Bank Of Jiangsu(SH:600919)2025-04-18 08:50Financial Performance - The total assets of Jiangsu Bank reached RMB 3.95 trillion, with total deposits of RMB 2.12 trillion and total loans of RMB 2.10 trillion at the end of the reporting period[11]. - Annual operating income was CNY 80.81 billion, representing an 8.78% increase year-on-year[17]. - Net profit attributable to shareholders was CNY 31.84 billion, up 10.76% year-on-year[17]. - The company's operating revenue for 2024 reached RMB 80,815,212, an increase of 8.78% compared to RMB 74,293,433 in 2023[44]. - The net profit for 2024 was 33.31 billion RMB, a 10.97% increase from the previous year, with net profit attributable to shareholders at 31.84 billion RMB, up 10.76%[85]. - Total assets reached CNY 39,520.42 billion, an increase of 16.12% compared to the previous year[80]. - Total deposits amounted to CNY 21,158.51 billion, growing by 12.83% year-on-year[80]. - Total loans stood at CNY 20,952.03 billion, reflecting a year-on-year increase of 10.67%[80]. - The company's total liabilities increased by 15.72% to RMB 3,638,383,352 in 2024 from RMB 3,144,245,806 in 2023[45]. - The company achieved a diluted earnings per share of RMB 1.65 in 2024, an increase of 8.55% from RMB 1.52 in 2023[44]. Risk Management - Jiangsu Bank has implemented a comprehensive risk management system, enhancing pre-warning capabilities and asset quality stability[13]. - The non-performing loan ratio was 0.89%, maintaining the best level since the company went public[17][22]. - The coverage ratio for provisions was 350.10%, indicating strong risk compensation capacity[17][22]. - The company emphasizes a strong focus on risk management, enhancing internal controls and smart risk management systems to maintain asset quality stability[163]. - The liquidity risk management strategy remains prudent, with a comprehensive governance structure ensuring effective monitoring and control of liquidity risks[164]. - Market risk is managed through a robust monitoring platform, with various analyses ensuring risks remain controllable[165]. - The bank has implemented a unified system for operational risk management, resulting in low levels of operational risk losses[167]. - Information technology risk management focuses on network and data security, with no significant technology risk loss events reported during the period[168]. - Reputation risk management includes proactive monitoring and training, maintaining a stable reputation risk status[169]. Digital Transformation and Innovation - The bank's digital financial services have seen significant growth, with over 1 million personal pension accounts opened, supporting the development of the "silver economy"[12]. - The bank's digital app monthly active users exceeded 7 million, maintaining the leading position among city commercial banks[148]. - The bank became the first to connect to the central bank's system using a hybrid model, facilitating the first nationwide digital RMB currency bridge business[143]. - The company launched 217 innovative projects in a digital finance innovation competition, with 26 projects selected for inclusion in the ESG report assistant[152]. - The company is focusing on a "smart transformation" strategy, increasing investments in financial technology to enhance operational efficiency[89]. Market Position and Growth - Jiangsu Bank has maintained its position as a leading player in inclusive finance, achieving the highest growth in business scale in the province for four consecutive years[12]. - The bank's stock price increased by over 56% year-on-year, reaching a new high since its listing[11]. - Jiangsu Bank ranked 66th in the global top 1000 banks, improving by 2 positions from the previous year[33]. - The bank was ranked 166th in the Fortune China 500 list, leading among domestic city commercial banks[33]. - Retail assets under management (AUM) exceeded CNY 1.42 trillion, ranking first among city commercial banks[19]. - The number of wealth management clients surpassed 100,000, with a growth rate exceeding 20%[145]. Corporate Governance - The company has no controlling shareholder or actual controller, aligning its governance with regulatory requirements[197]. - The board of directors has maintained clear boundaries of responsibility, ensuring compliance and effectiveness in governance[197]. - Independent directors provided reports during the shareholder meetings, contributing to transparency and accountability[198]. - The company is committed to modernizing its governance system and enhancing governance capabilities[197]. - The board has authorized decisions regarding mid-term profit distribution for 2024, indicating proactive financial management[198]. Community and Environmental Impact - The bank has actively participated in the establishment of the G60 Science and Technology Innovation Corridor ESG Development Alliance, leading the formulation of four international sustainable finance standards[12]. - The scale of green finance investment and financing reached CNY 550.9 billion, growing over 22% year-on-year[18]. - The green financing scale reached RMB 5,509 billion, a growth of 22.4% compared to the previous year, with green credit balance at RMB 3,635 billion[139]. - The bank has established a comprehensive service mechanism for major projects, enhancing financial support for ecological protection and livelihood security[138].