Bank of Shanghai’s 2023 first quarterly report: Scale profit grows steadily and characteristic business advantages are consolidated
On the evening of April 27, Bank of Shanghai (stock code: 601229) released its first quarterly report for 2023. Bank of Shanghai has always adhered to strategic guidance, actively promoted the conclusion of the current three-year development plan (2021-2023), responded to the national macro policy orientation, continuously improved the quality and efficiency of financial services for the real economy, promoted structural adjustment, accelerated transformation and development, and strengthened credit risk management system, enhance comprehensive risk management capabilities, deepen digital transformation, strengthen fintech empowerment, and improve the level of financial service innovation.
Steady growth in scale and profit
The report shows that at the end of March 2023, the total assets of Bank of Shanghai were 2.97013 billion yuan, an increase of 3.18% over the end of the previous year. From January to March, the operating income was 13.2 billion yuan; the net profit attributable to shareholders of the parent company was 6.043 billion yuan, a year-on-year increase of 3.25%; the basic earnings per share was 0.43 yuan, a year-on-year increase of 4.88%; The net assets of shareholders were 206.346 billion yuan, an increase of 2.61% over the end of the previous year.
Bank of Shanghai focused on its main responsibilities and main businesses, accelerated credit extension in key areas such as inclusive, green, technological innovation, and manufacturing, and continued to optimize the credit structure. The total amount of customer loans and advances was 1,343.962 billion yuan, an increase of 3.02% over the end of the previous year; strengthened customer expansion , Strengthening the drive of products and transactions drove the steady growth of deposits. The total deposits were 1,647.155 billion yuan, an increase of 4.82% over the end of the previous year.
The report shows that the asset quality of Bank of Shanghai remains stable. At the end of March 2023, the non-performing loan ratio was 1.25%, which was the same as the end of the previous year; the provision coverage ratio was 286.84%, and the loan provision ratio was 3.58%, indicating an adequate risk provision level. At the end of March 2023, the capital adequacy ratio of Bank of Shanghai was 13.22%, the tier-one capital adequacy ratio was 10.18%, and the core tier-one capital adequacy ratio was 9.25%, all of which were higher than those at the end of the previous year.
Rapid development of featured businesses
At the end of March 2023, the number of corporate customers of Bank of Shanghai increased by 1.71% from the end of the previous year; the balance of RMB corporate loans and advances increased by 7.15% from the end of the previous year; the balance of RMB corporate deposits increased by 4.23% from the end of the previous year.
The first quarterly report shows that Bank of Shanghai grasps the main line of stable growth, focuses on key areas such as inclusive finance, green finance, science and technology innovation finance and manufacturing, innovates and improves financial products and services that serve the real economy, and enhances professional service capabilities. At the end of March 2023, the balance of inclusive loans, green loans, people’s livelihood financial loans, manufacturing loans, and technology-based enterprise loans increased by 9.25%, 15.05%, 10.30%, 6.58%, and 6% respectively compared with the end of the previous year.
Bank of Shanghai deepened its interbank investment and transaction capabilities in the gold market, and continued to promote the optimization of its business structure. Strengthen the research and judgment of market trends, focus on increasing the allocation of interest rate bonds, financial bonds and high-grade credit bonds, actively seize trading opportunities, and strengthen the output of core trading capabilities for customer service. At the end of March, the scale of bond investment increased by 11.43% compared with the end of the previous year, and the number of customers of agency business increased by 14.71% compared with the end of the previous year.
Deeply develop retail financial business
Bank of Shanghai adapts to market changes, improves high-quality services and digital experience, meets customers’ all-round and multi-level financial needs, makes breakthroughs in pension finance, wealth management, consumer finance and other fields, and accelerates the cultivation of characteristic businesses and structural optimization. At the end of the reporting period, the retail customers of Bank of Shanghai increased by 0.86% compared with the end of the previous year; the balance of RMB personal deposits increased by 6.86% compared with the end of the previous year. Among them, Bank of Shanghai has always maintained the No. 1 market share of pension customers in Shanghai; the intermediary business income of wealth management increased by more than 21% compared with the fourth quarter of last year.
At the same time, Bank of Shanghai has accelerated the issuance of medium- and long-term high-quality retail credit, based on its location advantages, serving residents’ reasonable demand for housing purchases, actively deploying green credit fields, increasing cooperation with leading new energy car manufacturers, and launching targeted credit card activities around customers’ diverse consumption needs , Use affordable subsidies to promote consumption. At the end of March, the balance of housing mortgage loans increased by 0.35% compared with the end of the previous year; the balance of consumer loans for new energy vehicles increased by 44.80% compared with the end of the previous year.