On March 30, with Industrial And Commercial Bank Of China Limited(601398) , Agricultural Bank Of China Limited(601288) and Postal Savings Bank Of China Co.Ltd(601658) disclosing the annual performance report of 2021, the annual reports of the six major state-owned banks were fully disclosed.
As the leader of listed banks and even A-share listed companies, the six major state-owned banks, while adhering to the origin of financial services to the real economy, handed over a performance answer sheet with overall profit growth and collective stable asset quality. According to the statistics of the reporter of Securities Daily, in 2021, the six major state-owned banks realized a year-on-year increase of 11.85% in the net profit (Group caliber, the same below) attributable to the shareholders of the parent company. In addition, by the end of last year, the non-performing loan ratios of the six banks had decreased by varying degrees compared with the end of 2020.
six state-owned banks earn more than one trillion yuan
non performing loan ratio decreased
In 2021, the operating revenue of the six major state-owned banks achieved positive growth. Specifically, Industrial And Commercial Bank Of China Limited(601398) achieved an operating revenue of 860.9 billion yuan, a year-on-year increase of 7.6%, leading the other five banks in terms of revenue Postal Savings Bank Of China Co.Ltd(601658) operating revenue increased by more than 10% year-on-year to 11.38%, leading the growth rate.
At the same time, the six major state-owned banks enjoyed a collective net profit of 1.27 trillion yuan last year, an increase of 11.85% year-on-year, and the growth rate of the six banks was more than 10%.
Industrial And Commercial Bank Of China Limited(601398) continues to be the “most profitable” bank. In 2021, the bank realized a net profit attributable to the parent company of 348338 billion yuan, a year-on-year increase of 10.27% Postal Savings Bank Of China Co.Ltd(601658) although the net profit attributable to the parent was the least, only 76.170 billion yuan, the growth rate of the bank’s net profit attributable to the parent was as high as 18.65%, ranking first in the growth rate list.
In recent years, the intermediary business of commercial banks has increased significantly and has become an important engine to drive performance growth. The reporter of Securities Daily noted that the non interest income of the six major state-owned banks increased significantly year-on-year last year, and the proportion of non interest income increased to varying degrees compared with 2020 China Construction Bank Corporation(601939) 2021: non interest income exceeded 200 billion yuan, reaching 218826 billion yuan, with the largest year-on-year increase of 21.60% Bank Of Communications Co.Ltd(601328) non interest income accounted for the largest proportion, nearly 40%.
Affected by the strength of loans and advances, the asset scale of the six major state-owned banks rose to another level last year, with different growth rates compared with the end of 2020.
In addition, the data shows that the asset scale of Industrial And Commercial Bank Of China Limited(601398) , China Construction Bank Corporation(601939) and Agricultural Bank Of China Limited(601288) ranks among the top three. By the end of 2021, the total assets of Industrial And Commercial Bank Of China Limited(601398) , China Construction Bank Corporation(601939) have exceeded 30 trillion yuan, 35.17 trillion yuan and 30.25 trillion yuan respectively Agricultural Bank Of China Limited(601288) followed, with total assets exceeding 29 trillion yuan, an increase of 6.9% over the end of 2020.
At the same time, the six major state-owned banks actively took various measures to effectively prevent and resolve risks, and the asset quality also showed a positive situation. The non-performing loan ratios of the six banks decreased compared with the end of 2020, and were lower than the average of 1.73% of commercial banks in the same period disclosed by the CBRC.
By the end of last year, Postal Savings Bank Of China Co.Ltd(601658) had a non-performing loan ratio of only 0.82%, down 0.06 percentage points from the end of 2020, and the asset quality continued to maintain the leading position in the industry Bank Of Communications Co.Ltd(601328) ‘s NPL balance was 96.796 billion yuan, with a NPL ratio of 1.48%, a decrease of 902 million yuan and 0.19 percentage points respectively compared with the end of 2020, realizing a “double drop” in NPL balance and NPL ratio.
Due to the improvement of asset quality, the provision strategies of the six major state-owned banks in 2021 also converge as a whole. Among the six banks, the asset impairment loss (credit impairment loss) of four banks decreased to varying degrees compared with that in 2020 Bank Of China Limited(601988) accrued asset impairment loss of 104220 billion yuan, with the largest year-on-year decrease of 12.43%. In addition, China Construction Bank Corporation(601939) impairment loss also decreased by more than 10%.
At the same time, Agricultural Bank Of China Limited(601288) , Bank Of Communications Co.Ltd(601328) considering the more complex and severe external environment and adhering to prudent planning, they all increased the provision last year Bank Of Communications Co.Ltd(601328) asset impairment loss was 68.691 billion yuan, a year-on-year increase of 9.83% Agricultural Bank Of China Limited(601288) credit impairment loss was 165886 billion yuan, a slight increase of nearly 1% year-on-year.
yuan Xiaohui, a researcher of Bank Of China Limited(601988) Research Institute, told the reporter of Securities Daily that it is expected that the profit growth rate of listed banks will maintain a good level, the asset quality will remain stable as a whole, and the risk offset ability will be good. In addition, some listed banks may narrow the interest margin and reduce the net interest income, which is the result of the joint influence of many factors such as the marketization of interest rate and the continuous increase of capital cost.
capital adequacy ratio comprehensively improved
inclusive finance loans increased significantly
In 2021, while the six major state-owned banks drive the endogenous capital accumulation capacity through the growth of net profit, the supplement of exogenous capital is also increasing. In particular, six banks have accelerated the issuance rhythm of perpetual bonds and secondary capital bonds, which is conducive to maintaining a good level of their capital adequacy ratio.
The annual report shows that the capital adequacy ratios of the six banks have increased compared with the end of 2020. By the end of last year, Industrial And Commercial Bank Of China Limited(601398) capital adequacy ratio had increased to 18.02%, a year-on-year increase of 1.14 percentage points.
In 2021, the six major state-owned banks will fully support and serve the real economy, actively integrate into the overall situation of national development, and increase support for key areas such as inclusive finance, advanced manufacturing and green finance.
By the end of last year, the inclusive financial loans of the six major state-owned banks had increased significantly, and the proportion of the loan balance of inclusive small and micro enterprises had continued to rise.
Specifically, by the end of last year, the balance of Agricultural Bank Of China Limited(601288) Pratt & Whitney small and micro enterprise loans had increased to 1.32 trillion yuan, an increase of 38.8% over the end of 2020 Bank Of China Limited(601988) inclusive small and micro enterprise loans increased to a record high, and the balance of inclusive small and micro enterprise loans reached 881.5 billion yuan, with a growth rate of 53.15% over the end of 2020, higher than the growth rate of all loans of the bank Postal Savings Bank Of China Co.Ltd(601658) inclusive small and micro enterprises had a loan balance of 960602 billion yuan, accounting for more than 14% of the bank’s loans, ranking firmly in the forefront of large state-owned banks.
