according to the annual report disclosed on March 30, Postal Savings Bank Of China Co.Ltd(601658) 3, China post consumer finance, a holding subsidiary of the bank, realized a net profit of 1.229 billion yuan, an increase of 205.7% over 402 million yuan in 2020, becoming a consumer finance company with a net profit of more than 1 billion yuan, second only to CMCC consumer finance, Societe Generale consumer finance and immediate consumer finance. In 2021, China post consumer finance realized a revenue of 5.686 billion yuan, a year-on-year increase of 16.92%; By the end of last year, the total assets of the company had exceeded 40 billion yuan to 44.422 billion yuan, an increase of 30.63% over the end of the previous year.
Postal Savings Bank Of China Co.Ltd(601658) annual report mentioned that “after six years of development, China post consumer finance has established a three-dimensional marketing and customer acquisition system covering Wuxi Online Offline Communication Information Technology Co.Ltd(300959) mainly through self-supporting channels, supplemented by collaborative development channels and third-party cooperation channels. On the one hand, it has expanded the scope of customer services through Internet channels, and on the other hand, it has established provincial marketing centers and offline outlets in 16 provinces and cities, further sinking the consumer finance business”.
According to the above annual report, China post consumer finance has used the advantages of scientific and technological innovation to establish a comprehensive risk management system covering pre loan, loan and post loan, with independent risk control, automatic approval and intelligent customer service. “During the reporting period, based on the continuous improvement of risk control level, the company’s asset scale increased significantly, the loan balance increased by 34% compared with the end of the previous year, the asset quality was good, and the non-performing loan ratio continued to decline”.
