Huan Qiu Lao Hu Cai Jing·2025-03-24 10:12Core Viewpoint - The article discusses the transformation of the Bank of Communications (BoCom) from a focus on scale expansion to value creation, emphasizing the need for quality improvement and efficiency enhancement in the banking industry amidst new challenges [1][4]. Group 1: Strategic Focus Areas - BoCom's President Zhang Baojiang outlined four key strategies for high-quality development: rooting in the real economy, optimizing asset-liability management, strengthening digital empowerment, and maintaining a solid risk management foundation [3]. - The bank aims to align its growth with the current economic environment by prioritizing quality over quantity, moving towards a more refined business approach [5]. Group 2: Financial Performance - As of the end of 2024, BoCom's total assets reached 14.90 trillion yuan, a year-on-year increase of 5.98%. Customer loan balance was 8.56 trillion yuan, up 7.52%. Operating income was 259.83 billion yuan, with a growth of 0.87%, and net profit attributable to shareholders was 93.59 billion yuan, increasing by 0.93% [5]. - The bank's focus on strategic lending has resulted in significant growth in various sectors, including a 45.37% increase in technology finance clients and substantial growth in green finance and inclusive finance [6][8]. Group 3: Digital Transformation - BoCom is undergoing a digital transformation, shifting from physical branches to a scene-ecology era, integrating financial services into various life scenarios to enhance customer engagement [13][14]. - The bank has launched multiple digital initiatives, including a revamped mobile banking app and AI applications that have significantly improved operational efficiency and customer service [16][17]. Group 4: Risk Management and Asset Quality - As of the end of 2024, BoCom's non-performing loan (NPL) ratio was 1.31%, down 0.02 percentage points year-on-year, with a provision coverage ratio of 201.94%, up 6.73 percentage points [20]. - The bank has implemented a comprehensive risk management system, focusing on early detection and proactive control of risks, which has contributed to improved asset quality [20][21]. Group 5: Shareholder Returns - BoCom plans to distribute a cash dividend of 28.15 billion yuan for the 2024 fiscal year, resulting in a cash dividend ratio of 32.7%, maintaining a stable dividend policy for 13 consecutive years [24]. - The bank's strong growth and shareholder returns have been recognized by the capital market, with a stock price increase of over 40% in 2024 and a cumulative return exceeding 160% [24][25].