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Competitive Strengths

In 2022, the Bank presented well in major business indicators and market performance. The growth was accelerated. The Bank’s year-end total assets reached RMB33.9 trillion; the total loans and advances to customers reached RMB19.8 trillion, representing an increase of RMB2.59 trillion or 15.1%, which hit a record high; the all-system deposits from customers reached RMB28.2 trillion, representing an increase of RMB4.2 trillion or 17.7%; the increments in both corporate deposits and retail deposits hit a record high. The quality was prudently improved. The non-performing loan ratio was 1.37%, falling for two consecutive years; the capital adequacy ratio was 17.20%, representing an increase of 7BPs as compared to the end of the previous year. The efficiency was more resilient. We achieved a net profit of RMB258.7 billion, representing an increase of 6.9% as compared to the previous year. The growth in our net profit, operating income, net fee and commission income maintained stable continuously. The market image was enhanced. We stayed level A in the MPA conducted by the PBOC; our MSCI ESG rating was upgraded to A; we were honored with the title “Bank of the Year in China” issued by The Banker. 

We aimed at the build-up of China’s strength in agriculture by playing a leading role in serving the rural revitalization. We stayed committed to serving the rural revitalization and promoting the common prosperity of residents in the rural area as our top priority. We improved the service system and funded more as a good “vanguard” in financial services. We saw a record high in credit loans. The balance of loans in County Areas amounted to RMB7.3 trillion, representing an increase of RMB1.11 trillion, with the increment reaching a record high since our conversion into a joint-stock bank and its growth rate outpaced that of the Bank. The balance of agriculture-related loans amounted to RMB5.53 trillion, representing an increase of RMB793.3 billion, with a further rising proportion in our total loans and advances to customers. We served both to consolidate and build on the achievements in poverty alleviation and to promote the revitalization of rural areas. The growth rate of loans to 160 key national counties receiving rural revitalization assistance was over 18%. The growth rate of loans in the key fields of food, rural industries, and rural construction reached 22.5%, 22.4% and 21.6%, respectively. We led the industry in service innovation. We built up a digital rural service system and launched the smart loans to animal husbandry, Huinong E-loan, Fumin Loan, and other recognized agriculture-related scenarios and products, by which, we steadily enhanced the breadth and depth of the financial services. The balance of Huinong E-loan (an online loan to rural households) amounted to RMB747.7 billion, representing an increase of 37.3%. In addition, we innovatively launched the product “Fumin Loan” and granted loans of RMB11.6 billion in 2022, which empowered rural households in areas lifted out of poverty and old revolutionary base areas to create more channels for increasing their income. We have enhanced our brand influence. We have been rated the highest grade “Excellent” for two consecutive years in the assessment of nationwide financial institutions for serving rural revitalization. A large number of advanced representatives such as Mr. Fu Xiaokang stood out in serving the rural revitalization. 

We strengthened high-quality financial supply and took the lead in serving the overall economic stability. We followed the requirements of national macro control, transmitted the guidance of monetary policies and played our role as pillar to provide sound financial services to the stabilization of the overall economy. High service efficiency. We implemented the decisions and deployment of the central government in a timely manner and introduced “four speedy”, an efficient working mechanism, to achieve the speedy review, approval and grant of loans. We achieved the first financing transaction by policy-backed and development-oriented financial instruments among the commercial banks across China. The loans to the projects in the medium- and long-term list for the manufacturing industry and the loans for acquiring, updating and renovating equipment, both led the banking industry, giving full play to credit funds in expanding effective investments. Large volume of financing. Apart from the consecutive record-high increment of loans and advances to customers, the balance of bond investment amounted to RMB9.32 trillion, representing an increase of RMB1.3 trillion, which was also a record high.  

Improved credit structure. The loans were mostly granted in sectors as encouraged and guided by the national policies. The loans in key industries such as manufacturing, technological innovation, green finance, and inclusive small and micro businesses sustained rapid growth, as we actively served the construction of a modern industrial system and green and low-carbon transformation. The loans in key areas encouraged by the structural monetary policy of the PBOC were well extended, as the scale of our special re-loans took the lead among the commercial banks. 

We strengthened data empowerment and accelerated the reform and innovation of operation models of the Bank. We adhered to data as the core of digital transformation, and promoted building the engineering framework and its application in major areas, which made data an increasingly important driver for our transformation, innovation and development. We constantly consolidated the data basis, fully upgraded the data middle platform, facilitated in-depth data governance, and generated a larger volume of more accessible data to drive innovative development. We accelerated data application and enhanced the dual driving force of “data + algorithm”. We launched “Smart Customer Reception”, “Smart Customer Holding”, “Smart Customer Linking” and other innovative data application products, which significantly enhanced our capacity for precision services and risk control. We deepened the integration of business and technology and accelerated the formation of the data-driven customer service model. Risk management philosophy marked by data-based decisions was deeply rooted, and the integration and development of business, technology and data has continuously cultivated new productivity. Our online services constantly improved. The number of our monthly active users (MAU) of retail mobile banking amounted to 172 million, maintaining the leading position among peers. The balance of “ABC E-loan” exceeded RMB3 trillion, representing an increase of 42.3% as compared to the end of the previous year. The convenient and highly-efficient online financial services improved satisfaction of our customers and users. 

We followed the philosophy of financial services for the people and made progress in providing financial services for people’s livelihood. Taking into full consideration of the increasing financial demand of people, we improved the business processes and production factor mix to make our financial services more inclusive and accessible. We stepped up the support for consumption relating to people’s livelihood. Focusing on expanding domestic demand and promoting consumption, we constantly extended our credit supply to housing, consumption and other areas. The balance of our retail loans reached RMB7.55 trillion, representing an increase of RMB428.1 billion, which continuously ranked first among the peers. Our customer experiences were continuously improved, as we optimized the layout of outlets and labor combination, promoted the reform of the credit approval system and streamlined the counter process. The account opening efficiency of small and micro enterprises and the troops were lifted by 41% and 36%, respectively. Our financial services were warmer. Focusing on the concerns of customers and the wider public, we optimized our branch outlets and systems so that they would be elderly-friendly and launched a total of 21 thousand outlets themed “Caring and Considerate Services”, to offer considerate services to seniors, special groups and outdoor workers. Consumer protection made remarkable achievements by setting up dedicated organizations, improving system of procedures, and enhancing the solution and rectification of complaints. The supervision rating for our consumer rights protection rose to A. 

We coordinated development and security and made an all-out effort to maintain financial security and stability. The prevention and mitigation of the financial risk featured prominently on our priority list. We strived to go ahead of the market curve and ensure the security of various financial assets by preventing and controlling risks in a holistic, visionary and precise manner. We strengthened the comprehensive risk management system, which covered the entire Group, domestic and overseas businesses, and on- and off-balance sheet activities. We promptly conducted risk inspections, enhanced the risk early-warning by inspection and penetrating monitoring, to continuously improve our capacity for the prior evaluation, response and disposal of major risks. We prudently mitigated risks with targeted efforts by introducing “one policy for one account” to mitigate risks of real estate developers, group customers with large loan amount and customers in other major credit risk areas. Meanwhile, we strengthened the disposal of nonperforming loans through multiple channels and ensured the overall stability of asset quality while achieving fastgrowing credit. We adopted refined measures to control market risks, strengthened the penetrating management of underlying assets relating to financial market businesses, and reasonably controlled risk exposures, so that our market risks were overall under control. We built up a disaster recovery system for our business continuity by a more solid IT basis, so that our capacity for making IT infrastructure independent and controllable was enhanced, and the technology base for our stable and long-term development become more solid and reliable. 

 
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