(reporter Fan Zimeng) Industrial Bank today released 2020 annual report shows that the bank’s annual net profit growth back to the positive, year-on-year growth of 1.15%, up to 66.626 billion yuan, and the scale, quality, efficiency improved simultaneously, the best level in nearly five years.
From the data, in 2020, the total assets of Industrial Bank, total liabilities both double-digit growth, total assets of 7.89 trillion yuan, a year-on-year growth of 10.47%, total liabilities of 7.27 trillion yuan, a year-on-year growth of 10.21%. Revenue and profit before provision also maintained double-digit growth. Operating income exceeded 200 billion yuan for the first time, reaching 203.37 billion yuan, up 12.04% year on year. The profit before provision exceeded 150 billion yuan for the first time, reaching 151.974 billion yuan, up 14.82% year on year
In terms of asset quality, the non-performing balance and the non-performing rate dropped for the first time in five years, down by 3.366 billion yuan or 0.29 percentage points respectively compared with the end of last year, and the non-performing rate reached the optimal level of 1.25% in recent five years. The ability to offset risks was further improved, and the provision coverage rate was 218.83%, 19.70 percentage points higher than that at the end of the previous year and a five-year high.
The strategic restructuring of the balance sheet has been basically completed. In 2020, deposits and loans accounted for 55.62 percent and 50.24 percent respectively, both exceeding 50 percent, up 5.76 percentage points and 16.66 percentage points respectively from 2015. From the end of 2017 to the end of 2020, the core tier one capital adequacy ratio of the bank increased from 9.07% to 9.33% without external core tier one capital supplement. During the same period, the loan growth exceeded 1.5 trillion yuan. The endogenous growth of capital and intensive operation have achieved remarkable results.