Jiangsu Bank has always been committed to transforming into a modern commercial bank led by technology, planning a "smart" strategy, and later placing it at the forefront of the "four modernizations" (smart, distinctive, international, and comprehensive) strategy. After more than a decade of iteration, the qualitative transformation of the bank's model driven by strategy and efficiency improvement is moving from behind the scenes to on stage. It is reported that in 2023, Jiangsu Bank had the best per capita efficiency and cost-income ratio among the 42 A-share listed banks; In the first quarter of this year, the bank consistently ranked first in the industry in terms of per capita revenue and profit. The first quarter report shows that state-owned large banks and joint-stock banks may have slightly lower per capita efficiency due to factors such as a large employee base and slower efficiency growth. Some urban commercial banks and joint-stock banks have more advantages, with Jiangsu Bank performing particularly well. In addition to continuing to hold the first place, the bank is also a listed bank with an average income of over one million per family. Based on regular report analysis, Jiangsu Bank's ability to maintain high operational efficiency may be attributed to the combination of two factors. On the one hand, stable performance growth is the fundamental foundation. In the face of constantly changing external environment, the bank dynamically optimizes the asset liability structure of major categories, fully leverages the advantages of regional resource endowments and its own unique expertise, and continuously increases its service efforts in high-end manufacturing, green and low-carbon, science and technology innovation small and micro, and inclusive livelihood fields. Retail AUM has remained at the forefront of urban commercial banks, with flexible investment business strategies and increasing contribution. The highly distinctive "AUM+FPA+FICC" model is becoming increasingly mature, and it is continuously achieving higher quality development in deep integration and resonance with the regional economy. In the first quarter of this year, Jiangsu Bank achieved double-digit growth in revenue and net profit, while maintaining stable asset quality. On the other hand, the "Four Modernizations" strategy led by intelligence is its core driving force. The bank incorporated "intelligence" into its strategy in 2013 and elevated it to the top of the "four modernizations" strategy in 2018. After the new chairman took office, the bank further increased its efforts to implement and iterate financial technology, while also focusing on promoting "management gains and business sinking". It deepened its sensitive collaborative research and development, service mechanisms, and continuously improved the empowerment and efficiency of technology in operations, resulting in a more comprehensive release of frontline productivity. As of the end of 2023, the total number of employees in Jiangsu Bank was about 19000. Among banks of similar size, the bank's personnel allocation is relatively streamlined and efficient, with a cost to income ratio ranking among the top in the industry. Industry insiders have pointed out that as a traditional and heavy asset industry, banks may experience short-term changes or differences in report data due to high efficiency in an increasingly competitive environment. However, in the long run, it may be a qualitative iteration from the old model to the new model, which will have a positive promoting effect on improving the quality and efficiency of service entities, increasing profit and tax contributions, and enhancing investor returns. The long-term investment value may be relatively better. Data shows that since the beginning of this year, Bank of Jiangsu has seen its highest increase of over 20%, and its highest increase since 2021 has exceeded 70%, significantly outperforming the trend. As of the close on July 10th, the stock price of Jiangsu Bank closed at 7.70 yuan per share, with a PB of only 0.67 times. Compared to its excellent performance and stable growth, the investment cost-effectiveness is highlighted. (Lai Xin She)
Edit：Lubaikang Responsible editor：Chenze
Source：XinhuaNet
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