HONG KONG, Aug 26, 2022 - (ACN Newswire via SEAPRWire.com) - Bank of Qingdao Co., Ltd. ("Bank of Qingdao" or the "Bank"), the largest City Commercial Bank in Shandong Province, China, announced its interim results for the six months ended June 30, 2022 (the "Reporting Period").In the first half of 2022, problems such as supply chain disrupted by the epidemic and energy shortages caused by the Russia-Ukraine conflict continued to ferment and the risk of global economic "stagflation" increased. However, the Bank of Qingdao has always centering on the development vision of "Innovative Finance, Brilliant Banking", the Bank is firmly committed to the strategic goal of "being a technology-driven bank that offers new quality financial products with lean management and outstanding features", the sustainable development capacity of the Bank is constantly enhanced, and set a record against the market.The Net Profit Increased Stably Credit Assets Increased SteadilyBank of Qingdao continued optimizing the structure of asset and liability while increasing support to the real economy, and strove to expand its intermediary services. As at the end of the Reporting Period, the Company's operating income amounted to RMB6.211 billion, representing an increase of RMB884 million or 16.60% YoY. In addition, during the reporting period, total customer deposits reached about RMB 330.030 billion, an increase of 5.26%. Among them, personal deposits broke through the 120 billion mark, an increase of 3.77%.In terms of performance indicators, the company's net profit increased rapidly. During the Reporting Period, the accumulated net profit was RMB2.060 billion, representing an increase of 12.40% over the same period of last year. Net profit attributable to shareholders of the parent company amounted to RMB2.018 billion, representing a year-on-year increase of 12.28%.In terms of asset quality, Bank of Qingdao continuously strengthened the quality control of credit assets. While the credit assets grew steadily, the bank strengthening the comprehensive remediation of overdue loans, non-performing loans and other risky loans and strived to minimize the cost of each risk. The credit quality maintaining steady and promising. As at the end of the Reporting Period, the non-performing loans ratio of bank continuously stable and declining, the non-performing loans ratio decreased by 0.01 percentage point as compared with that at the end of last year to 1.33%. Provision coverage ratio was 209.07%, representing an increase of 11.65 percentage points as compared with that at the end of the previous year, further improve the ability of risk resistance.Meanwhile, Bank of Qingdao expanded its credit support for the real economy and increased its risk-weighted assets. In terms of capital replenishment, the Company raised a net capital of RMB4.154 billion through A share and H share rights issue, to supplement core tier-one capital, improve the level of capital adequacy, and further improve its capacities on risk resistance and supporting the development of the real economy. Retail bankingDuring the Reporting Period, Bank of Qingdao saw record new retail customers in a continuously optimized customer base structure, the bank held RMB276.398 billion assets of retail customers, representing an increase of RMB22.490 billion or 8.86% as compared with that at the end of the previous year. Besides, the retail strategy of the bank achieved remarkable results, retail deposits continued to grow while the payroll credit business was booming, the balance of the Bank's retail deposits amounted to RMB128.674 billion, representing an increase of RMB18.244 billion or 16.52% as compared with that at the end of the previous year, accounting for 38.99% of total customer deposits, representing an increase of 3.77 percentage points as compared with that at the end of the previous year.In terms of retail loans, Bank of Qingdao developed inclusive finance and provided loan services for individual industrial commercial households and small and micro enterprises. On the premise of meeting the regulatory requirements, it steadily developed personal housing loans and increased the proportion of Internet loans granted in the province to build its own Internet loan brand. During the Reporting Period, the Bank vigorously developed its self-operated Internet loan "Hairong Yidai" by launching "Hairong Yidai - Convenient Loans" for residents in the province and optimizing such products as "rural revitalization loan" and "easy loans for stores", thereby forming a complete sequence of self-operated Internet loan products. As at the end of the Reporting Period, the business balance from "Hairong Yidai" reached RMB169 million, representing an increase of 233.80% as compared with that at the end of the previous year.In terms of credit card business, Bank of Qingdao upheld the principle of prudent risk management for its credit card business by strengthening operational compliance and developing customer base. During the Reporting Period, the accumulated transaction amount was RMB36.921 billion, representing a year-on-year increase of 56.31%.In term of the wealth management and private banking business, Bank of Qingdao adhering to the "customer-centric and market-oriented" service philosophy, the Bank is committed to building a professional service team and implementing customer segmentation by leveraging on market opportunities, so as to improve its customer service capabilities and drove a steady increase in the number of customers and asset size. As at the end of the Reporting Period, the Bank had 53.6 thousand retail customers with assets under management of over RMB1 million, an increase of 4.1 thousand or 8.28% from the end of the previous year, for a total of RMB123.772 billion assets managed by the Bank, an increase of RMB9.812 billion or 8.61% from the end of the previous year.In term of the customer service management, warm service is the operating feature of Bank of Qingdao. The bank has always attached importance to the promotion of network services, creating industry benchmarking and delivering "BQD services". The bank closely aligning with the theme of retail business development in service management, with continuous efforts to promote service experience management, and further expanded the intension and extension of BQD service. From the earliest standardized service to the warm service and then to the current advocated value-based service, BQD services always focus on customer needs, continuously optimized and adjusted the way of service management, coordinated and formed a synergy to improve customer experience, builds a closed loop from service quality management to service experience management, creating a new advantage of value-based service management to establish its core competitiveness in user experience, thus break new ground for the service management value.Corporate bankingIn terms of corporate banking, Bank of Qingdao established a grid-based marketing system and a front-end marketing mechanism to strengthen the service support capability of the headquarters. In addition, the Bank made precise efforts to expand customer base, increased income from intermediary business and reduced capital expenditures, driving a steady growth in corporate business. Bank of Qingdao's corporate deposits gained momentum. The Bank achieved steady growth in corporate deposits by capturing policy opportunities through "headquarter-to-headquarter" marketing, reaching out to industrial customers and acquiring customers from the source in bulk. The balance of corporate deposits (excluding accrued interest) reached RMB201.246 billion, accounting for 60.98% of the balance of various deposits (excluding accrued interest). During the Reporting Period, the Bank's efforts in customer base construction gradually emerged as a driver for increased deposits, with the average daily deposits from new corporate customers increasing by RMB3.610 billion and the average daily deposits from strategic customers at headquarter level reaching RMB82.820 billion, representing an increase of RMB11.551 billion as compared with that at the end of the previous year.In terms of the corporate loans, Bank of Qingdao fully implemented the new development concept with focusing on green and low-carbon development to develop a distinctive blue-finance brand. During the Reporting Period, amid challenges from economic downturn and decline in effective demand, the Bank seized quality assets and increased its credit facilities, balance of corporate loans (including discounted bills and excluding accrued interest) amounted to RMB189.087 billion, representing an increase of RMB21.624 billion as compared with that at the end of the previous year, representing an increase of 12.91%.In terms of the corporate customers, Bank of Qingdao revolving around customers, focused on building the customer base by promoting "the basic management and grass-roots management strategy" to expand foundational customer base, and adhering to hierarchical management to optimize customer structure, so as to achieve increased number and improved quality of customers. During the Reporting Period, the Bank paid close attention to the reserve of high-quality projects, followed major national and regional strategic plans and provincial and municipal industrial development plans, and strengthened accurate marketing to listed or to-be-listed, specialized, fine, characteristic and innovative companies specializing in green finance, blue finance and carbon finance. As at the end of the Reporting Period, the total corporate customers who have opened accounts with the Bank amounted to 194.2 thousand, representing an increase of 14.5 thousand or 8.07% from the end of the previous year. As at the end of the Reporting Period, Bank of Qingdao continued to adhere to the inclusive business development policy of "serving small and micro enterprises (SMEs) based on the local economy", and to focus on the three business directions of "technological finance, agricultural finance and livelihood finance" for strengthening product innovation and improving service level, so as to support development of SMEs. Since the epidemic, the Bank has implemented the support policies of governments at all levels and regulatory authorities for SMEs by launching "Easy Loan", "Growing Loan", "e Tax Loan" and other characteristic businesses, to fully support SMEs to fight against the epidemic and resume production. As at the end of the Reporting Period, the balance of inclusive loans to SMEs amounted to RMB25.578 billion, up by RMB3.572 billion or 16.23% from the end of the previous year, higher than the growth of the Bank's all other loans.Financial Market BusinessIn terms of the financial market business, Bank of Qingdao optimized the asset structure, and adhered to the development principle of light capital to enrich investment varieties for multiple channels to increase income and profits. The Bank actively promoted the issuance of capital bonds with no fixed term to provide strong support for business development. While continuously strengthening the comprehensive strength of wealth management, the Bank continued to enrich the product portfolios to give play to marketing commission channels. In addition, the Bank gave full play to the advantages of corporate banking qualification to expand the coverage of issuance and underwriting business, which significantly improved the depth and breadth of investment banking business, and increased its brand influence year by year. Bank of Qingdao responded to regulatory orientation, focused on market changes, continued to optimize the investment structure, actively participated in market transactions, adhered to the principle of light-capitalization development, increased total assets while controlling the capital consumption ratio, strengthened the swing trading of standardized assets, and improved comprehensive profitability. As at the end of the Reporting Period, the Bank's proprietary amounted to RMB203.933 billion, representing an increase of RMB20.370 billion or 11.10% as compared with that at the end of last year. Among them, the scope of bond investment reached RMB129.986 billion, representing an increase of RMB18.077 billion or 16.15% as compared with that at the end of last year, mainly due to the increase in investment in non-financial corporate bonds, local government bonds and railway bonds; RMB40.776 billion investments in public fund products, representing an increase of RMB803 million or 2.01% as compared with that at the end of last year, mainly due to the increased investment in bond-type public funds. In terms of the Interbank business, Bank of Qingdao actively responded to the new market making rules, and obtained the qualifications as a spot bond market maker in the bond market, becoming the first city commercial bank spot bond market maker in Shandong Province. During the Reporting Period, the Bank continued to obtain the primary dealer qualification for open market business in 2022. Through reasonable pricing and continuous and stable financing, the Bank actively carried out various businesses, continuously improved the quality and comprehensive strength of interbank market transactions, and gave full play to the active role of primary dealers in the open market, contributing to the healthy and stable operation of the interbank market business.During the Reporting Period, the net value of the Bank of Qingdao wealth management products was stable, with obvious comparative advantages among peers. The Bank has established and issued industry-themed fixed-term products, with product series continuing to be enriched. According to the Ranking Report on Wealth Management Capability of Banks (2022 Q2)" released by PY Standard, BQD Wealth Management, Bank of Qingdao's wholly-owned subsidiary, ranked sixth in comprehensive wealth management capability among urban and commercial wealth management institutions. Moreover, BQD Wealth Management was awarded the Golden Honor Award for Outstanding ROI Wealth Management Companies and Golden Honor Award for Outstanding Innovative Wealth Management Companies by PY Standard again by virtue of its excellent comprehensive strength and good customer reputation, proved the Bank's external wealth management financing channel expansion achieved fruitful results, and the management scale and profitability achieved a steady increase.During the Reporting Period, the scope and of scale of investment banking business of Bank of Qingdao has been significantly improved, so did the Bank's brand influence. During the Reporting Period, the Bank recorded the best prices of many projects among those comparables, allowing the Bank to satisfy the low-cost financing needs of good large businesses with less capital, which thus increased the customer loyalty and enhanced customer relationship. Besides, the Bank seized the opportunity for issuance and achieved good performance, and therefore established its image in the bond market by virtue of its excellent comprehensive business capabilities. During the Reporting Period, the Bank ranked first in terms of both scale and number of underwritings among issuers with corporate credit of AA and AA+ in Shandong Province, shown a competitive edge in field of marketization of bond business.In the second half of 2022, China's economy will continuously recover, meanwhile, the "The 20th National Congress of the Chinese Communist Party" will be held in the second half of 2022. This is an important moment for comprehensively building a modern socialist country and marching on a new journey toward the second centenary goal, and the Shandong Province and Qingdao City will continue to promote the replacement of old growth drivers with new ones for optimisation and acceleration. The positive fiscal policy will enhance its effectiveness in all-around way, together with the supports of the stable monetary policy in its aggregate structure and the regulatory policy to stabilise growth and adjust structures, the pressure on the banking sector is expected to ease gradually. Bank of Qingdao will continue to adhere to the basic operation guiding ideology of "deep cultivation and fine operation, intensified promotion, optimized structure, and sustained development" by taking concerted efforts and actions at all levels of the Bank proactively and quickly, and seizing the market to continue the solid development momentum in the first half of the year, so as to ensure the full completion of the annual operating plan. About Bank of Qingdao Co., Ltd.Bank of Qingdao Co., Ltd. Is founded in Nov 1996, which is the first main board listed bank in Shandong Province and the second "A + H" share listed city commercial bank in China. It has ranked among the 500 top banks in the world for many consecutive years. In Dec 2015, the company was listed on the main board of the stock exchange of Hong Kong (03866.HK). In Jan 2019, the company was listed on Shenzhen Stock Exchange (002948.SZ). Bank of Qingdao mainly provides customers with services and products such as corporate and personal deposits, loans, payment and settlement. Driven by the development of retail banking, corporate banking and financial market, the bank initially formed a relatively solid customer base and explored a development path with distinctive characteristics and high quality. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)