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Editor's note:
The Central Financial Work Conference pointed out that it is necessary to do a good job in science and technology finance, green finance, inclusive finance, pension finance, and digital finance. On May 9, 2024, the State Administration of Financial Supervision issued the Guiding Opinions on the "Five Major Articles" of the Banking and Insurance Industries.
The "Guiding Opinions" proposes to focus on pain points and difficulties to strengthen inclusive financial services, and banking and insurance institutions continue to increase financial support for private, small and micro enterprises and individual industrial and commercial households. This article is about financial inclusion.
With the completion of the disclosure of the 2023 annual report, researchers from Xinhua Finance and Bread Finance have sorted out the relevant data of inclusive small and micro loans in inclusive finance of listed banks.
According to the financial report data, listed banks will generally increase their investment in inclusive small and micro loans in 2023, and the balance of inclusive small and micro loans will increase among the 39 listed banks that have disclosed relevant data.
State-owned banks are the main force in the provision of inclusive credit to small and micro enterprises, with high loan balances and generally maintaining growth, with a growth rate of more than 20%. Among them, the growth rate of ICBC ranked first among the six major state-owned banks, reaching 43.7%; Most joint-stock banks' loans grew by more than 10%, of which China Everbright Bank ranked first, with a growth rate of 24.18%; Some city commercial banks have grown rapidly in the provision of inclusive small and micro credit, with Bank of Shanghai ranking first among listed city commercial banks with an increase of 36.4%; The proportion of inclusive small and micro enterprise loans of rural commercial banks is generally high, among which the growth rate and proportion of Ruifeng Bank's loan balance are among the highest.
In terms of the number of loan customers, state-owned banks and joint-stock banks have a relatively high number of loan customers, of which the Agricultural Bank of China and China Construction Bank have more than 3 million loan customers, and Ping An and China Merchants Bank have more than 1 million loan customers. In terms of interest rates, in 2023, the interest rates on new inclusive small and micro loans issued by state-owned banks are low, and the loan interest rates of the 15 listed banks that have disclosed interest rate changes have decreased, among which Ping An Bank has decreased significantly.
The growth rate of inclusive small and micro credit is among the top in the same category for ICBC, Everbright and Bank of Shanghai
According to the financial report data, as of the end of 2023, 39 listed banks have disclosed data related to inclusive small and micro loans, and all of them have increased compared with the end of the previous year.
In terms of scale, as of the end of 2023, state-owned banks are still the main force in the provision of inclusive small and micro loans, among which the balance of inclusive small and micro loans of CCB, Agricultural Bank of China and ICBC all exceeded 2 trillion yuan. The balance of inclusive small and micro loans of joint-stock banks is generally concentrated between 300 billion yuan and 810 billion yuan. Among the city commercial banks, Bank of Beijing, Bank of Ningbo, Bank of Jiangsu and Bank of Shanghai have relatively high balances of inclusive small and micro loans, with 231.516 billion yuan, 185.8 billion yuan, 173.5 billion yuan and 146.254 billion yuan respectively. Among the rural commercial banks, 7 banks have disclosed relevant data, among which Chongqing Rural Commercial Bank and Shanghai Rural Commercial Bank have a relatively high balance of inclusive small and micro loans, both exceeding 70 billion yuan.
Figure 1: Balance, growth rate and proportion of total loans to inclusive small and micro enterprises of listed banks in 2023
In terms of growth rate, the growth rate of ICBC, Bank of China, Agricultural Bank of China, Bank of Shanghai, and Bank of Beijing ranked among the top five, and inclusive small and micro enterprise loans increased by 43.7%, 43.17%, 39%, 36.4%, and 34.5% respectively from the end of the previous year. In addition, there are 14 listed banks with a growth rate of more than 20% in inclusive small and micro enterprise loans.
In terms of the proportion of total loans, the inclusive small and micro enterprise loans of urban and rural commercial banks account for a relatively high proportion of total loans, of which Ruifeng Bank's total loans account for 39.87%, ranking first. It was followed by Bank of Xiamen, Bank of Jiangyin, Bank of Qilu and Bank of Suzhou, accounting for 34.2%, 23.85%, 21.84% and 20.22% of total loans, respectively. Bank of Xi'an's inclusive small and micro enterprise loans account for a relatively low proportion of total loans, at 3.57%, and it is also the only listed bank with a proportion of less than 5%.
The number of customers with loans has increased and the interest rate of newly issued inclusive small and micro loans has decreased
According to the financial report data, as of the end of 2023, the number of inclusive small and micro loan customers of state-owned banks is relatively high, of which the data of loan customers of Agricultural Bank of China and China Construction Bank exceeds 3 million. Among the joint-stock banks, Ping An Bank and China Merchants Bank have a relatively high number of loan customers, both exceeding 1 million.
Figure 2: Number of Inclusive Small and Micro Enterprise Loan Customers of Listed Banks in 2023
Compared with the end of the previous year, Bank of Shanghai's inclusive small and micro enterprise loan customers grew the fastest, reaching 77.75%; Shanghai Rural Commercial Bank, Industrial and Commercial Bank of China, Bank of China and Agricultural Bank of China ranked second to fifth in terms of the growth rate of the number of loan customers, reaching 47.51%, 44.39%, 43.21% and 39.9% respectively.
In terms of the interest rate of new loans, in 2023, the interest rate of new inclusive small and micro enterprise loans issued by state-owned banks is generally low, and generally lower than 3.8%. Among the joint-stock banks, Industrial Bank and China Everbright Bank have lower interest rates of 3.87% and 3.98% respectively on new inclusive small and micro enterprise loans.
Figure 3: Interest rates on new inclusive small and micro enterprise loans issued by listed banks in 2023
According to the data, 15 listed banks disclosed the changes in the interest rate of newly issued inclusive small and micro enterprise loans, and the interest rate of new inclusive small and micro enterprise loans issued by Ping An Bank in 2023 decreased significantly compared with the previous year, with a decrease of 1.23 percentage points. It was followed by China Merchants Bank and Zheshang Bank, which decreased by 0.67 and 0.63 percentage points respectively from the previous year.
Listed banks enhance the coverage of inclusive finance and alleviate financing problems
In the annual report, banks have also incorporated the "five major articles" into their development plans, and continued to strengthen financial services for major strategies, key areas and weak links, so as to promote high-quality economic development.
Among the state-owned banks, the Agricultural Bank of China said in its annual report that the bank will take the enhancement of financial services to the real economy as the starting point to comprehensively improve the supply, coverage and sustainability of inclusive financial services. Focusing on the differentiated needs of small and micro enterprises, individual industrial and commercial households, and rural households, we upgraded the "Micro Loan", "Quick Loan" and "Chain Quick Loan" general products and branch-wide special products to enhance customer experience. ICBC said in its annual report that the bank is guided by customer needs, continues to improve the coverage, availability and satisfaction of inclusive financial services, and helps alleviate the financing problems of small and micro customers. The bank established the Digital Inclusion Center to improve the digital inclusion development model. We have created a new generation of quick loans that are open to applications and flexible withdrawals, upgraded digital credit products, and significantly improved the capacity and coverage of inclusive financial services. In terms of risk control, establish and improve the "1 (customer) + N (product)" multi-dimensional credit risk prevention and control system, and create a whole-process risk management system characterized by "data-driven, intelligent early warning, dynamic management, and continuous operation".
Among the joint-stock banks, Ping An Bank has incorporated inclusive finance into the bank's development strategy, actively innovated product and service models, strengthened technological empowerment, improved the breadth and depth of inclusive financial services, and implemented "true inclusiveness, true small and micro". In addition, the Bank continued to optimize the process of inclusive financial products and services, provided one-stop comprehensive financial services and credit and mortgage loan products covering online and offline, provided better financing support and financial services for the production and operation of small and micro enterprises, and launched a number of measures to help enterprises bail out, so as to make the measures of fee reduction and interest concession more efficient and accurate.
Among the city commercial banks, Bank of Shanghai continued to upgrade the inclusive financial product system of "small and micro quick loans" based on customer experience, built an inclusive financial ecological cooperation circle, and promoted the transformation and development of policy-based guarantee business. Bank of Beijing said in its annual report that in 2023, the bank will strengthen the exclusive, digital and refined development of inclusive business, build a digital inclusive financial system, and the inclusive financial business as a whole will show a good situation of "increasing volume, expanding coverage and improving efficiency".
Among the rural commercial banks, the Shanghai Rural Commercial Bank stated in its annual report that the bank adheres to the practice of financial return to the origin of service entities, continues to improve the availability of financing for small and micro enterprises, individual industrial and commercial households, farmers and new agricultural business entities, and has a richer inclusive financial credit product system, and continuously improves the long-term mechanism of daring to lend, willing to lend, able to lend, and will lend.
[Read Financial Report] is a column jointly created by Xinhua Finance and Bread Finance with the interpretation of financial reports of listed companies as the main content. Xinhua Finance is a national financial information platform built by Xinhua News Agency, which comprehensively covers the global stock market, foreign exchange market and bond market, and provides authoritative, professional and comprehensive financial information services.
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