The six major state-owned banks ( Industrial And Commercial Bank Of China Limited(601398) , Agricultural Bank Of China Limited(601288) , Bank Of China Limited(601988) , China Construction Bank Corporation(601939) , Bank Of Communications Co.Ltd(601328) and Postal Savings Bank Of China Co.Ltd(601658) ) handed over their transcripts in 2021: the total net profit attributable to shareholders (the same below) was 1272344 billion yuan, a positive increase over 1138224 billion yuan in 2020, an increase of more than 11%.
In 2021, the total daily earnings of the six state-owned banks exceeded 3.485 billion.
Unlike the double rise of non-performing loans in 2020, the asset quality performance of the six major state-owned banks in 2021 was different. The non-performing rate of ICBC and Bank of communications decreased. The non-performing loan rate of the other four banks decreased last year, but the balance of non-performing loans increased.
Postal Savings Bank Of China Co.Ltd(601658) asset scale exceeds that of Bank of communications
In terms of asset scale, in 2021, Postal Savings Bank Of China Co.Ltd(601658) surpassed Bank Of Communications Co.Ltd(601328) , becoming China’s fifth largest commercial bank in terms of assets, while ICBC, China Construction Bank, Agricultural Bank of China and Bank of China continued to rank in the top four.
Total assets and net profits of six major state-owned banks at the end of 2021
Different from the scale of assets, the ranking of the six state-owned banks in terms of profitability has not changed.
Among them, ICBC, the “largest bank in the universe”, still has the strongest profitability, with a net profit of 348338 billion yuan attributable to its shareholders, and a net profit of 302513 billion yuan, 241183 billion yuan, 216559 billion yuan, 87.581 billion yuan and 76.17 billion yuan attributable to its shareholders respectively from CCB, ABC, BOC, BOCOM and Postal Savings Bank Of China Co.Ltd(601658) Bank of communications.
In 2021, the six major state-owned banks achieved double-digit net profit growth, of which Postal Savings Bank Of China Co.Ltd(601658) was the highest, while the other five were equal.
Specifically, last year, the net profit growth of ICBC, China Construction Bank, Agricultural Bank of China, Bank of China, Bank of communications and Postal Savings Bank Of China Co.Ltd(601658) attributable to the shareholders of the bank was 10.27%, 11.61%, 11.70%, 12.28%, 11.89% and 18.65% respectively, which was significantly higher than that in 2020. In 2020, the net profit of the six major state-owned banks increased by 1.20%, 1.62%, 1.80%, 2.92%, 1.28% and 5.36% respectively.
ICBC and BOCOM’s non-performing loans decreased both
Affected by the epidemic, the six major state-owned banks with double increases in non-performing loan balance and non-performing loan ratio in 2020 will stabilize their asset quality in 2021.
Among them, although the decline in the non-performing loan ratio of BOCOM last year was the largest among the six major state-owned banks, the non-performing loan ratio of 1.48% was still the highest The non-performing rate of Postal Savings Bank Of China Co.Ltd(601658) is still far lower than that of the other five companies. By the end of 2021, the non-performing rate was only 0.82%, down 0.06 percentage points from the end of the previous year.
Among the four major banks, the non-performing loan ratio of ICBC, China Construction Bank and Agricultural Bank of China is “equal”, while that of Bank of China is the lowest, at 1.33%.
Asset quality of six state-owned banks in 2021
Among the six major state-owned banks, the balance of non-performing loans of ICBC and bocom decreased by 549 million yuan and 902 million yuan respectively compared with the previous year, while the balance of non-performing loans of ABC increased the most, an increase of 8.669 billion yuan compared with the end of 2020.
For this year’s asset quality, Cheng Yuanguo, chief risk officer of CCB, said at the performance meeting that this year, it will continue to maintain management concentration, steadily and effectively deal with the triple pressure, prevent the impact of geopolitics, and strengthen the undertaking, initiative, pertinence and effectiveness of risk management. It is expected that the asset quality and credit cost will remain stable.
