Xinhuanet manuscript source: Economic Information Daily

Before the national financial work conference at the beginning of this year, the four major banks confidently announced their operating results in 2002. In 2002, state-owned banks not only greatly improved their asset quality, but also significantly improved their operating performance. What deserves the praise of the industry is that the income composition of banks has improved significantly. Eating spread is not the only source of income for banks, and charging service is gradually becoming a new profit growth point for banks.

The profit before provision for the whole year was 44.337 billion yuan, an increase of 654.38 billion yuan or 30.58% over the previous year. Among them, the book profit was 6210.40 billion yuan, up 5.63% year-on-year; Withdraw the provision and absorb the burden of 386,543.8+0.23 billion yuan, 654.38+0.0006 billion yuan more than the previous year. For the substantial improvement of operating efficiency, ICBC believes that it has benefited from the continuous improvement of the quality of bank assets. Last year, the balance of five types of non-performing loans at home and abroad of ICBC decreased by 37.7865438 billion yuan, accounting for 25.52%, down 4.26 percentage points from the beginning of the year.

Agricultural Bank of China, with the heaviest historical burden, has also achieved a good performance of quadrupling its actual benefits. Last year, ABC's profit before provision was 1 126 1 billion yuan, an increase of 9225438+billion yuan year-on-year; The book profit was 289 1 billion yuan, an increase of10.738 billion yuan. Driven by business factors such as mechanism reform, deposit increase, loan increase and settlement activities, the bank's financial indicators have greatly improved its operating efficiency, not only exceeding the book profit plan in an all-round way, but also more than quadrupling the actual profit over the previous year.

China Bank, which had the best operating efficiency in previous years (profit figures have not yet been announced), saw the fastest improvement in asset quality. In 2002, the stock of non-performing assets in domestic banks of BOC declined rapidly, accounting for 59.552 billion yuan. Among them, 34.652 billion yuan in cash, 6.6 billion yuan in kind, 4.7 billion yuan in debt restructuring, 654.38+03.6 billion yuan in bad debts written off, and 4.659 billion yuan in various debt-paying assets disposed of.

What makes the industry shine at the moment is that CCB's operating efficiency index is among the best. Last year, CCB's return on assets and return on capital reached 1. 16% and 27.68% respectively, up by 0.04 and 2.87 percentage points year-on-year. The cost income rate and expense profit rate were 225% and 97%, respectively, up by 1 1.4 and 4.3 percentage points year-on-year.

With a return on capital of 27.68%, the crown of the most efficient bank naturally falls on China Construction Bank. Last year, CCB's domestic and overseas business realized a profit of 34.43 billion yuan, an increase of 4.8 billion yuan over the previous year, or 16.2%, of which 30,654.38 billion yuan was absorbed from historical burdens, an increase of 5.6 billion yuan over the previous year, and a pre-tax profit of 4.33 billion yuan was realized. At the same time, the income has been greatly improved, and the asset quality of CCB has been continuously improved. By the end of last year (1 1), the balance of non-performing loans of CCB decreased by 22.79 billion yuan compared with the beginning of the year, and the non-performing loan ratio was 15.28%, down by 4.07 percentage points compared with the beginning of the year.

In 2002, the effect of the banking industry's entry into WTO began to appear, and all banks were faced with the pressure of customer loss and market share decline. However, the basic competition pattern has not changed, and the impact of foreign banks is not as strong as expected. The four major banks still monopolize about 70% of the market. For Chinese banks, the pressure is more about the change of profit model than the competition for real market share.

For this realistic pressure, major banks can still remain comfortable. The relevant person in charge of ICBC told the reporter that in the past year, the income structure of the bank was further optimized, and the spread was not the only source of income. The income structure of ICBC, which is mainly based on deposit and loan spreads, is gradually changing, and the intermediary business is becoming the three pillar businesses of the bank. Bank cards, bills, electronic banking and other service income businesses grew strongly. Last year, the income from intermediary business reached 5,036,543.8+billion yuan, an increase of 6,543.8+0.93 billion yuan or 27.75% over the previous year, accounting for 65,438+0.35% of the total income of banks, and the income from bond trading and fund trading also accounted for nearly 20% of the total income. The peony card center and bill center operated by the company have excellent performance. Last year, the Bill Center made a profit of 65.438+0.4 billion yuan, with a per capita profit of 65.438+0.58 million yuan.

In the National Inter-bank Funding Center, China Agricultural Bank has become a big trader here. Last year, the transaction volume of Agricultural Bank of China ranked first in the lending market and the repurchase market, of which the lending transaction volume was1914.83 million yuan and the repurchase transaction volume was16,356.46 million yuan. The second to fifth places in the lending market are China Development Bank, China Construction Bank, Industrial and Commercial Bank of China and Guotai Junan Securities Co., Ltd., and the second to fifth places in the repurchase market are Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Bank of Communications.

China Construction Bank has the most say in the topic of income composition optimization. A person from the Treasury Department of CCB told the reporter that last year, the income from intermediary business of CCB was 4.8 billion yuan, up 36% year-on-year, accounting for 0.9 percentage points of the total income, reaching 14%. To the envy of peers, bond investment and capital trading achieved a profit of 654.38+098 billion yuan last year, accounting for 57.5% of the total revenue. The situation that the traditional credit income accounts for too much and the profit model is single has long changed.

With regard to the development of intermediary business in banks, Director Xia of the Online Banking and Intermediary Business Division of the Banking Supervision Department of the People's Bank of China believes that the development of intermediary business in commercial banks is conducive to improving the profitability of banks and improving their asset-liability structure and income structure. He introduced that intermediary business is also called intermediary business abroad, and banks charge fees by providing services. The occurrence of this kind of business does not change the balance sheet of the bank, and there is no credit risk. Vigorously developing intermediary business is the trend of banking development. Last year, the People's Bank of China issued management measures one after another, which clarified the market access form of intermediary business of commercial banks, and the central bank will continue to provide assistance for the development of intermediary business of banks. He also admitted that although the intermediary business of state-owned banks has developed rapidly, there is still a big gap compared with foreign banks. Generally, the intermediary business income of foreign banks accounts for more than 40% of the total income, and some even reach 60% to 70%. The intermediary business income of American commercial banks increased from 22% of 1980 to 39% of 1996. The profit of Citibank's deposit and loan business only accounts for 20% of the total profit, while the intermediary business brings it 80% of the profit.

Regarding banks' strong interest in bond trading, Director Xia believes that banks' participation in treasury bond trading will not affect credit, and the bonds invested by banks will eventually be used for credit and invested in the real economy. However, there are also different views on banks' hot speculation in government bonds. After all, indirect financing is still the mainstay in China, and the issuance of corporate bonds has not yet been opened. If banks invest too much money in the bond market, it will inevitably affect credit. Banks absorb funds concentrated in the bond market, although it ensures profitability, but it will definitely damage the local economy.