Bank Of Shanghai(SH:601229)2022-04-21 16:00Financial Performance - In 2021, Bank of Shanghai achieved operating income of RMB 56.23 billion, a year-on-year increase of 10.81%[8]. - The net profit attributable to shareholders of the parent company was RMB 22.04 billion, representing a year-on-year growth of 5.54%[8]. - As of the end of 2021, the group's deposits and loans grew by 11.81% and 11.44% respectively, with revenue reaching 56.2 billion yuan, a year-on-year increase of 10.81%[15]. - Net interest income for 2021 reached RMB 40,437,503 thousand, an increase of 11.11% compared to RMB 36,394,280 thousand in 2020[45]. - Fee and commission income rose significantly by 61.31% to RMB 9,047,039 thousand from RMB 5,608,546 thousand in the previous year[45]. - Total operating income increased by 10.81% to RMB 56,229,904 thousand, up from RMB 50,746,123 thousand in 2020[45]. - The net profit for 2021 was RMB 22,080,368 thousand, reflecting a growth of 5.57% from RMB 20,914,871 thousand in 2020[45]. - Total assets as of December 31, 2021, amounted to RMB 2,653,198,679 thousand, a 7.76% increase from RMB 2,462,144,021 thousand in 2020[46]. - Customer loans and advances totaled RMB 1,223,747,766 thousand, marking an 11.44% increase from RMB 1,098,124,072 thousand in 2020[45]. - Total deposits reached RMB 1,450,430,492 thousand, up 11.81% from RMB 1,297,175,690 thousand in the previous year[46]. Asset Quality and Risk Management - The non-performing loan ratio at the end of the year was 1.25%, with a provision coverage ratio of 301.13%, indicating strong asset quality and risk mitigation[8]. - The net profit attributable to shareholders exceeded 22 billion yuan, with a non-performing loan ratio of 1.25% and a provision coverage ratio maintained above 300%[15]. - The provision coverage ratio stood at 301.13%, reflecting a sufficient overall provision level[55]. - The non-performing loan (NPL) ratio at the end of the reporting period was 1.25%, an increase of 0.03 percentage points from the end of the previous year, primarily due to risks in the real estate sector[106]. - The company has strengthened risk management for large credit exposures to mitigate new risks[109]. - The company has implemented measures to enhance recovery and disposal efforts for non-performing assets[113]. - The company is focusing on risk management in the real estate sector, implementing differentiated credit policies, and supporting housing projects with good sales prospects[153]. Digital Transformation and Innovation - The bank's digital transformation is a core driver for future development, focusing on data governance and intelligent application of systems[12]. - The digital transformation strategy is focused on online, digital, and intelligent directions to enhance customer engagement and operational management[20]. - The company successfully integrated over 80 business lines into its digital transformation strategy, enhancing operational efficiency[157]. - The company achieved a reduction in loan approval time from an average of 15-30 days to 3-12 days through full-process online reconstruction of retail mortgage loans[157]. - The company launched the "Beautiful Life" APP, with 428,000 registered users and a card binding rate of 91.82%[193]. Inclusive and Green Finance - Inclusive finance loans increased by 64.55%, green loans by 180.07%, and livelihood loans by 53.61% compared to the previous year[9]. - The company aims to enhance its service capabilities in green finance, focusing on "green finance+" products and achieving its dual carbon goals outlined in its white paper[19]. - The company actively supports green finance initiatives and has expanded its credit services in inclusive finance, technology innovation finance, and supply chain finance[109]. - The company launched the "Green Finance Action Plan 2.0," enhancing its "Green Finance+" product service system, which includes four major product categories: "Green Benefits for Enterprises," "Green Investment and Trade," "Global Green Financing," and "Enjoying Green Life"[166]. - During the reporting period, the company issued green loans amounting to CNY 26.995 billion, with a year-end balance of CNY 30.211 billion, representing a growth of 180.07% year-over-year[166]. Wealth Management and Customer Engagement - The wealth management revenue grew by 32.12% year-on-year, with personal wealth management balance increasing by 19.33%[10]. - The company emphasizes the importance of wealth management, achieving rapid growth in customer service and scale efficiency[20]. - The bank is prioritizing the cultivation of high-net-worth clients and expanding its wealth management and pension services[29]. - The total assets under management (AUM) for retail customers amounted to CNY 901.47 billion, reflecting a growth of 20.34% year-on-year[195]. - The AUM for pension clients reached CNY 416.61 billion, a growth of 19.96% year-on-year, accounting for 46.21% of total retail AUM[197]. Strategic Vision and Market Positioning - The strategic vision is to become a "boutique bank" characterized by refined products and professional services, with a focus on quality growth and brand integrity[28]. - The bank's regional positioning includes deepening its presence in Shanghai and the Yangtze River Delta while expanding nationally and internationally[29]. - The company is actively expanding its partnerships with financial peers and business partners to improve financing capabilities[13]. - The company is focusing on supporting state-owned enterprises and key regional economic developments, particularly in the Yangtze River Delta and Greater Bay Area[116]. Awards and Recognition - The company has received multiple awards for its contributions to the financial sector, including the "Best Wealth Management Bank in China" at the Asia-Pacific Wealth Forum[40]. - The company ranked 67th in the "2021 Global Bank 1000" list by The Banker magazine, improving by six positions from 2020[38]. - The company has been recognized for its innovative financial products, including the "patent licensing income pledge financing" model, which was selected as a top case in Shanghai[39].