券商中国·2025-04-02 13:39Core Viewpoint - Postal Savings Bank of China (PSBC) demonstrated strong resilience in its development amidst a general narrowing of net interest margins in the industry, achieving growth in both revenue and profit for the year 2024 [1][2]. Financial Performance - In 2024, PSBC reported total operating revenue of 348.775 billion yuan, a year-on-year increase of 1.83%, ranking among the top state-owned banks [2][6]. - The bank's total assets exceeded 17 trillion yuan, reaching 17.08 trillion yuan, with a year-on-year growth of 8.64% [5][6]. - Net interest margin stood at 1.87%, leading among state-owned banks, and was 31 basis points higher than the average of commercial banks [7][8]. Asset and Liability Management - PSBC's total liabilities reached 16.05 trillion yuan, growing by 8.69% year-on-year [5]. - The bank achieved a net interest income of 286.123 billion yuan, reflecting a 1.53% increase despite industry pressures [7]. Loan and Deposit Growth - Customer loans increased by 9.38% year-on-year, surpassing the industry average, with personal loans growing by 6.74% [8]. - Customer deposits rose by 9.54%, with personal deposits accounting for 89.15% of the total [8]. Non-Interest Income - Non-interest income contributed 3.21% to total revenue, with significant growth in the corporate segment's intermediary income, which surged by 43% [9]. - The bank's assets under management (AUM) reached 16.69 trillion yuan, a 9.6% increase from the previous year [9]. Strategic Focus Areas - PSBC aims to deepen its focus on rural finance, inclusive finance, and personal finance, positioning itself as a leader in these areas [3][12]. - The bank has established a wealth management department to enhance its wealth management business [10]. Technological Advancements - PSBC invested 12.296 billion yuan in information technology, accounting for 3.53% of its revenue, to support its digital transformation [18]. - The bank has developed its own AI model, "Youzhi," which enhances operational efficiency and customer service [19][20]. Risk Management - The bank maintained a low non-performing loan ratio of 0.90% and a provision coverage ratio of 286.15%, indicating strong asset quality [22].