深度 | 狂飙中的江苏银行，暗藏危机

Core Viewpoint - Jiangsu Bank, recognized as a leading city commercial bank, shows strong performance in hard metrics but falls short in soft metrics, particularly in ESG ratings, especially in corporate governance [1][3][22] ESG Performance - Jiangsu Bank's ESG score is 21 out of 100, ranking last among seven major listed city commercial banks, with all three categories (E, S, G) below average [3][5] - The bank's environmental score is 11, significantly lower than the average of 12.71, with notable deficiencies in decarbonization and climate strategy [5][6] - In the social category, Jiangsu Bank scores 16, below the average of 22.86, particularly poor in labor practices [5][6] - The governance score is 26, also below the industry average of 27.86, with low scores in business ethics and corporate governance [6][7] - The bank has faced five penalties for inflating loans and deposits, indicating governance issues and a lack of effective consumer financial protection [8][9][10] Financial Performance - Jiangsu Bank's financial investment assets grew from 845.9 billion to 1.53 trillion from 2020 to 2024, with a compound annual growth rate of 12.53% [14][17] - Despite strong asset growth, the bank's investment income growth is not competitive compared to peers, with a 20.86% increase in 2024, lower than other leading banks [17][21] - The core Tier 1 capital adequacy ratio is 9.12%, below the industry average, raising concerns about capital adequacy [18][21] - The non-performing loan ratio is low, but this is attributed to increased write-offs, with a significant rise in the amount of non-performing assets written off [21][22]