Bank Of Jiangsu(SH:600919)2020-04-10 16:00Financial Performance - The company achieved a total asset of over RMB 2 trillion and a loan balance exceeding RMB 1 trillion in 2019, marking a new milestone in business scale[9]. - The net profit attributable to shareholders has maintained double-digit growth for four consecutive years, reflecting strong financial performance[8]. - Operating income for the year was CNY 44.974 billion, up 27.68% compared to the previous year[12]. - Net profit reached CNY 14.960 billion, representing a year-on-year increase of 12.80%[12]. - Total assets reached CNY 2.07 trillion, an increase of 7.23% year-on-year[12]. - Total deposits amounted to CNY 1.21 trillion, growing by 10.27% year-on-year[12]. - Total loans stood at CNY 1.04 trillion, reflecting a year-on-year growth of 17.01%[12]. - The bank's net profit attributable to shareholders of the listed company was 14.619 billion RMB, up 11.89% year-on-year, maintaining double-digit growth for four consecutive years[45]. - The bank's operating income was CNY 44.974 billion, with a net profit attributable to shareholders of CNY 14.619 billion, reflecting year-on-year growth of 27.68% and 11.89% respectively[56]. Market Position and Recognition - The company ranked 92nd in the "Global 1000 Banks" by The Banker and was included in Forbes' list of the world's best banks, indicating an increase in brand value[8]. - Jiangsu Bank ranked 92nd in the 2019 Global 1000 Banks list by The Banker magazine based on Tier 1 capital, maintaining its position among the top 100 banks globally and 18th domestically[16]. - The bank was ranked first among national city commercial banks in comprehensive wealth management, risk control, and information disclosure standards by Puyin Standard[24]. Strategic Initiatives - The company aims to enhance its core capabilities through six strategic focuses, including strengthening corporate business and expanding retail operations[19]. - The bank's development strategy includes expanding its regional layout and enhancing service characteristics while pursuing potential mergers and acquisitions[19]. - Jiangsu Bank is exploring potential mergers and acquisitions to strengthen its market position and diversify its service offerings[187]. Technology and Innovation - Financial technology investment increased in 2019, with a growing professional team dedicated to enhancing technological capabilities[9]. - The bank has accelerated the application of financial technology, integrating blockchain, IoT, and AI into various business areas[21]. - The bank is investing in technology, with a budget of 200 million RMB allocated for digital transformation initiatives in 2020[187]. Customer Engagement and Services - The number of active users for mobile banking ranked first among city commercial banks[10]. - The bank's total assets under custody reached CNY 25.199 trillion, a growth of 13.88% from the beginning of the year, ranking first among city commercial banks[52]. - The bank's credit card issuance totaled 3.08 million, up 85.61% year-on-year, with an overdraft balance of CNY 18.3 billion, increasing 15.23%[49]. Risk Management - The non-performing loan ratio decreased, with improved provision coverage ratio[13]. - The bank's credit risk management system was enhanced, focusing on early detection and intervention of credit risk hazards[96]. - The bank's asset quality remained stable, with proactive measures taken to adjust credit policies and improve risk management models[100]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.78 per 10 shares, totaling RMB 3.209 billion based on the total shares outstanding as of the end of 2019[4]. - The net profit attributable to ordinary shareholders for 2019 was RMB 14.619 billion, with a dividend payout ratio of 21.95%[131]. - The company has maintained a consistent dividend policy over the past three years, with the payout ratios being 30.04% in 2018 and 17.50% in 2017[131]. Social Responsibility and Community Engagement - The company reported a total of over 24 billion RMB in poverty alleviation loans during the reporting period[146]. - The company has established a comprehensive poverty alleviation work system focusing on industry support and project targeting[145]. - The company received the "Most Socially Responsible Financial Institution Award" from the China Banking Association during the reporting period[150]. Governance and Leadership - The company appointed new vice presidents: Gu Yan, Wu Dianjun, and Zhou Kai[199]. - Jiangsu Bank's leadership includes experienced professionals with backgrounds in finance and economics, such as Chairman Xia Ping and President Ji Ming[185]. - The company has seen changes in its supervisory board, with new appointments including Xiang Rong and Wu Bing, while Zhao Chuanbiao and Zhou Yanli have resigned due to work reasons[199].