A few days ago, the appraisal results of competitive financial institutions jointly launched by China Business Journal and the Institute of Industrial Economics of the Chinese Academy of Social Sciences were announced ceremoniously in Beijing. Industrial Bank (IB) won four a wards, including the “2011 Competitive Financial Institution for Outstanding Performance of Social Responsibility”, “2011 Competitive Bank for Outstanding Risk Control, “2011 Competitive Bank for Outstanding Supply Chain Financial Services”, and the “2011 Competitive Bank for Outstanding Financial Services to SMEs”, with its noticeable performance in terms of CSR practice, risk control, supply chain financial services and financial services for SMEs.
Jointly launched by the China Business Journal and the Institute of Industrial Economics of the Chinese Academy of Social Sciences, the appraisal of “2011 Competitive Financial Institutions” is an activity aim ed at the three large industries: banking, insurance and funds operating in China. Using the competitiveness analysis model of the Chinese Academy of Social Sciences, the appraisal starts from the net assets, net profits, net asset profit ratio, and total asset contribution factor indices to investigate the competitive edges of enterprises in the Chinese banking, insurance and fund industries. The authoritative appraisal results provide more reliable data for investors and enterprises.
As the first Chinese financial institution to adopt the Equator Principles, IB has kept on perfecting its corporate governance, actively exploring innovation in the business model for performing its social responsibilities. Through “making reasonable profits while bringing benefits to stakeholders”, it is committed to realizing environmental, social and economic sustainability of banking. Facing complicated economic situations both at home and abroad in 2011, the Bank has been pushing business innovation in the aspects of green finance, supply chain finance, “IB Sesame Blooming” (Improvement) SME IPO Program, cash management, and investment banking, in addition, IB has witnessed fast development in all business areas and assets have been maintained in good condition. By the end of the third quarter of 2011, the total assets of the Bank had reached RMB 2.09 trillion, up 13.11% on the beginning of this year, and realized net profits had reached RMB 18.788 billion, up 38.20% on the same period . The balance of non-performing loans across the Bank was RMB 3.299 billion, down RMB 318 million on the beginning of th e year; the non-performing loan rate was 0.34%, down 0.08%, with provision coverage up to 387.81%.