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Public company info - Bank of Jiujiang Co. Ltd.-H shares , 06190.HK

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Bank of Jiujiang Co. Ltd.-H shares, 06190.HK - Company Profile
Chairman LIU Xianting
Share Issued (share) 407,000,000
Par Currency Renminbi
Par Value 1.0
Industry Banks
Corporate Profile Business Summary: The Bank is principally engaged in comprise deposit taking, granting short-term, medium-term and long-term loans; domestic and overseas settlements; bill acceptance and discounting; issuing financial bonds; acting as agent to issue, settle and underwrite government bonds; trading of government bonds and financial bonds; inter-bank placement; providing letters of credit services and guarantee;acting as agent on inward and outward payments, acting as insurance agent; safe-box service and other businesses approved by the CBIRC. Performance for the year: In 2019, the Group achieved an operating income and total profit of RMB9,549 million and RMB2,283 million, representing an increase of 21.4% and 3.7%, respectively; with net profit standing at RMB1.881 billion, representing an increase of 5.3%. Return on capital amounted to 7.69% and return on assets amounted to 0.56%. At the end of 2019, the total assets of the Group amounted to RMB363,352 million, representing an increase of 16.6%. Various deposits amounted to RMB255,263 million, representing an increase of 17.1%; Daily average deposits amounted to RMB235,898 million, representing an increase of 19.9%. Various loans amounted to RMB178,956 million, representing an increase of 26.2%. Various investments amounted to RMB136,473 million, representing an increase of 12.4%. At the end of 2019, capital adequacy ratio amounted to 11.64%, representing a year-on-year increase of 0.09 percentage point. Non-performing loan ratio amounted to 1.71%, representing a year-on-year decrease of 0.28 percentage point. General allowance ratio amounted to 182.34%; allowance to gross loan ratio amounted to 3.12%; liquidity ratio amounted to 75.57%, and cost-toincome ratio amounted to 28.12%, with all the main regulatory indicators meeting regulatory requirements. Business Review: Corporate Banking Business The corporate banking business of the Bank adheres to its principle of moving forward with steady growth and continuously optimizes the structure of the corporate business to highlight the point of serving the real economy. Firstly, the basic business grew steadily. As of December 31, 2019, the Group recognised corporate banking operating income of RMB4,333 million, representing an increase of RMB465 million, or 12.0% compared to last year. The corporate deposit balance amounted to RMB163,434 million, representing an increase of RMB15,338 million, or 10.4% as compared to last year. The total corporate loan amounted to RMB106,032 million, representing an increase of RMB16,189 million, or 18.0% as compared to the end of last year. Secondly, the structure of the customers became more optimized. As of December 31, 2019, the number of corporate deposit customers was approximately 45,000, representing an increase of approximately 7,100 or 18.8% as compared to the end of last year. The number of corporate loan customers was approximately 3,900, representing an increase of approximately 1,400 or 53.6% as compared to the end of last year. Thirdly, the Bank's business qualifications have been expanding continuously, and the Group have obtained the qualification to conduct Class B lead underwriter in debt financing instruments for non-financial enterprises this year, and have entered into underwriting agreements with a number of provincial and municipal enterprises to achieve the first successful issuance of the Group’s underwriting business. The Group obtained the qualifications of provincial treasury centralized payment agency bank in Jiangxi Province, social insurance premium collection business of “Golden Insurance System”, and social insurance premium collection business of “Tax and silver sub-system”. At the same time, the first city commercial bank credit enhancement in Jiangxi Province for the Group’s overseas bond projects was launched. Retail Banking Business In 2019, the Bank’s retail banking business continued to build a “one core, two platforms” strategic plan based on improvement of retail products, and continued to deepen the “Mobile Jiuyin” business channel layout, establishing a retail marketing system, product system and interest system and ultimately achieved a larger scale of the retail business and the structural optimization of retail customers. Inclusive Financial Business During the reporting period, the Bank thoroughly implemented the requirements of the “Notice on Issuing the Plan of Promoting Inclusive Financing Development (2016-2020)” of the State Council, promoted the sinking effect of inclusive finance, focused on the New Sannong business, and explored the rural financial services market by innovating the Group’s products and business model. Financial Market Business In 2019, the Bank adhered to the principle of market orientation, proactively optimized asset allocation and strictly managed various risks. Meanwhile, it actively expanded the business qualifications and was delighted to receive multiple business qualifications and honors. The Bank obtained the qualifications of Class B lead underwriters of debt financing instruments issued by non-financial enterprises and a primary dealer in open market business of the central bank; its rating was upgraded to AAA; it was awarded the “Inter-Bank Local Currency Market Core Dealer” in 2018 and 2019 for two consecutive years, and the “Excellent Award for Net Bond Sole Settlement” of 2019 issued by Shanghai Clearing House; it was also awarded national awards such as “X-REPO Trading Mechanism Innovation Award", “Best Improvement Institute for Local Debt Underwriting Banks” and “Top 100 Clearing Companies – Excellent Dealer” by the Trading System and Central Clearing Company. Automobile Finance The Bank reinforced efforts on development of “Shang Dai Tong (商貸通)”. As of December 31, 2019, the Bank established a tripartite inventory financing cooperation with seven OEMs, with a comprehensive credit line of RMB7,400 million. Subsidiaries Business As of December 31, 2019, the Bank controlled 18 county banks, including 15 in Jiangxi Province and 3 in Beijing, Shandong Province and Jiangsu Province. The total assets of 18 county banks amounted to RMB13,938 million, increasing by 18.6% as compared to the end of last year. The total loan amounted to RMB6,328 million, increasing by 13.5% as compared to the end of last year. The deposits balance amounted to RMB11,987 million, increasing by 22.5% as compared to the end of last year. In 2019, 18 controlled county banks realized a net profit of RMB88 million. Prospects: In 2020, the Bank continues to adhere to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as the guideline and further strengthens “Four Consciousnesses”, secures “Four Confidences” and accomplishes “Two Maintenances". This is to remain true to the Group’s original aspiration, to bear the Group’s missions in mind, to strive to reach the goal in the shortest time and to live up to the good times. The Bank focused on the financial supply-side structural reform and revolved around the three major missions and regulatory policy requirements, and promoted the high-quality development of Jiuyin. First is to optimize the structure to achieve high-quality development. The Bank expanded and strengthened its customer base, optimized product research and development promotion and business operation processes, and steadily improved its traditional business, highlighting its distinctive business. Second is to motivate empowerment to improve quality and efficiency. The Bank further enhanced corporate governance and adhered to the organic unification of the Party committee overall leadership and the strategic deployment of the Board; the Bank continued to strengthen the role of discipline inspection and supervision, and promoted the synergy between the responsibilities of entities and supervisors; the Group will explore into the efficiency of human resources, integrate selection and training, and optimize the talent supply chain. Third is to prioritize compliance to strengthen the foundation of internal control. The Bank deepened the corporate culture of compliance priority, consolidate risk management, practice the credit culture of “due diligence, flexibility and service”, and promote the construction of project management in the whole process of credit; the Bank strengthened audit supervision, increased the use of audit results, and promoted the improvement of management capability and efficiency of the Bank. Fourth is to focus on efficiency to promote “Digital Jiuyin". Taking advantage of the launch of the new core system, the Bank implemented digitalized and refined management, enhanced technology empowerment and supported efficient operation. Taking “Digital Jiuyin” as the core, the Bank will promote platform integration, data exchange, capability opening and scenario aggregation to further enhance the level of technology enabling and leading role. The Bank adhere to “Digital Operation” and promote the construction of smart bank.

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