Source: Global Network [Global Network Reporter Tan Yawen] As soon as the annual report was released, the stock price rose. As of the close of March 26, CITIC Bank closed at 5.39 yuan per share, with a stock price rising 1.89%. On the 25th, CITIC Bank released its annual report.

Source: Global Network

[Global Network Reporter Tan Yawen] As soon as the annual report was released, the stock price rose. As of the close of March 26, CITIC Bank closed at 5.39 yuan per share, with a stock price rising 1.89%.

CITIC Bank executive director and president Fang Heying said in his annual report that in recent years, he has continued to promote the transformation of business structure from "one body and two wings" to "three tycoons", and regards the retail and financial market sectors as important focus points for light development. The proportion of net operating income of the "three major sectors" of the public, retail and financial markets has been adjusted from 55.6%, 34.7% and 7.1% three years ago to 45.9%, 40.9% and 11.7%.

2020 is the final year of CITIC Bank's "New Three-Year Plan". How is the business structure transformation performance?

retail business scale increased private bank customer assets accounted for 80%

According to the annual report, in 2020, CITIC Bank retail banking business achieved net operating income of 77.434 billion yuan, an increase of 12.52% over the previous year, accounting for 41.79% of net operating income; retail bank non-interest net income was 21.148 billion yuan, an increase of 10.79% over the previous year, accounting for 51.49% of net non-interest net income, an increase of 1.54 percentage points over the previous year.

Specifically, in 2020, the total number of individual customers of CITIC Bank was 111 million, an increase of 8.49% from the end of the previous year. On the asset side, the balance of personal loans (excluding credit cards) was 1.36 trillion yuan, an increase of 187.772 billion yuan from the end of last year, with a growth rate of 15.94%. On the liability side, the personal deposit balance was 822.016 billion yuan, an increase of 72.994 billion yuan from the end of last year, an increase of 9.75%. In the deposit business of

, private banking customers still account for the majority. In its annual report, CITIC Bank stated that the number of private banking customers was 51,100, an increase of 22.06% from the end of the previous year, and its assets under management were 680.3 billion yuan.

loan non-performing balance increases by 5.7 billion Credit card non-performing rate increases by 0.64%

Personal customer business scale has increased significantly, what changes have been made in asset quality?

According to the annual report, the non-performing balance and non-performing rate of personal loans of CITIC Bank increased - the non-performing balance of personal loans (excluding credit cards) was 9.217 billion yuan, an increase of 3.014 billion yuan from the end of the previous year, and the non-performing rate was 0.67%, an increase of 0.14 percentage points from the end of the previous year.

In addition, the balance of non-performing loans for credit cards was 11.561 billion yuan, with a non-performing loan rate of 2.38%, an increase of 0.64 percentage points from the end of the previous year.

Overall, the non-performing loan ratio of CITIC Group has decreased, but the balance of non-performing loans has increased. As of December 31, 2020, the balance of non-performing loans of CITIC Bank was 73.452 billion yuan, an increase of 7.335 billion yuan from the end of the previous year, an increase of 11.09%; the non-performing loan ratio was 1.64%, a decrease of 0.01 percentage points from the end of the previous year.

According to the annual report, the total amount of loans and advances of CITIC Group increased by 11.89% year-on-year. In this way, it keeps its non-performing loan ratio continuing to decline.

Announces the new development plan It is expected that the asset growth rate will be 9% in 2021

It is worth noting that in the annual report of CITIC Bank, the development plan for 2021-2023 was announced. It is proposed to "one reform, two transformations, and three breakthroughs", build a management mechanism that effectively stimulates the team from the aspects of operating mechanisms, performance appraisals, etc., and transform to digital transformation and capital light.

CITIC Bank pointed out in its annual report that the annual asset growth rate in 2021 is expected to be around 9%.

However, in 2021, the banking industry is still under pressure on some profit indicators. According to the annual report, in 2020, the net interest margin of CITIC Group was 2.26%, down 19 BPs from the previous year.

The company explained that there are three main reasons for the decline in net interest margin: First, since 2020, the real economy has been concessionally profited, and loan interest rates have declined in trend. Second, due to the impact of the epidemic, the issuance of credit card loans with relatively high yields has slowed down, and the proportion of high-yield assets has decreased. Third, we have actively adjusted the allocation strategies of major asset classes and increased the proportion of interbank and investment businesses.

In its annual report, CITIC Bank predicts that the bank's net interest margin in 2021 will still face downward pressure.