Bank Of Communications Co.Ltd(601328) at today’s performance press conference, for the market’s attention to the recent net value fluctuation of bank financial products, Bank Of Communications Co.Ltd(601328) business director and chairman of BOCOM financial management Tu Hong responded that the vast majority of BOCOM financial products are mainly invested in the bond market, and the allocation of equity assets accounts for a relatively low proportion; Therefore, there will be an impact in the short term, but there will be a reversal in the long term.
At the end of 2021, the total assets of BOCOM financial management were 10.206 billion yuan and the net assets were 9.929 billion yuan; During the reporting period, the net profit was 1.155 billion yuan, a year-on-year increase of 73.61%. At the end of the reporting period, the balance of financial products was 1224664 billion yuan, an increase of 129.43% over the end of the previous year. Among them, the balance of products sold on a commission basis outside the bank was 409859 billion yuan, accounting for 33.47%, and the scale of sales on a commission basis outside the bank was in the forefront of the financial management subsidiary in the same industry.
At the level of BOCOM group, by the end of 2021, the time point balance of off balance sheet financial products was 1384278 billion yuan, an increase of 24.89% over the end of the previous year, of which the time point balance of net worth financial products was 1224664 billion yuan, accounting for 88.47% of financial products, an increase of 27 percentage points over the end of the previous year.
At the performance meeting, Tu Hong also introduced that BOCOM has also made targeted product adjustments recently, balanced the allocation of different industries and stabilized the net value of bank financial products. He said that the issuance of financial products adhered to the idea of low volatility and stable operation, and kept the “money bag” for investors with an overall, sustained and stable performance.
