Provincial lender Bank of Jiangsu saw surging growth in net profits in 2021, as the regional economy continued to recover from the initial effects of the COVID-19 pandemic.
Bank of Jiangsu saw 63.771 billion yuan in operating revenues in 2021, for year-on-year (YoY) growth of 22.58%, according to its annual report released on 12 April.
Net profits attributable to shareholders were 19.694 billion yuan, for YoY growth of 30.72%, while net earnings from processing fees and commissions were 7.49 billion yuan, for a YoY rise of nearly 40%.
As of the end of 2021 Bank of Jiangsu’s total assets were 2.62 trillion yuan, for an increase of 12.02% compared to the start of the year. The lender’s deposit balance was 1.45 trillion yuan, of ran increase of 11.10%, while its loan balance was 1.4 trillion yuan, for a rise of 16.52%.
Bank of Jiangsu’s outstanding wealth management products totalled 414.9 billion yuan at the end of 2021, for a YoY rise of 16%.
As of the end of 2021 Bank of Jiangsu’s non-performing loan ratio was 1.08%, for a decline of 0.24 percentage points compared to the start of the year, and the sixth consecutive year of decline since the lender first publicly listed.
The bank’s provisions coverage ratio was 307.72%, for an increase of 51.32 percentage points that year.