Bank Of Jiangsu(600919)2024-04-25 11:49Financial Performance - Total assets of Bank of Jiangsu exceeded RMB 3.4 trillion, with total deposits at RMB 1.88 trillion and total loans at RMB 1.80 trillion, achieving a growth rate of "three doubles" in scale indicators [13]. - The operating revenue for 2023 reached RMB 74,293,433 thousand, an increase of 5.28% compared to RMB 70,570,422 thousand in 2022 [34]. - The net profit attributable to shareholders of the listed company was RMB 28,750,352 thousand, reflecting a growth of 13.25% from RMB 25,385,993 thousand in the previous year [34]. - The net cash flow from operating activities was RMB 213,598,870 thousand, a significant increase of 5,701.91% compared to a negative cash flow of RMB -3,812,962 thousand in 2022 [34]. - Total assets reached CNY 3,403,361,837 thousand, representing a 14.20% increase from RMB 2,980,294,692 thousand at the end of 2022 [35]. - The bank's basic earnings per share for 2023 was RMB 1.69, up 5.63% from RMB 1.60 in 2022 [34]. - The bank's total deposits increased to RMB 1,914,948,437 thousand, a growth of 15.45% from RMB 1,658,677,652 thousand in 2022 [35]. - The bank's total equity rose to CNY 259,116.03 million, a growth of 20.28% [48]. Loan and Deposit Growth - Loans to technology enterprises increased by 32.56% year-on-year, serving over 30,000 technology companies, ranking first in Jiangsu Province [14]. - Micro and small loans exceeded RMB 620 billion, with inclusive micro loans increasing by 25.27% year-on-year, continuing to lead the market share in Jiangsu Province [14]. - The total amount of loans issued reached RMB 1,747,477,216 thousand, an increase of 12.29% from RMB 1,556,170,969 thousand in 2022 [35]. - The balance of loans to small and micro enterprises surpassed RMB 620.0 billion, ranking first among banks in Jiangsu Province and nationwide among city commercial banks [105]. - The total deposits reached CNY 19,149,000,000 thousand, a growth of 15.45% from the previous year, with corporate deposits at CNY 9,313,000,000 thousand (49.67%) and personal deposits at CNY 7,081,000,000 thousand (37.76%) [89]. Risk Management - The bank has established a strong risk management framework, emphasizing proactive measures to mitigate potential risks [24]. - The bank's non-performing loan ratio has decreased year-on-year since its listing, while the provision coverage ratio has increased annually [24]. - The non-performing loan ratio improved to 0.91% in 2023, down from 0.94% in 2022 [36]. - The provision coverage ratio increased to 378.13%, reflecting a steady improvement over eight years [55]. - The bank's strategy includes enhancing the management of non-performing loans through various measures, including legal actions and collaboration with asset management companies [99]. Digital Transformation and Innovation - The company is actively exploring the use of new technologies such as big data, artificial intelligence, and the Internet of Things to enhance customer experience and meet diverse financial needs [14]. - The bank is committed to digital transformation, focusing on user experience and operational efficiency through technology integration [24]. - The company launched over 10 innovative products, including "Chang Ge Loan" and "Xu Shu Loan," focusing on enhancing user experience and operational efficiency [111]. - The bank's mobile banking total customer base exceeded 18 million, with monthly active users surpassing 6 million, leading among city commercial banks [109]. - The company has established a five-year information technology strategic plan focusing on digital transformation, emphasizing "experience, efficiency, and security" in its financial technology initiatives [111]. Green Finance Initiatives - Green loans grew by 42.50% year-on-year, maintaining a leading proportion among 21 commercial banks directly managed by the head office [14]. - The total green financing scale reached RMB 450.1 billion, a growth of 40.5% compared to the previous year [104]. - The balance of green loans was RMB 287.0 billion, reflecting a 42.5% increase year-on-year, maintaining a leading position among 21 commercial banks [104]. - The company has established a three-tier governance structure for green finance, including a "Strategic and ESG Committee" at the board level [189]. - The bank has integrated green finance into its strategic development, aiming to become a benchmark for responsible banking in China, aligning with the UN Sustainable Development Goals and the Paris Agreement [193]. Corporate Governance and Compliance - The company has established a clear governance framework with defined responsibilities among shareholders, board members, and management [136]. - The company is committed to maintaining compliance with regulatory requirements regarding executive appointments and qualifications [158]. - The company has undergone significant management changes, including the appointment of new directors and executives, indicating a strategic shift in leadership [159]. - The company emphasizes communication with minority shareholders regarding profit distribution policies, ensuring their opinions are considered [171]. - The company has received an "AA" ESG rating and has been recognized for its contributions to social responsibility and sustainable finance [113]. Awards and Recognition - The bank received multiple awards in 2023, including the "2023 Annual ESG Financial Pioneer Award" and "2023 Annual Outstanding Retail Bank Award" among others [30]. - The bank has been recognized with multiple awards for its ESG practices, including the "2023 China Banking Industry ESG Practice Award" and being listed in the "Top 20 Banks for ESG Performance" in China [199].