Chongqing Rural Commercial Bank(SH:601077)2023-03-30 16:00Financial Performance - The total asset scale of Chongqing Rural Commercial Bank exceeded RMB 1.35 trillion, with deposits of RMB 824.9 billion and loans of RMB 632.7 billion in 2022[7]. - The bank achieved an operating income of RMB 29 billion and a net profit of RMB 10.5 billion, with a non-performing loan ratio of 1.22% and a provision coverage ratio of 357.74%[7]. - The core Tier 1 capital adequacy ratio stood at 13.10%, indicating a strong capital position[7]. - A dividend of RMB 2.714 per 10 shares (before tax) is proposed for the 2022 fiscal year, subject to shareholder approval[2]. - The bank ranked 113th in the "2022 Global Top 1000 Banks" list by The Banker magazine, an improvement of 6 positions from the previous year[7]. - Net profit for 2022 increased by 7.81% to RMB 10,477.8 million, compared to RMB 9,718.4 million in 2021[40]. - Total operating income for 2022 was RMB 28,990.7 million, down 6.00% from RMB 30,841.8 million in 2021[40]. - The total assets as of December 31, 2022, reached RMB 1,351,861.1 million, reflecting a growth of 6.79% from RMB 1,265,851.1 million in 2021[42]. - The non-performing loan ratio improved to 1.22% from 1.25% in the previous year[42]. - The capital adequacy ratio increased to 15.62%, up from 14.77% in 2021[42]. Customer Base and Digital Transformation - The total customer base reached 28 million, accounting for nearly 90% of the city's population[9]. - The number of mobile banking customers surpassed 13.52 million, with online loan balances exceeding RMB 120 billion[9]. - The bank plans to continue its digital transformation while enhancing the competitiveness of its online products[9]. - The average daily intelligent decision-making reached 850,000 cases, a year-on-year increase of 120%[11]. - The company aims to enhance digital transformation through increased investment in fintech, focusing on big data, AI, and cloud computing[23]. - The company launched the "Mobile Banking APP 7.0," enhancing customer experience with features like "cloud recognition" and "cloud sharing" for improved security and marketing[36]. - The company is committed to optimizing its asset, customer, and income structures while promoting green finance and supporting local economic development[21]. Loan and Deposit Growth - The balance of inclusive small and micro enterprise loans reached CNY 113 billion, an increase of CNY 16.9 billion, with a growth rate of 17.54%[10]. - The balance of green loans exceeded CNY 48.7 billion, with a continuous growth rate of over 30% for three consecutive years[11]. - The balance of agricultural loans reached CNY 215.625 billion by the end of 2022, an increase of CNY 19.851 billion year-on-year[33]. - The number of effective merchants increased by 44%, and the transaction amount surged by 246% as part of the bank's BBC ecosystem strategy[9]. - The company issued loans totaling RMB 427.34 billion to support agriculture and small enterprises, maintaining the largest market share in Chongqing[45]. - Customer deposits increased to CNY 824.95 billion, up CNY 65.59 billion, or 8.64% year-on-year[89]. Risk Management and Asset Quality - The company aims to enhance risk prevention mechanisms and improve asset quality management to stabilize asset quality[12]. - The company reported a credit risk loss provision balance of CNY 30.231 billion, an increase of CNY 2.882 billion year-on-year, with a provision coverage ratio of 357.74%, up 17.49 percentage points[140]. - The company’s overdue loan provision coverage ratio for loans overdue by more than 90 days was 489.57%, indicating strong risk mitigation capacity[140]. - The company is committed to enhancing its risk management framework, ensuring compliance with new regulatory requirements, and improving risk identification and assessment capabilities[141]. - The company has seen a significant decrease in the credit impairment losses for corporate loans, with a year-on-year decline of 43.90% to CNY 4.786 billion[140]. Corporate Governance and Leadership - Mr. Xie Wenhui has been appointed as the Party Secretary and Chairman of the bank since April 2022, officially taking office in August 2022 after receiving approval from the Chongqing Banking and Insurance Regulatory Bureau[190]. - The governance report highlights the importance of stable leadership and management transitions to maintain operational continuity[192]. - The company is committed to ongoing improvements in its governance structure to support long-term growth and stability[192]. - The company appointed Yang Xiaotao as the Party Committee member and supervisor since February 2022, with a background as a senior economist and an MBA from Xiamen University in 2013[197]. Awards and Recognition - The company received nine awards in 2022, including the "Annual Market Influence Award" and "Market Innovation Award," ranking first among financial institutions in Central and Western China[38]. - The company achieved an A-level rating in the 2022 Wind ESG rating list, ranking 8th nationally among rural commercial banks[38]. - The company was recognized as the only local legal entity bank in Chongqing to maintain an A-level rating in foreign exchange management assessments for seven consecutive years[121].