Core Insights - Shanghai Pudong Development Bank (SPDB) reported strong financial performance for 2024, with operating income reaching 170.748 billion yuan, a year-on-year increase of 0.92% after excluding one-time factors from the previous year [1][3] - The bank's net profit attributable to shareholders was 45.257 billion yuan, reflecting a significant year-on-year growth of 23.31%, driven by credit expansion, asset structure optimization, and enhanced risk management capabilities [3][6] - SPDB achieved a historic high in credit growth, with net credit increase exceeding 370 billion yuan for the year, while maintaining improving asset quality with a decrease in both non-performing loan balance and ratio [3][5] Financial Performance - The total assets of SPDB reached 9.46 trillion yuan by the end of 2024, marking a 5.05% increase from the previous year [3] - The total loans (including discounted bills) amounted to 5.39 trillion yuan, up 7.45% year-on-year [3] - The total liabilities of the bank were 8.72 trillion yuan, a 5.35% increase, with total deposits reaching 5.15 trillion yuan, reflecting a 3.24% growth [3] Asset Quality - Non-performing loan balance stood at 73.154 billion yuan, with a non-performing loan ratio of 1.36%, indicating continuous improvement in asset quality [5] - The provision coverage ratio increased to 186.96%, up 13.45 percentage points from the previous year, the highest level since 2015 [5] Strategic Focus - SPDB emphasized its commitment to serving the real economy through five key areas: technology finance, green finance, inclusive finance, pension finance, and digital finance [6][7] - The bank served over 71,000 technology enterprises, with technology finance loans exceeding 600 billion yuan, ranking first among joint-stock banks [6] - Green credit balance reached 625.6 billion yuan, with a year-on-year growth of 19.25%, positioning the bank among the leaders in the sector [6] Digital Transformation - SPDB's digital banking client base surpassed 87 million, with significant upgrades in digital financial services [7] - The bank's asset management business grew to 2.7 trillion yuan, a 35% increase from the previous year, showcasing the success of its digital strategy [8] - Investment in information technology reached 7.169 billion yuan, a 2.92% increase, supporting the bank's digital transformation efforts [9]