深读｜找回曾经的辉煌，张为忠与浦发银行的新路

Core Viewpoint - Zhang Weizhong, the new president of SPDB, aims to revitalize the bank through a "digital intelligence" strategy and a new leadership team, despite facing significant challenges and a recent decline in performance [2][6][4]. Financial Performance - In 2024, SPDB achieved a net profit of 45.257 billion yuan, a year-on-year increase of 23.31%, marking the highest growth in 12 years [4][6]. - The bank's net profit had previously declined by 28.28% in 2023, with revenue dropping by 8.05% [6][2]. - The bank's total revenue in 2024 was 170.748 billion yuan, a slight decrease of 1.55% year-on-year, but adjusted for one-time factors, it showed a 0.92% increase [4][6]. Strategic Initiatives - The "digital intelligence" strategy was introduced in 2023 and further developed in 2024, focusing on key product innovation and strategic breakthroughs [6][7]. - Zhang Weizhong has emphasized a multi-dimensional layout, including strengthening group collaboration and enhancing cross-border financial services [7][10]. Challenges and Risks - Despite the positive net profit growth, SPDB faces ongoing challenges, including a decline in retail business revenue and an increase in retail loan non-performing rates [11][12]. - The bank's retail financial business saw a revenue decline of 14.40% to 54.435 billion yuan, with non-performing loan rates rising to 1.61% [11][12]. - The bank's overall revenue growth is hindered by narrowing interest margins and declining fee income, with net interest income down 3.14% and fee income down 6.69% [12][13]. Asset Quality - SPDB reported a decrease in non-performing loan balance to 73.154 billion yuan, marking a continuous decline for five years [15][16]. - However, the bank's attention loans increased, indicating potential future risks, with the balance rising to 126.507 billion yuan [15][16]. Regional Performance - The bank's performance in the Pearl River Delta and the West region has deteriorated, with significant losses reported in these areas due to increased credit impairment losses [20][21]. - Conversely, the headquarters has turned a profit after previously reporting losses, indicating a shift in regional performance dynamics [21][22].