邮储银行首启代理费主动调整 资本计量高级法落地在即

Group 1: Core Insights - Postal Savings Bank of China (PSBC) is addressing two main concerns: the long-term "tight balance" state of its core Tier 1 capital and the unique agency fee adjustment mechanism from its "self-operated + agency" model [2][3] - The bank is set to receive a capital injection of 130 billion RMB from the government, which is expected to increase its core Tier 1 capital adequacy ratio by 1.5 percentage points [2][7] - The bank plans to implement a proactive adjustment of agency fees, transitioning from a previously reactive approach to a more strategic one [2][8] Group 2: Financial Performance - In 2024, PSBC reported operating income of 349.133 billion RMB, a year-on-year increase of 1.81%, and a net profit attributable to shareholders of 86.479 billion RMB, up 0.24% [4] - Total assets exceeded 17 trillion RMB, growing by 8.64%, while total liabilities surpassed 16 trillion RMB, increasing by 8.69% [4] - The bank's non-performing loan ratio stands at 0.90%, with a non-performing loan generation rate of 0.84% and a provision coverage ratio of 286.15% [5] Group 3: Strategic Initiatives - The bank aims to enhance its asset-liability management flexibility and proactivity to build a more balanced and resilient balance sheet [5][6] - Key strategies include improving loan allocation capabilities, consolidating core competitive advantages in liabilities, and implementing more flexible non-credit allocation strategies [5][6] - The bank is transitioning towards a more robust income model, balanced business structure, coordinated market structure, efficient operational system, excellent risk control system, and high-quality collaborative system [6] Group 4: Capital Increase and Shareholder Impact - The recent capital increase will not affect the 2024 dividend for existing shareholders, as the issuance will occur after the annual dividend distribution [7] - The capital increase is the largest in the bank's history, directly enhancing the core Tier 1 capital adequacy ratio by 1.5 percentage points [7][8] - The government will become the second-largest shareholder with a 15% stake, reflecting strong confidence in the bank's future [7][8]