of registered mobile banking customers reached 61.06 million, a growth of 21.73% from the beginning of the year[83] - The number of corporate online banking customers exceeded 700,000, growing by 14.46% from the beginning of the year, with corporate online banking transaction volume increasing by 22.96%[127] Wealth Management and Non-Interest Income - The bank's personal financial assets under management (AUM) reached RMB 2.88 trillion, reflecting a strong growth in wealth management services[61] - The non-interest income from fees and commissions reached RMB 40.55 billion, with a year-on-year growth of 10.21%[44] - The personal financial service fee income increased by 19.59% year-on-year, reflecting strong growth in this segment[82] - The group's financial business achieved a pre-tax profit of RMB 35.6 billion, with net fee and commission income of RMB 16.034 billion[91] - The total amount of corporate loans was RMB 3,047.03 billion, up RMB 130.26 billion or 4.47% year-on-year, with the top four industries accounting for 56.68% of total corporate loans[181] Technology and Innovation - The company launched an integrated online and offline service model, enhancing its financial technology strategy[47] - The bank has actively embraced financial technology, establishing innovation platforms and applications that rank among the industry leaders in market influence and active user numbers[63] - The group has launched 17 joint innovation projects focusing on scenario-based and industry-specific service solutions[88] - The bank completed 31 version updates for mobile banking during the reporting period, adding or optimizing over 820 functions, significantly enhancing customer experience[130] Corporate Governance and Strategy - The group has been actively enhancing its corporate governance structure, integrating the leadership of the Communist Party with modern governance mechanisms[41] - The company plans to continue its reform and transformation efforts to adapt to new economic conditions and enhance its market position[52] - The group has a stable and balanced shareholding structure, supported by a diverse and professional board of directors[57] Financial Position and Liabilities - Total liabilities amounted to RMB 8,361.98 billion, with customer deposits at RMB 4,930.35 billion[34] - The total liabilities at the end of the reporting period amounted to RMB 836,198.3 million, an increase of RMB 59,122.4 million, representing a growth of 7.61%[191] - Customer deposits increased by RMB 20,175.6 million, a growth of 4.27%, with a total balance of RMB 492,034.5 million, accounting for 58.96% of total liabilities[191][193] Interest Income and Expenses - Net interest income was RMB 127.366 billion, a year-on-year decrease of RMB 7.505 billion, accounting for 64.81% of total operating income[157] - Interest income for the reporting period was RMB 317.518 billion, an increase of RMB 27.674 billion, representing a growth of 9.55% year-on-year[164] - Total interest expenses increased to RMB 190.152 billion, up RMB 35.179 billion, reflecting a growth of 22.70% year-on-year[166]