Financial Performance - For the year ended December 31, 2022, Jinshang Bank reported interest income of RMB 10,728.8 million, an increase of 3.6% from RMB 10,358.5 million in 2021[5]. - The net interest income for the same period was RMB 3,593.0 million, reflecting a slight increase of 1.1% compared to RMB 3,554.0 million in 2021[5]. - The bank's net profit for 2022 was RMB 1,835.4 million, up 9.3% from RMB 1,679.4 million in 2021[10]. - Total assets as of December 31, 2022, reached RMB 336,419.5 million, representing a growth of 10.9% from RMB 303,291.5 million in 2021[11]. - The bank's basic earnings per share for 2022 was RMB 0.31, up 6.9% from RMB 0.29 in 2021[10]. - The total operating income for the year ended December 31, 2022, was RMB 5,260.2 million, a decrease of 2.4% from RMB 5,390.7 million in 2021[23]. - The pre-tax profit rose by 9.7% to RMB 1,856.3 million for the year ended December 31, 2022, up from RMB 1,691.8 million in 2021[24]. - The company's net interest margin decreased from 1.47% in 2021 to 1.40% in 2022, while the net interest yield fell from 1.43% to 1.32%[25]. - The company's net fee and commission income for 2022 was RMB 733,993 thousand, down from RMB 765,448 thousand in 2021[145]. Asset and Liability Management - Total liabilities increased to RMB 313,065.9 million, a rise of 11.4% from RMB 281,133.9 million in 2021[11]. - The bank's capital adequacy ratio increased to 12.40% in 2022, up from 12.02% in 2021[14]. - The liquidity coverage ratio decreased to 208.87% in 2022 from 322.30% in 2021[15]. - The total amount of deposits absorbed increased by 27.4% to RMB 253,770.9 million as of December 31, 2022, up from RMB 199,207.2 million as of December 31, 2021, driven by rising commodity prices and improved service levels[78]. - The amount of issued bonds decreased by 43.1% to RMB 33,534.2 million as of December 31, 2022, from RMB 58,967.2 million as of December 31, 2021, due to optimization of the liability structure[80]. Loan and Credit Quality - The non-performing loan ratio improved to 1.80% in 2022 from 1.84% in 2021[13]. - The total amount of non-performing corporate loans was RMB 2,759.5 million, with an overall NPL ratio of 2.52%[90]. - The personal loan NPL ratio rose from 1.51% as of December 31, 2021, to 2.06% as of December 31, 2022, with the NPL balance increasing from RMB 404.6 million to RMB 594.4 million[95]. - The amount of loans under special mention decreased to RMB 7,600.0 million, representing 4.1% of total loans as of December 31, 2022[86]. - The total amount of normal loans was RMB 175,098.0 million, representing 94.1% of the total loans as of December 31, 2022, an increase from 92.7% in the previous year[86]. Investment and Financial Strategy - The company launched new financial products, including "Specialized and Innovative Loans," to enhance inclusive finance offerings[22]. - The company is focusing on digital transformation, establishing a digital finance department and launching new services like "Home Loan" and "Credit Loan" to enhance customer experience[22]. - The company aims to strengthen risk management and compliance, ensuring no systemic financial risks occur[22]. - The company is committed to supporting the real economy and accelerating transformation while balancing development and safety[22]. - The total amount of wealth management products issued by the group reached RMB 125,387.2 million, a slight increase of 0.2% compared to the previous year[127]. Operational Efficiency and Cost Management - Operating expenses increased by 5.6% from RMB 2,070.5 million in 2021 to RMB 2,186.7 million in 2022, driven by strategic investments in technology and digital finance[47]. - Personnel costs rose by 3.4% from RMB 1,282.7 million in 2021 to RMB 1,326.8 million in 2022[48]. - The company reported a significant increase in other operating income, which rose by 300.8% to RMB 48.1 million in 2022[23]. - The company has implemented strategies to optimize its credit structure and support the development of the real economy[89]. Governance and Compliance - The company has established a comprehensive corporate governance structure in compliance with Hong Kong listing rules[131]. - The board of directors consists of 12 members, including 2 executive directors and 5 independent non-executive directors[132]. - The company held an extraordinary general meeting on December 22, 2022, where various board and supervisory committee members were re-elected[136]. - The company is awaiting qualification approvals for several newly appointed directors and supervisors from the regulatory authority[135]. Market and Economic Context - The GDP of Shanxi Province grew by 4.4% year-on-year, with total production value reaching RMB 256.43 billion[20]. - Fixed asset investment in Shanxi increased by 5.9%, surpassing the national growth rate of 5.1%[20]. - The average disposable income of urban residents in Shanxi was RMB 39,532, an increase of 5.6% year-on-year, outpacing the national average of 3.9%[20].
晋商银行(02558) - 2022 - 年度业绩