On March 30, the 2021 performance report of the six major state-owned banks was disclosed. By the end of 2021, the non-performing loan ratio of the six major banks had decreased compared with the end of the previous year, the provision coverage had increased significantly, and the trend of asset quality was good. In terms of credit extension, senior executives of several banks revealed at the performance conference that in 2021, they will increase their support for the real economy, accurately direct funds to key areas and weak links of the real economy, and increase the scale of credit extension in manufacturing, science and innovation, Pratt & Whitney, green and other fields.
revenue increased steadily
In 2021, the operating revenue of Industrial And Commercial Bank Of China Limited(601398) and China Construction Bank Corporation(601939) exceeded RMB 800 billion Industrial And Commercial Bank Of China Limited(601398) operating income reached 942.8 billion yuan, an increase of 6.8% over the previous year, and net profit reached 350216 billion yuan, an increase of 10.20% over the previous year The operating profit was 1.09 billion yuan, an increase of 4.9 billion yuan over the previous year, a year-on-year increase of 4.09 billion yuan.
Bank Of China Limited(601988) revenue exceeded 600 billion yuan Bank Of China Limited(601988) president Liu Jin said that last year Bank Of China Limited(601988) implemented the strategy of “both volume and price”, controlled the growth of debt cost and effectively curbed the decline of net interest margin. Since the second half of last year, the net interest margin has remained stable, supporting the steady growth of revenue.
The net profits of Bank Of China Limited(601988) and Agricultural Bank Of China Limited(601288) exceeded 200 billion yuan, while the net profits of Postal Savings Bank Of China Co.Ltd(601658) and Bank Of Communications Co.Ltd(601328) were less than 100 billion yuan. From the perspective of net profit growth, the net profit growth of the six major state-owned banks has reached more than 10%. Among them, Postal Savings Bank Of China Co.Ltd(601658) is the fastest, achieving a net profit of 76.532 billion yuan in 2021, an increase of 18.99% over the previous year.
asset quality improving
The annual report shows that by the end of 2021, the non-performing loan ratio of the six major banks had decreased compared with the end of the previous year, and the non-performing loan ratio of Industrial And Commercial Bank Of China Limited(601398) , China Construction Bank Corporation(601939) , Agricultural Bank Of China Limited(601288) , Bank Of Communications Co.Ltd(601328) had decreased by more than 0.1 percentage points. Among them, Bank Of Communications Co.Ltd(601328) has the largest decline, but its non-performing loan ratio of 1.48% is still the highest among the six major banks. The non-performing loan ratio of Postal Savings Bank Of China Co.Ltd(601658) is far lower than that of the other five major banks, only 0.82%.
As for the balance of non-performing loans, by the end of 2021, Industrial And Commercial Bank Of China Limited(601398) , Bank Of Communications Co.Ltd(601328) had decreased by 549 million yuan and 902 million yuan respectively, and the other four major banks had increased, of which Agricultural Bank Of China Limited(601288) increased the most, with an increase of 8.669 billion yuan compared with the end of 2020 The balance of Industrial And Commercial Bank Of China Limited(601398) , China Construction Bank Corporation(601939) , Agricultural Bank Of China Limited(601288) , Bank Of China Limited(601988) non-performing loans reached more than 200 billion yuan, and the balance of Bank Of Communications Co.Ltd(601328) , Postal Savings Bank Of China Co.Ltd(601658) non-performing loans was less than 100 billion yuan.
The provision coverage rate has increased compared with the previous year, of which Agricultural Bank Of China Limited(601288) , China Construction Bank Corporation(601939) , Industrial And Commercial Bank Of China Limited(601398) , Postal Savings Bank Of China Co.Ltd(601658) have reached more than 200%.
support the development of real economy
In 2021, the six major banks increased their support for the real economy, and the funds accurately reached the key areas and weak links of the real economy, increasing the scale of credit in manufacturing, science and innovation, inclusive benefit, green and other fields.
the Industrial And Commercial Bank Of China Limited(601398) annual report disclosed that by the end of 2021, the balance of the bank’s loans to manufacturing industry had exceeded 2 trillion yuan, an increase of 319.7 billion yuan over the end of 2020. The balance of loans in high-tech fields supported by the state exceeded 1 trillion yuan. Green loans increased by 34.4%, and the total exceeded 2.4 trillion yuan. Pratt & Whitney loans increased by more than 50% throughout the year.
China Construction Bank Corporation(601939) 2021 saw net loans and advances of 18.17 trillion yuan, an increase of 1.94 trillion yuan or 11.95% over 2020. Medium and long-term loans for infrastructure, manufacturing, private enterprises and green loans increased by 16.91%, 29.24%, 15.21% and 35.61% respectively.
By the end of 2021, the loan balance of Agricultural Bank Of China Limited(601288) inclusive small and micro enterprises was 1.3 trillion yuan, an increase of 38.8% over the end of 2020, with an increase of 369.3 billion yuan, with a growth rate of more than 30% for three consecutive years.
In terms of real estate, the six major banks all said that they would adhere to the positioning of “housing without speculation” and give priority to supporting “just in need” groups Agricultural Bank Of China Limited(601288) vice president Cui Yong told the China Securities Journal: “our two regulatory indicators, the proportion of real estate loan balance and the proportion of individual housing loan balance, are lower than the regulatory upper limit. It is a bank with both indicators of real estate loan concentration in the same industry.”
