Bank of RuiFeng(SH:601528)2023-03-28 16:00Financial Performance - The bank achieved a net profit of 1.55 billion RMB in 2022, representing a growth of 19.81% compared to the previous year[10]. - Operating income increased by 6.49% year-on-year, reaching 3.52 billion RMB, driven by steady growth in both net interest income and non-interest income[17]. - The bank's net interest income rose to 3.19 billion RMB, a 6.44% increase from 2.99 billion RMB in 2021[17]. - Non-interest income grew by 6.96% to 336.51 million RMB, primarily due to increased investment income and other revenues[21]. - The bank's effective tax rate decreased by 11.38%, resulting in income tax expenses of 66.49 million RMB[17]. - The net profit for the year was 2.3 trillion yuan, representing a year-on-year increase of 5.4%[25]. - The company's total revenue for 2022 was CNY 3,524,998, an increase of 6.49% compared to CNY 3,310,241 in 2021[127]. - Net profit for 2022 reached CNY 1,551,461, reflecting a growth of 19.81% from CNY 1,294,943 in 2021[127]. Asset and Liability Management - The bank's total assets reached 379.39 trillion RMB, with a year-on-year growth of 10.0%[24]. - The total assets at the end of 2022 amounted to CNY 159,622,748, which is a 16.63% increase from CNY 136,867,516 at the end of 2021[127]. - The total liabilities amounted to 144.45 trillion RMB, reflecting a growth of 17.39% from the previous period[31]. - The total liabilities increased to CNY 144,446,949, representing a 17.39% rise from CNY 123,051,420 in 2021[127]. - The bank's capital adequacy ratio was 15.17%, up by 0.04 percentage points from the end of the previous year[25]. - The capital adequacy ratio at the end of 2022 was 15.58%, exceeding the regulatory requirement of 10.5%[121]. Loan and Credit Management - The bank's loans to small and micro enterprises amounted to 59.7 trillion RMB, reflecting the bank's commitment to supporting the real economy[24]. - The total loan amount of the bank reached 102.896 billion RMB, an increase of 17.861 billion RMB compared to the previous year[33]. - Corporate loans amounted to 42.079 billion RMB, accounting for 40.89% of total loans, with an increase of 11.689 billion RMB year-on-year[33]. - Personal loans totaled 53.126 billion RMB, representing 51.63% of total loans, with a slight decrease from 60.81% at the beginning of the period[33]. - The bank's non-performing loan ratio stood at 1.08%, with a notable increase in the manufacturing sector's non-performing rate to 0.41%[39]. - The total amount of overdue loans at the end of the reporting period was CNY 1,088,597, accounting for 1.06% of total loans[47]. - The bank's total amount of loans classified as normal was CNY 100,290,307, accounting for 97.47% of total loans[44]. - The bank's loan loss provision balance increased by 534.3 billion yuan to 6.1 trillion yuan, with a provision coverage ratio of 205.85%, up by 8.94 percentage points from the end of the previous year[25]. Risk Management - The bank's credit impairment losses decreased by 3.76% to 821.96 million RMB, indicating improved asset quality[17]. - The company has implemented various measures to effectively manage and control risks, including credit risk, market risk, liquidity risk, and operational risk[95]. - The bank's risk management system has been enhanced, focusing on comprehensive risk management and digital transformation to improve risk control capabilities[170]. - The bank has established a dual-layer early warning management model for credit risk, enhancing the effectiveness of risk management through data-driven approaches[170]. - The company aims to improve overall risk management capabilities through enhanced collaboration among departments and agile risk monitoring mechanisms[93]. Customer and Market Engagement - The number of high-net-worth clients (three-star and above) increased by 31.34% year-on-year, reaching 35,789 clients, with AUM growth of 35.33% to an additional RMB 10,843 million[73]. - The bank's inclusive financial services reached 30105 individual operating loan customers with a total loan balance of 14.385 billion yuan, an increase of 2.142 billion yuan or 17.5% year-on-year[145]. - The bank's digital marketing system integrates customer information to create a 360-degree view, enhancing precision in customer management and marketing[146]. - The bank's digital transformation strategy includes the establishment of a digital financial center and the implementation of 38 key digital reform projects over the next three to five years[153]. - The bank's wealth management business has seen rapid growth, with a focus on product innovation and optimizing the product system[72]. Operational Efficiency - The bank's operating expenses increased by 4.19% to 2.03 billion RMB, mainly due to rising business and management costs[17]. - The total amount of "共富贷" (Common Prosperity Loan) signed contracts reached 6.382 billion RMB, with 36,700 actual signings and a new customer rate of 78.38%[163]. - The bank's total operating costs were 2,026,113 thousand RMB, which is a 4.19% increase from the previous year[163]. - The bank's profit before tax was 1,498,885 thousand RMB, with a year-on-year increase of 9.76%[165]. - The bank's employee expenses amounted to RMB 767,255 thousand, which is 65.39% of total expenses, showing a year-on-year increase of 10.86%[176]. Digital Transformation - The bank's digital financial products, such as "Common Prosperity Loan" and "Micro E Loan," have expanded the coverage of inclusive finance[171]. - The bank has established a digital risk control system for retail business, achieving precise management at all stages of the loan process[146]. - The bank's digital reform efforts have been recognized as a benchmark within the Zhejiang rural commercial bank system[148]. - The bank aims to enhance digital risk control and customer digital management capabilities as part of its future strategy[148].