Share This

Public company info - Jinshang Bank Co. Ltd- H Shares , 02558.HK
Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

Jinshang Bank Co. Ltd- H Shares, 02558.HK - Company Profile
Chairman Wang Junbiao
Share Issued (share) 971,000,000
Par Currency Renminbi
Par Value 1.0
Industry Banks
Corporate Profile Business Summary: The principle activities of the Group are the provision of corporate and personal deposits, loans and advances, settlement, financial market business and other banking services as approved by the CBIRC. Performance for the year: For the year ended December 31, 2019, the profit before tax of the Group increased by 7.2% to RMB1,607.5 million from RMB1,499.7 million for the year ended December 31, 2018, and net profit for the same period increased to RMB1,482.4 million from RMB1,313.6 million for the year ended December 31, 2018, representing a year-on-year growth of 12.9%. For the year ended December 31, 2019, the net interest income of the Group increased by 2.1% to RMB3,244.8 million from RMB3,178.8 million for the year ended December 31, 2018, mainly due to the 4.7% increase in interest income for the period, which was partially offset by the increase in interest expense. The net interest spread of the Group was 1.68% for the year ended December 31, 2019, which was flat with that on December 31, 2018. The net interest margin of the Group decreased from 1.70% for the year ended December 31, 2018 to 1.61% for the year ended December 31, 2019. Business Review Corporate banking The Bank positions itself as a “financial steward” and a “partner of the real economy” for local governments in Shanxi Province, whereby it proactively participates in projects with key importance for local economic development in Shanxi Province, and provides corporate banking customers with a wide range of products and services, including corporate loans and advances, trade financing, deposit taking activities, agency services, wealth management services, financial consulting and advisory services, remittance and settlement services, and guarantee services. For the year ended December 31, 2019, the Group’s operating income from corporate banking was RMB3,191.5 million, representing a year-on-year decrease of 7.7% and accounting for 62.7% of the total operating income for the same period. The decrease in operating income from corporate banking was mainly due to the decrease of net interest income. As of December 31, 2019, the balance of corporate loans amounted to RMB72,937.8 million, representing a decrease of 1.3% from December 31, 2018. As of the same date, total corporate deposits amounted to RMB68,745.7 million, representing a decrease of 4.5% from December 31, 2018. For the year ended December 31, 2019, the Bank continued to improve its ability of catering to corporate banking customers’ needs for differentiated financial products, and also focused on the development of fee and commission-based corporate banking business and services, such as bonds underwriting, trade financing and acceptances, continuously optimized the business structure, and enriched its product portfolio. Retail banking Capitalizing on its deep knowledge of the local market and the preferences of retail banking customers, the Bank focused on developing and launching various well-received retail banking products and services and established strong competitiveness in terms of distribution channels, customer base, product mix, and innovative capacities. The Bank provided a range of products and services to retail banking customers, including personal loans, deposit taking services, personal wealth management services and remittance services. For the year ended December 31, 2019, the Group’s operating income from retail banking was RMB1,067.5 million, representing a year-on-year decrease of 0.6% and accounting for 21.0% of the total operating income for the same period. As of December 31, 2019, the personal loan balance was RMB17,835.4 million, accounting for 15.4% of the total loans and advances to customers. As of December 31, 2019, residential mortgage loans, personal consumption loans, personal business loans, and credit card balance were RMB10,787.9 million, RMB1,628.3 million, RMB2,569.1 million and RMB2,850.1 million, accounting for 60.5%, 9.1%, 14.4% and 16.0% of the total personal loans of the Bank, respectively. As of the same date, the Group’s total personal deposits amounted to RMB68,492.4 million, representing an increase of 18.2% from December 31, 2018. Relying on quality services, the number of retail banking customers of the Group further increased during the Reporting Period, from 2,343.6 thousand as of December 31, 2018 to 2,589.8 thousand as of December 31, 2019. After years of persistent efforts, the Bank has established an extensive business network in regions within Shanxi Province showing strong economic growth. As of December 31, 2019, the Bank had one head office, ten branches, 149 sub-branches (including four sub-branches directly administered by the head office, 125 city-level sub-branches, and 20 county-level sub-branches) and one 51.0% owned subsidiary, Qingxu Village and Township Bank. In total, the Bank had 159 outlets, which covered all 11 prefecture-level cities in Shanxi Province. During the Reporting Period, based on the comprehensive coverage of the business network, the Bank is committed to making use of advanced technologies to provide customers with convenient online and mobile financial products and services. During the Reporting Period, the Bank continuously enriched its online banking services and attracted customers with a good tailor-made user experience through technological upgrade. In addition, by integrating high-quality resources, the Bank provided professional and comprehensive financial services to high net worth individuals in the province. The newly established private banking center won 2019 China Financial Innovative Award – “Best Ten Innovative Family Trust Management Awards” (中國金融創新獎－“十佳家族信託管理創新獎”) for its outstanding services in the family trust field. On March 22, 2019, Jinshang Bank unveiled its banking brand officially. At the same time, it cooperated with Puyi Standard to release the white paper of regional private wealth “White Paper of Shanxi Province Private Wealth 2018”. Jinshang Bank won the “Best Regional Private Bank in China” award from China Banking Association in 2019 for its outstanding performance in the field of high-net-worth customer service in Shanxi. In 2019, Jinshang Bank Private Banking continuously carried out of its plans for asset allocation services with family trust business as the core, which enriched the offerings for high-net-worth customers and improved the customer loyalty to its services. The Bank won 2019 China Financial Innovative Award – “Best Ten Innovative Family Trust Management Awards” by the Banker for its outstanding services in the family trust field and the capability of continuous innovation. In order to brand the Bank’s private banking and maintain customers of private banking properly, the Private Banking Center focuses on the service system of “promoting the future (升擢未來)”, “promoting various privileges (升享尊貴)”, “promoting the level of wellbeing (升生之道)”, and “promoting extraordinary experience (升鑑不凡)”, actively explores the development model of private banking in line with its own development strategy, scale and management capabilities, deepens the service market of family wealth planning, creates a differentiated and distinctive private banking brand, and accelerates the steady and robust development of private banking in the region. Financial markets The financial markets business of the Group includes inter-bank money market transactions, repurchases transactions, inter-bank investments, bond investment and trading. It also covers management of the Group’s overall liquidity position, including the issuance of debts. During the Reporting Period, the Bank closely monitored the changes in the macroeconomic situation, adhered to the direction of financial market policies, strengthened the monitoring and analysis of market conditions, seized business development opportunities, and rationally formulated investment strategies and actively carried out innovative business under the premise of risk control, while continuously optimizing the investment portfolio, increasing the investment in standardized bonds, and gradually adjusting the asset structure. The financial market business continued to focus on liquidity management and to improve profitability, constantly promote new businesses, maintain risk prevention and compliance management, and continuously enhance the Bank’s market activity and influence. For the year ended December 31, 2019, the Bank was successively granted the qualifications of “2019 Renminbi Financial Bond Underwriting Market-Making Group of National Development Bank” and “Credit Risk Mitigation Tool Core Dealer of Inter-bank Dealer Association”. The acquisition of such qualifications further expanded the scope of the Bank’s bond underwriting and distribution business and credit risk prevention and control capabilities. For the year ended December 31, 2019, operating income from the Bank’s financial markets business amounted to RMB701.0 million, accounting for 13.8% of its total operating income, a 220.7% increase from RMB218.6 million in the same period in 2018, mainly due to the Bank increased financial market business asset scale, to increase financial market business income accordingly and decreased the cost of issuing interbank deposit simultaneously in 2019, considering the favorable conditions of the financial market and the Bank’s asset and liability management arrangement. Interbank Market Transactions The Group’s interbank market transactions business primarily consists of: (i) interbank deposits; (ii) interbank placements; and (iii) purchase under resale agreement and sale under repurchase agreement, which mainly involves bonds and bills. As of December 31, 2019, deposits with banks and other financial institutions were RMB1,303.7 million, accounting for 0.5% of the Group’s total assets as of December 31, 2019. As of the same date, deposits from banks and other financial institutions amounted to RMB4,211.3 million, accounting for 1.9% of the Group’s total liabilities as of December 31, 2019. As of December 31, 2019, placements with banks and other financial institutions were RMB1,300.4 million, accounting for 0.5% of the Group’s total assets as of December 31, 2019. As of the same date, placements from banks and other financial institutions were RMB1,911.5 million, accounting for 0.8% of the Group’s total liabilities as of December 31, 2019. As of December 31, 2019, financial assets purchased under resale agreements were RMB16,630.0 million, accounting for 6.7% of the Group’s total assets as of December 31, 2019. As of the same date, financial assets sold under repurchase agreements were RMB12,201.2 million, accounting for 5.4% of the Group’s total liabilities as of December 31, 2019. Investment Management The Group’s investment management business mainly consists of debt securities investment and SPV investment. Specifically, debt securities include debt securities issued by PRC government, policy banks, commercial banks and other financial institutions, and enterprises. SPV investment refers to investments in trust plans, asset management plans, wealth management products, and investment funds. When making debt securities investment and SPV investment, the Bank takes into account a broad range of factors, including but not limited to risk appetite, capital consumption level and expected yields of relevant products, as well as overall economic conditions and relevant regulatory development, to achieve a better balance between risk and return. As of December 31, 2019, the balance of bond investment was RMB33,847.7 million, representing an increase of 47.0% from December 31, 2018, mainly because the Bank actively increased its investment in debt securities, mainly including government bonds, policy financial bonds, local bonds and other interest rate bonds, based on the investment strategies and changes in the bonds market and taking into account of factors such as liquidity, average yield and risk profile. As of December 31, 2019, the balance of SPV investment was RMB50,326.3 million, representing a decrease of 1.8% from December 31, 2018, mainly because the Bank reduced the scale of investment such as trust plans and asset management plans in accordance with investment strategies. Wealth Management During the Reporting Period, the Bank actively expanded its wealth management products and services to attract a wider range of customers with different financial needs and risk tolerance, and effectively respond to the challenges of traditional banking services amid interest rate marketization. For the year ended December 31, 2019, the amount of wealth management products issued by the Group was RMB67,273.2 million, representing an increase of 16.1% from the year ended December 31, 2018, mainly due to the cash management products issued by the Bank were active in transactions and the scale of purchases on the trading date was large. As of December 31, 2019, the Group had more than 245,000 wealth management customers, a further increase from the end of 2018. As of December 31, 2019, the outstanding balance of wealth management products issued by the Group was RMB31,617.5 million, representing an increase of 15.5% from December 31, 2018, mainly because the Bank actively implemented the New Asset Management Regulations to increase the transformation of net worth wealth management products, demonstrated by an increase in the issuance of net worth products and their proportion in the balance of wealth management products. For the year ended December 31, 2019, the fee and commission net income from the wealth management products issued by the Group was RMB141.8 million, representing an increase of 11.8% from the year ended December 31, 2018, mainly due to the Bank’s successful transition into net worth wealth management products, the resulting increase in the issuance and retention of net worth wealth management products compared with previous year, and the reduction of the debt cost in the low interest rate environment, which all contributed to the net income growth. Debt Securities Distribution The Bank’s investment banking team provides customers with comprehensive financial services through the debt securities distribution business, to further leverage the Bank’s strong capacity in managing capital market transactions, and to broaden its customer base. The Bank obtained the preliminary and Class-B qualification for underwriting debt financing instruments issued by non-financial enterprises in October 2016 and February 2019, respectively, the latter of which allows the Bank to act as a lead underwriter in the regional market. For the year ended December 31, 2019, the aggregate principal amount of debt securities the Bank distributed amounted to RMB41,545.0 million, representing a decrease of 27.0% from the year ended December 31, 2018, mainly due to the below reasons: first, the number of bonds distributing business institutions has increased significantly; second, the focus of the Bank’s work has moderately transferred to the lead underwriting bonds issued by the Bank after the Bank obtained Class-B qualification. Prospects: The Group maintained strategic focus and smoothed operation of various businesses. First, the group continuously consolidated development strength. As of the end of 2019, the Group’s total assets amounted to RMB247.57 billion, representing an increase of RMB20.32 billion or 8.9% as compared to that at the beginning of the year; the balance of various deposits amounted to RMB155.32 billion, representing an increase of RMB10.42 billion or 7.2% as compared to that at the beginning of the year; the balance of various loans amounted to RMB115.48 billion, representing an increase of RMB13.84 billion or 13.6%; it realized a net profit of RMB1.48 billion, representing a year-on-year increase of RMB170 million; the major regulatory indicators such as the NPL ratio and capital adequacy ratio met regulatory requirements. Second, the group effectively upgraded development platform. On July 18, 2019, the Bank was officially listed on the Hong Kong Stock Exchange, becoming the first listed bank in Shanxi Province and filling the gap of listed banks in Shanxi Province, and marking the first bank stock IPO in Hong Kong H-share market in 2019. Third, the group continuously improved the brand value. The Bank was recognized as “the Most Competitive National Brand of China City Commercial Bank”, Shanxi Meritorious Enterprise and the Favorite Bank by People in Shanxi Province, etc., received the “May 1st Labor’s Day Award of Shanxi Province”, and was honored “Outstanding Contribution Award for Facilitating Transformation and Leaping Forward of Shanxi Province”. the group ranked 421st among the “2019 Top 1000 World Banks” by The Banker, moving up 19 places from its previous ranking in 2018. The Group focused on market positioning and stuck to serving the local economy. First, the group supported key local projects. the group coordinated the group's agencies to proactively approach, and helped the constructions of major projects such as municipal works, rail transit, and infrastructures with all efforts according to the lists of local governments’ key projects. the group further widened the “green lanes” for credit approval, and provided credit support to relevant enterprises in the Comprehensive Reform Demonstration Zone within a short time span, which has been unanimously recognized by the Comprehensive Reform Demonstration Zone and the enterprises settled there. Second, the group assisted enterprises transformation. In response to the transformation financial needs of strategic customers, the group actively innovated financial means, mobilized financial resources from various parties, and provided energy companies with efficient and high-quality comprehensive financial services. In 2019, the accumulated syndicated loans lead by the Bank amounted to RMB2.05 billion and the syndicated loans participated by the Bank amounted to RMB410.0 million. the group focused to support environmental protection, energy saving and emission reduction projects, and accessed a great base of green and clean energy potential customers. Third, the group intensified the cooperation between governments and the Bank. the group continuously enriched the forms and scope of government-bank cooperation, and carried out in-depth cooperation in a number of tasks, such as subscriptions to local debts, promoting the development of new materials industries, and implementing county-town medical integrated informatization transformation. Fourth, the group promoted inclusive finance services. the group continued to increase investments in resources for private and small and micro enterprises, and carried out a series of works to improve quality and efficiency in the implementation of task indicators, innovation and optimization of products, and prevention and mitigation of risks. the group gathered the strengths and resources of various departments and institutions, firmly tackled the task of poverty alleviation, worked on the key tasks of poverty alleviation by industries, deployed staff in villages to give assistance, and facilitated infrastructure construction, and upheld and practiced the concept of inclusive finance with concrete actions. The Group maintained the leadership in innovation, achieved remarkable results in the transformation of businesses. First, the group continued to grow the retail business. The size of retail customer financial asset management exceeded RMB100 billion, a record high in growth, and the competitiveness and influence in the retail business market strengthened significantly. the group gradually expanded the online sales channels for deposit products, and continuously consolidated the foundation for personal deposits. The residential mortgage business has become a new driving force for personal loan business as it developed rapidly. the group became professional in wealth management business, established five “Jin Sheng Cai Fu Star Studios” and won the titles of “Best Regional Private Banks in China” and “Best Ten Innovative Family Trust Management Awards”. Second, the group accelerated the development of the group's businesses. the group continued to improve the level of the Company’s customer management through strengthening the management of customer list and marketing guidelines. the group continued to drive the growth of intermediary business revenue through upgrading the combination of trade financial products such as domestic letters of credit, forfaiting, and cash management platforms. the group connected with financial institutions such as policy banks, insurance companies, securities house, trusts, etc., and conducted in-depth cooperation in the aspects of fund agency, loan agency, business agency, etc., to further broaden the channels of deposit retention for the Company. Third, the group had strong rising businesses. the group marked a significant development in the investment banking business. As a result of developing businesses including bond underwriting, syndicated loans, financing plans, the volume of underwriting business performed well among China’s leading underwriters, with a ranking of 53rd, and the market influence has enhanced significantly. the group's direct banking business has grown rapidly, forming a relatively comprehensive product line covering products such as deposits, wealth management, and investment, being granted with the titles of “Outstanding Internet Financial Bank” and “China Internet Finance Emerging Bank”. the group achieved breakthrough growth in the credit card business, and took the lead among regional banks in various measures such as “JD Co-Branded Cards”, launched Sandalwood Card of Wutai Shan, and initially established a credit card brand with local lifestyle characteristics. The Group improved mechanisms and deepened management reform constantly. First, the group began to achieve results from the reforms of major business lines. Based on regional characteristics and its own capabilities, the group actively explored unique and differentiated development. The management committees of retail and corporate businesses operated smoothly. The departments of institutional client, trade finance, corporate finance, and investment banking coordinated in operations. The retail and corporate businesses have entered a new stage of development. In line with the development trend of financial technology, the group basically completed the reform of the technology line, put the five-center structure into operation officially, further enhanced the professionalization of technology works and the internal coordination ability between departments. At the same time, the group organized agile development teams across lines and departments to establish mechanisms of agile development innovation and to promote integration of technology and business. the group continued to promote intensive development, started to implement “Project One 2.0” plan, solidly advanced the pilot work of the integration reform of the hall operation, and provided customers with a better experience. Second, comprehensive strengthening of the risk compliance concept. Facing the new economic normal and new regulatory requirements, the group continued to improve the comprehensive risk management system and made a robust risk management and control mechanism, and firmly maintained the bottom line of preventing systemic and regional financial risks. the group vigorously promoted the adjustment of credit customer structure, conducted classified access management by industry, improved risk identification capabilities, strictly implemented accountability mechanisms, strengthened the disposals of non-performing assets, and ensured the overall credit risks to be controllable. the group continued to improve liquidity risk management strategies, reinforced market forward-looking forecasts, strictly implemented review management of caps, and conducted stress tests on a regular basis, significantly improving the level of liquidity risk management. the group attached great importance to the construction of a compliance culture, and built “three lines of defense” in which departments of business, internal control, and audit jointly managed operations and compliance risks. Third, the group continuously strengthened the construction of talent teams. the group further expanded the group's senior and mid-level management team, promoted the construction of the three-level staff team at the head office, branches, and sub-branches, and improved the training mechanism, established an internal trainer team, implemented work rotation in management trainees, urged all lines to carry out training, and strove to improve the professional quality of staff at all levels to provide powerful support in terms of human resources for the development of the Bank as a whole.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.