山西银行VS晋商银行：山西两大城商行的PK

Core Viewpoint - The article compares two city commercial banks in Shanxi Province: Shanxi Bank and Jinshang Bank, highlighting their differences in ownership structure, financial performance, and operational efficiency [2][34]. Ownership and Structure - Shanxi Bank was established in 2021 through the merger of five city commercial banks and has a significant state-owned capital investment, with its largest shareholder holding 59.09% [3]. - Jinshang Bank originated from the merger of 47 city credit cooperatives in 1998 and has a more diversified ownership structure, with the largest shareholder being the Shanxi Provincial Finance Department at 12.25% [5]. Capital Market - Jinshang Bank is publicly listed on the Hong Kong Stock Exchange since 2019, while Shanxi Bank has not yet gone public [6]. Operational Coverage - As of the end of 2024, Shanxi Bank has 314 branches across 10 cities in Shanxi, while Jinshang Bank has 153 branches covering all 11 cities in the province [7]. Subsidiaries - Shanxi Bank has one controlling subsidiary and 16 equity investees, all focused on village and town banking within Shanxi [8]. - Jinshang Bank has one controlling subsidiary and one affiliated company, indicating a more streamlined subsidiary structure [8]. Employee Situation - Shanxi Bank employs 6,704 staff members, while Jinshang Bank has 4,373 employees, reflecting a larger workforce in Shanxi Bank [9]. Financial Performance - As of the end of 2024, Shanxi Bank's total assets were 3593.45 billion, slightly lower than Jinshang Bank's 3763.06 billion [11]. - Jinshang Bank's operating income was significantly higher at 57.99 billion compared to Shanxi Bank's 31.74 billion, indicating better revenue generation [11]. - The net profit attributable to shareholders for Shanxi Bank was only 0.51 billion, while Jinshang Bank achieved 17.55 billion, showcasing a stark contrast in profitability [11][18]. Asset Quality - Shanxi Bank's non-performing loan (NPL) ratio was 2.50%, higher than Jinshang Bank's 1.77%, indicating poorer asset quality [12]. - The provision coverage ratio for Shanxi Bank was 154.76%, lower than Jinshang Bank's 205.46%, suggesting Jinshang Bank is better positioned to cover potential loan losses [12][26]. Efficiency Metrics - Jinshang Bank's net interest margin was 1.20%, while Shanxi Bank's was only 0.57%, reflecting a significant difference in interest income efficiency [12][24]. - Average employee compensation in Jinshang Bank was higher at approximately 320,000, compared to Shanxi Bank's 210,000, aligning with its superior operational performance [31]. Conclusion - Overall, Jinshang Bank demonstrates stronger financial performance, better asset quality, and higher operational efficiency compared to Shanxi Bank, which has faced challenges in profitability and asset management [34][35].