Financial Summary
- The bank materialized an operating income of
- The Bank materialized net interest income of
- Profit before provision of
- Net profit achieved of
- Net interest margin increased by 62 basis points to 2.21% in 2019. Net interest spread increased by 65 basis points to 1.88% in 2019.
- Return on average assets increased by 7 basis points to 0.69% while Return on average equity increased by 17 basis points to 9.32% as compared to 2018. Earnings per share are up to
- Capital adequacy ratio reached 15.24%, representing an increase of 0.71 percentage point as compared to 2018; Tier-one capital adequacy ratio reached 10.63%, representing an increase of 0.79 percentage point as compared to 2018. Capital adequacy ratio reaching 10.62%, representing an increase of 0.79 percentage point as compared to 2018;
- For the year ended
- Total equity reached
- Total liabilities of
In 2019, the Bank materialized an operating income of
Promote the strategy of "transformation + innovation"
In 2019, we further realized our six core strategic visions of becoming the "mainstream bank in
Our corporate banking business adhered to the "Four Tailor-made Approaches". A "Corporate Customer Account Management" mechanism was set up across the Bank to strengthen management of group customers and government customers, and thus enhanced the quality and efficiency of the Bank's corporate banking business while serving the real economy. Our personal banking continued to priorities boundless connections. With the aim of bringing convenience to people, the Bank has developed a new model which enables it to acquire customers in massive number through utilizing financial technologies and product innovation. The Bank promoted the intelligent reformation of its outlets and optimized its personnel layout at its outlets and its business structure, which thoroughly enhanced the service capability of its outlets. The Bank continued to insist on returning to the origins for its financial market business, and it had further optimized its asset portfolio and continued to increase the allocation of assets with high credit rating and standard securities in this regard, achieving enhanced quality and efficiency.
Asset and liability structure optimization and Sources of financing expansion
In 2019, total assets and total liabilities increased by 1.5% and 1.1% as compared to the same period of last year. As our focus turned back to real instead of virtual assets, our support to real economy further strengthened. The average balance of loans and advances to customers increased by 18.8% as compared to 2018. We continued to squeeze and reduce our investment assets while adjusting the investment portfolio. The average balance of our investment securities and other financial assets decreased by 9.6% as compared to 2018. Among them, the average balance of investment in assets, such as trust beneficiary rights, wealth management products, and asset management plans, decreased by 19.9% as compared to 2018, and the average balance of standard assets such as security investments increased by 3.2% as compared to 2018. In terms of liabilities, the Bank stepped up its marketing effort for deposit-taking business, with the average amount due to customers increased by 0.9% as compared to 2018. Taking full advantage of various financing instruments, we broadened our liability sources, hence further optimizing our liability structure and reducing our financing costs. Our ratio of interbank borrowings to total liabilities (measured in accordance with the standards of the PBoC and CBIRC, excluding subsidiaries) decreased from 30.09% as at the end of 2018 to 26.72% as at the end of 2019.
The Bank further strengthened its pricing management while adjusting its asset-liability structure. Average yield of the loans and advances to the Bank's customers reached 6.76%, representing a significant increase of 121 basis points as compared to the same period in 2018. The Bank's net interest margin increased by 62 basis points from 1.59% in 2018 to 2.21% in 2019. Net interest spread increased by 65 basis points from 1.23% in 2018 to 1.88% in 2019. Net interest margin and net interest spread demonstrated a "double increment" for two consecutive years.
Keep financial risks at bay and deepen the financial reform
Looking forward to 2020, it is expected that the world economic growth will continue to slow and remain in a period of deep adjustment following the international financial crisis. Sources of global turbulence and risk will increase noticeably. In the face of the challenges and opportunities, while based on the regional economic development, the Bank will closely abide by the State's policy, "improve the real economy, keep financial risks at bay and deepen the financial reform", in order to provide diversified and differentiated financial services for the coordinated development of the
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