Bank Of Jiangsu(600919)2019-04-26 16:00Financial Performance - As of the end of 2018, Jiangsu Bank's total assets reached RMB 1.93 trillion, an increase of 8.77% year-on-year[14] - The net profit for 2018 was RMB 13.263 billion, representing a growth of 10.37% compared to the previous year[14] - The total operating revenue for Q4 2018 reached 9,154,843 thousand RMB, while the net profit attributable to shareholders dropped to 2,807,383 thousand RMB[43] - The company reported a total of RMB 91,011,534 thousand in customer wealth management funds, a decrease from RMB 100,820,547 thousand in the previous year, representing a decline of 9.00%[120] - The company achieved a net commission and fee income of RMB 5,222.29 million in 2018, a decrease of 9.63% from RMB 5,779.02 million in 2017[92] - The company reported a significant reduction in income tax expenses, which decreased by 43.34% to RMB 1,004.89 million in 2018 from RMB 1,773.59 million in 2017[89] - The company reported a significant increase in investment income, which rose to RMB 3,833.81 million, a staggering 1577.47% increase from RMB 228.55 million in 2017[89] - The bank's core tier one capital adequacy ratio was 11.03%, while the tier one capital adequacy ratio was 11.58%[179] - The company reported total operating income of 35.22 billion RMB, with a net profit attributable to shareholders of 13.065 billion RMB, reflecting growth of 4.09% and 10.02% respectively[87] Loan and Deposit Growth - Total deposits amounted to RMB 1,093.3 billion, reflecting a year-on-year growth of 8.48%[14] - The total loan balance was RMB 889.2 billion, with a year-on-year increase of 18.99%[14] - The balance of small and micro enterprise loans exceeded RMB 360 billion, with the bank being recognized as a leading provider of small micro financial services in Jiangsu Province for 11 consecutive years[17] - Retail loans increased by over 40% year-on-year, with consumer loan balance reaching CNY 105.6 billion, a growth of over 80%[24] - Personal deposits increased by 15.06% year-on-year to 216 billion RMB, while personal loan balances surged by 44.02% to over 270 billion RMB[77] - The total loan amount of the group reached 889.21 billion RMB, an increase of 18.99% compared to the beginning of the year[102] - The total deposits of the group amounted to 1,093.3 billion RMB, reflecting an increase of 8.48% from the beginning of the year[118] Asset Quality and Risk Management - The bank's non-performing loan ratio was 1.39%, a decrease of 0.02 percentage points from the beginning of the year[29] - The coverage ratio for loan loss provisions was 203.84%, an increase of 19.59 percentage points year-on-year, with total provisions amounting to RMB 25,231,479 thousand[136] - The total amount of non-performing loans (NPLs) was RMB 12,378,298 thousand, with an NPL ratio of 1.39%, a decrease of 0.02 percentage points from the beginning of the year[124] - The company implemented measures to optimize credit asset structure and control new NPLs, including enhancing risk management and adjusting credit policies[133] - The company maintained a stable reputation risk status, with ongoing training and management mechanisms in place to mitigate potential risks[153] Strategic Initiatives and Innovations - Jiangsu Bank launched the "New Momentum Plan," providing a total of RMB 300 billion in loans to the real economy, serving over 4,000 enterprises[16] - The company established a green finance product system, including "basic credit, green funds, carbon finance, and specialized financing"[73] - The company launched new technology applications, including artificial intelligence platforms and upgraded its international intelligent settlement platform[70] - The bank aims to enhance its service capabilities for small and micro enterprises, leveraging online service advantages[173] - The bank is committed to improving financial technology contributions by enhancing digital operations and customer journey digitization[175] Shareholder and Governance Commitments - Jiangsu Bank proposed a profit distribution plan to distribute a cash dividend of RMB 3.40 per 10 shares, totaling RMB 3,925.11 million[6] - The cash dividend per 10 shares increased to 3.40 yuan in 2018 from 1.80 yuan in 2017, reflecting a significant rise in shareholder returns[186] - Jiangsu Bank's major shareholders have also committed to not transferring their shares for 36 months post-listing, ensuring stability in ownership[189] - The bank has implemented measures to prevent conflicts of interest with its major shareholder, ensuring no direct competition in core banking activities[191] - Jiangsu Bank's management has pledged to adhere to regulations regarding the non-distribution of benefits to other entities or individuals, safeguarding the bank's interests[192] Awards and Recognition - The bank received multiple awards for its contributions to social responsibility and innovation in financial services during 2018[10] - The private banking client base increased by over 40%, with assets exceeding 100 billion RMB, and the company received multiple awards for its wealth management services[161]