Monday, March 1, 2021
 
Columnist
Martin Hennecke
 
CQRC BANK
HKEx Stock Code : 03618 
 
Corporate Profile
Principally engaged in a range of banking services and related financial services in China.

Business Review - For the year ended December 31, 2012

I. Corporate Banking Business

In 2012, the total profit before tax from the corporate banking business increased by 11.39% to RMB1,992 million over the previous year, accounting for 28.19% of the Group's profit before tax. The overall growth in corporate loan of the Group had driven the net interest income of the corporate banking business to increase by 26.88% over the previous year.

1. Corporate deposits

Corporate deposits maintained steady growth. The Group strived to capture the corporate deposit market and continued to maintain steady growth in corporate deposits. As at 31 December 2012, the balance of corporate deposits of the Group reached RMB77,101 million, including guarantee deposits and other deposits, which accounted for 26.18% of the balance of deposits of the Group whilst posting a growth of RMB10,173 million or 15.20% over the previous year.

2. Corporate loans

The Company adopted a prudent and moderate credit policy for corporate loans. For the loan policy, the Group persisted in operating in compliance with laws and abided by the principle of “promoting some loans while curtailing others”. The Group effectively observed the macro economic control policy of the country and expanded its corporate loan business in a prudent, steady and appropriate manner. As at 31 December 2012, the balance of corporate loans (including discounted bills) amounted to RMB111,461 million (including discounted bills), representing an increase of RMB18,656 million or 20.10% over the previous year. Meanwhile, asset quality of corporate loans continued to improve, with outstanding non-performing loans (excluding discounted bills) and non-performing loan ratio of RMB939 million and 0.88%, respectively, representing a decrease of RMB102 million and 0.24 percentage point respectively from the previous year.

The structure of credit assets was further optimised. On industry structure, in adherence to Chongqing's industry characteristics of “undertaking large projects, operating sizable corporation, building large bases and developing pillar industries” and based on the empowerment and expansion of Chongqing's industries, namely “6+1” pillar systems for speeding up the development of Chongqing's industry cluster, the Group focused on extending loans to the industries such as manufacturing, water conservancy and environment and public utility management, real estate, construction as well as production and supply of electricity, gas and water, which accounted for 27.19%, 17.34%, 15.03%, 8.29% and 6.25% of the total amount of corporate loans of the Group (excluding discounted bills), respectively. In working on its customer profile, the Group remained committed to forging closer collaboration with quality enterprises among the top 500 enterprises in the world, top 500 enterprises of China, top 100 enterprises of Chongqing, industry leaders as well as government institutions whilst maintaining and strengthening its partnership with prime SME customers. As at 31 December 2012, the Bank had a total of 4,315 SME customers with RMB84,026 million loans outstanding with us (including discounted bills), accounting for 75.38% of the balance of loans.

3. Corporate banking products

The corporate banking product mix was further optimised. According to the economic situations and major industry circumstances of districts and targeted at industry characteristics, customer settlement practices, the manner of fund retention etc., the Bank which conducted research and development on related financial products to be able to fulfil customer needs and launched acquisition loan products, customs guarantees and sub-zero notes business. In the meantime, domestic factoring and inventory mortgage business researched and developed by the Bank have been submitted to the regulatory authorities for inspection while bonded sales financing, domestic credit letter and cash management are under innovation work. Such series of work will further perfect the product lines of the Bank's corporate banking business.

4. Corporate customer managers

Steady progress had been made in the establishment of the corporate customer manager mechanism. Since the launch of the corporate customer manager mechanism in July 2009, after setting up for more than 3 years, by ways of promoting education, training, management mechanism on the admission and exit criteria as well as assessment, the number of corporate customer managers and their overall quality achieved significant improvement. In 2012, four training sessions were provided to corporate customer managers, and the number of corporate customer managers increased by 9.09% over the previous year. The expansion and growth of the team will substantially facilitate the growth of corporate business.

5. Establishment of corporate model branch outlets

Creation of corporate model branch outlets has commenced. For the purposes of further grasping the keynote of corporate business transformation and upgrade, advancing the characteristics operation of corporate business, implementing streamlined management and fostering an enterprising culture of corporate business line, as well as building a “bridgehead” for business development, the Bank commenced establishment of corporate model branch outlets in 2012. Through interactive linkage between main sub-branches and branch outlets, the functions of first-level branch outlets served in corporate business were fully unleashed and the awareness of corporate business lines, particularly employees from first-level branch outlets, to corporate business development was enhanced. Guided by the idea of concept indoctrination, the Bank advocated full-marketing and incorporated sales service procedures into branch outlets. With a guarantee on innovative assessment management mechanism and an emphasis on employee team building, the Bank established full-service branch outlets, raised value of such branch outlets and achieved positive sustainable development of corporate business.

6. Channel construction

Channel construction continued to be enhanced. As at 31 December 2012, the Bank continued to maintain extensive cooperation with competent authorities of the Chongqing Municipal Government. On one hand, after becoming a bank partner of the centralised finance and treasury payment system in Chongqing(重慶市財政國庫集中 支付系統), the supervisory bank regarding capital used in real estate development in Chongqing(重慶市房地產開發項目資本金監管銀行), the agency bank undertaking non-taxation business in Chongqing City(重慶市非稅業務代理銀行)as well as the agency bank “Major Overhaul Fund” of Chongqing Municipal Bureau of Land Resources and Housing Management in Chongqing City(重慶市國土房管「大修基金」代理銀 行), the Bank stepped up its efforts in the cooperation of various business and newly opened 19 branches to launch centralised treasury payment business during the whole year. Launch coverage ratio reached 76.19%. On the other hand, besides developing the information system for businesses with Chongqing Administration for Industry and Commerce, the Bank continued to facilitate the establishment of the SMS platform for traffic fines in Chongqing City and broaden the scope of collaboration among various channels. The Bank was the only financial services bank to handle urban and rural social pension insurance for residents in Chongqing City. As at 31 December 2012, 11,000,000 people in the city have already been paid and distributed pension insurance through the Bank, which generated an annual cash flow of more than RMB4,500 million, and the balance of deposit was nearly RMB4,000 million.

7. Small enterprise business

As at 31 December, according to specifications prescribed by four ministries and commissions of the nation, small enterprise loan balance of the Bank amounted to RMB31,006 million (excluding discounted bills), representing an increase of RMB7,514 million as compared to the beginning of the year and an increase of 31.98%, higher than the average loan growth rate of 15.49 percentage points of the Bank. Higher than corresponding period of the previous year by RMB1,391 million, the increase in loans reached the regulatory requirement of “Two Minimum Thresholds” (兩個不低 於). The Bank ranked top among its peers in the city in terms of the growth in small enterprise loans. Accumulated loans to micro enterprises amounted to RMB2,413 million while micro enterprise loan balance amounted to RMB2,324 million, representing an increase of RMB2,192 million as compared to the beginning of the year. All of the three indicators of the Bank, including the number of new accounts opened by micro enterprises, the amount of loans to micro enterprises and outstanding balance of such loans, ranked top among peers in the city.

For small and micro credit products, the Bank adhered to the concepts of “specific systems, exclusive products, specific procedures and special assessment”, made collation on existing solutions, improvement and innovation on loan categories and formulated corresponding operation rules. Under the prerequisite of controllable risks, targeted at small and micro enterprises at different development stages and with different capital requirements, the Bank launched six exclusive small and micro enterprise credit products under the “Easy Commercial Loans”(商易貸) series and formulated corresponding operation rules and a systematic framework of credit solutions, product solutions, operating procedures and implementation rules on small enterprise lines respectively.

For small and micro credit business procedures, with a view to propping up working efficiency and competitiveness of small and micro enterprise business, the Bank proactively formulated and optimised business procedures of those small and micro enterprises and introduced specific procedures of “investigation in parallel with review, rating in parallel with approval, whilst submitting applications for expenditure and billing simultaneously”(調查審查同時進行、評級授信同時上報、支用出帳同時申請) among small and micro enterprise businesses. Particularly focused on credit requirements of micro enterprises, the Bank launched simplistic business process (一表通) concerning Micro Enterprise Business Startup Subsidizing Loan (微型企業創業扶持貸款). Application, investigation, review and approval for Micro Enterprise Business Startup Subsidizing Loan can be completed in a business process by simply filling in the form. Capital can be credited into account on the same day which improved the processing efficiency of Micro Enterprise Business Startup Subsidizing Loan and supported the development of domestic micro enterprises.

For risk aversion and control of small and micro credit business, the Bank worked on three areas to consistently enhanced asset quality. Firstly the Bank focused on sound internal control system and established effective risk aversion mechanism. Secondly the Bank focused on risk warning and identified key risk aversion and control areas. As internal and external demands remained weak and downturn of the national economy continued, the Bank repeatedly conducted specific investigation and research on micro enterprise business, timely unveiled the risks encountered by small enterprises during operations, identified key risk aversion and control areas so as to shoot the arrow at the target. Thirdly the Bank focused on enhancement of credit specific checking and strengthened regulatory control. As at 31 December 2012, small enterprise bad loan balance of the Bank amounted to RMB744 million, representing a decrease of RMB178 million as compared to the beginning of the year. Small enterprise bad loans accounted for 2.39%, representing a decrease of 1.56 percentage points as compared to the beginning of the year.

8. International business

The Bank insisted in upholding the ideas of domestic market and international market, export and import, internal introduction and outward development, as well as providing support in building Chongqing into a bridgehead in inland development. In 2012, the Bank recorded international business settlement of US$1,082 million, representing a year-on-year growth of 32.44%, thus taking a leading position among the banks of the city and ranking top among 3 local financial institutions; sale and purchase of foreign exchange handled by the Bank amounted to US$591 million, representing a year-on-year growth of 15.43%; the total volume of trade financing for the whole year amounted to US$407 million, representing a year-on-year growth of 36.58%. The Bank established correspondent banking relationships with 65 banks at home and abroad, raising the number of its correspondent banks to 313. It also commenced new business such as cross-border RMB settlement.

9. Investment banking business

The Bank achieved breakthroughs in the wealth management business. Under the precondition that the capital was utilised in compliance with the requirements of the national macro-control and regulatory policies, the Bank strived to satisfy the needs of the investors. In 2012, the Bank designed and issued 237 tranches of wealth management products in total and raised proceeds of RMB41,255 million, 342.37% higher than that for 2011. The balance of wealth management products amounted to RMB13,093 million, representing an increase of 180.24% over the end of the previous year. Two major series of wealth management products targeting at the general public, namely “Jiangyu Wealth - Building up your fortune”( 「江渝財富—天添金」) and “Jiangyu Wealth - Happy life in the Ba-Yu Region”( 「江渝財富—幸福巴渝」) were developed.

II. Retail Banking Business

The retail banking business of the Group recorded a profit before tax of RMB2,387 million, up 75.01% over the previous year, representing a more remarkable contribution to the Group's profit. The steady increase of retail banking triggered a growth of 25.98% and 28.82% in operating income and net interest income of the retail banking business of the Group as compared to the previous year. In addition, the blistering growth of personal bank card, agent businesses and retail loans has propped up a relatively high profit growth of the retail banking business for the year.

1. Retail Deposits

Backed by the vibrant economic growth in Chongqing, the Bank took full advantage of its exceptional regional brand recognition and strove to align its brand value services with key marketing campaigns, with an emphasis on the business promotion and sales during key business hours of peak seasons, of high-end major customers and key projects in target markets. Our efforts paid off as evidenced by an increase of RMB38,196 million or 21.31% in retail deposits over the end of the previous year to RMB217,409 million. The Bank remained unrivalled among regional counterparts in terms of the amount, annual growth and market share of retail deposits.

2. Retail Loans

The Group achieved a solid growth in retail loans, taking the lead in the local financial market in terms of stock and increment together with a sharp increase in residential mortgage loans and personal loans for business purposes. With a view to becoming the largest and the best local retail bank, the Group managed to further consolidate its leading presence in retail loans business on the strength of the improvement in credit structure, the innovation of retail credit products, the adjustment on customer and product structure and the increase in the personal loans for business purposes with higher yield. Leveraging the specialised marketing strategies of the retail loan centers, the Group provided the customers with professional and effective retail loan services to such end as to streamline business process and standardizing operation procedures.

Based upon the segmented customer base, the Bank provided differentiated retail loan products and services by optimizing the existing product structure according to market demand and amending the existing measures on retail loans such as retail loan products for operating purpose. The retail loans of the Group increased by RMB10,559 million as compared to the end of the previous year to RMB62,098 million, among which personal residential mortgage loans increased by RMB4,349 million from the end of the previous year to RMB35,185 million. The loans to private business and employment assistance loans increased by RMB4,362 million as compared to the end of the previous year to RMB18,765 million. The stock of retail loans of the Group ranked first in the local market.

Policy loans saw a steady growth. The government-supported employment and reemployment related small amount loans, a cutting-edge policy-based loan project of the Bank, had remarkably contributed to the employment conditions of the urban and rural citizens of Chongqing and the profitability of the Bank, thus leading to a win-win result with regard to economic profit and social responsibility. The policy-based loans of the Bank increased by RMB1,195 million as compared to the end of the previous year to RMB3,737 million with its increment and stock in the leading position compared with other counterparts in China.

3. Bank Cards

The number of new bank cards and the amount of spending in relation thereto continued to surge. As at 31 December 2012, the total number of debit cards of the Bank reached 10,803,400; the spending related thereto amounted to RMB36,309 million, representing an increase of 57.78% over the previous year. As at the 31 December 2012, the total number of credit cards issued by the Bank amounted to 65,500, representing an increase of 22,600 over the end of the previous year. Spending related to credit cards in the year amounted to RMB5,821 million, representing an increase of 389.57% over the previous year. The balance of loans of credit cards amounted to RMB1,223 million, representing an increase of RMB808 million or 195.10% over the beginning of the year. The Bank committed itself to introducing more innovative credit card business while new products that cater to the demand of segmented market were developed. It launched Jiangyu Business Card (江渝公務卡) added the function of withholding the payment for tabacco to credit cards and launched the business of telephone-POS. The Bank carried out the business plan called “1 Alliance” (1聯盟), which was jointly developd by the Bank and enterprises. The plan, relying on the the loyalty system, POS which can accumulate credits, MIS-POS and other tools, aims at forging a new marketing mode based on the business circle. The on-line system used for the marketing and management of the loyalty credits of clients supported the sustainable development of the unique credit cards.

4. Agency Business

The Bank has been increasing intermediary business products of retail banking and recorded stable increase in income. In 2012, the Bank's sales volume from the distribution of trust products amounted to RMB213 million and an income of RMB9,391,700 from intermediary business was recorded. The operating income from the distribution business of rare metals was RMB31,119,800 and an income of RMB724,200 from intermediary business was recorded. In 2012, the Bank launched the repurchase agency business of rare metals and became the first rural commercial bank in the PRC to commence such business. Since the commencement of the business, the amount of rare metals repurchased exceeded one million and a convenient two-way channel for the trading was created for customers who invest in gold. In the meantime, the Bank became the first one to issue products of rare metal related to Lunar New Year Animals in Chongqing. The Bank was also proactively seeking the opportunity to act as the agent of the real gold trading business of the Shanghai Gold Exchange and striving to refine the system of intermediary business products.

III. Treasury Busines

Since the beginning of this year, the inter-bank yield dropped significantly with the release of liquidity. In the meantime, issue of trust, wealth management and other relevant products decrease due to the decrease in the demand of financing from business enterprises, drop in economic growth and the further opening of direct financing channel. Compared to the previous year, the investment environment this year was more complicated and the pressure on capital utilization increased. Under this situation, the Bank selectively targeted at the investment of bonds, wealth management, bills and inter-bank lending with increased investment in bonds and interbank lending and innovation in financial products, thereby maintained stable growth in profit in a capital market where the spread of the interest rates were tightening.

Firstly, the Bank adopted prudent operation style and multiple financing channels, effectively guarding against liquidity risk. Secondly, the Bank swiftly seized market opportunities and continued to expand the business of bills held under resale agreement so as to ensure a steady growth in earnings. Thirdly, the Bank strove to raise the efficiency of capital operation by stressing the refinement of risk management. Fourthly, the Bank improved its interbank lending business, created new investments in trust plans and purchased business of beneficial interests in trust plan held under resale agreements, thereby further broadening its capital utilization channels and increasing exchange and cooperation with peers.

The treasury businesses recorded profit before tax of RMB2,576 million, representing an increase of RMB319 million or 14.13% as compared with the end of the previous year, which contributed to 36.44% of the Group's profit and became an important source of profit.

IV. Distribution Channels

1. Physical outlets

Operating outlets are the primary distribution channels of the Bank. As at 31 December 2012, the Bank had 1,767 branches of various kinds, including 1 headquarter, 1 branch, 1 business department, 42 sub-branches, 4 tier-2 sub-branches and 1,718 branch outlets. Our network of branches covers all the 38 administrative districts and counties in Chongqing. We have 1,460 distribution outlets covering 1,244 townships and villages in Chongqing. We have established 306 outlets in the Chongqing urban areas. The number of branches ranked first in both county areas and urban areas. On December 28, 2012, the Qujing Branch of the Bank in Yunan officially opened and became the first non-local branch of a rural commercial bank in the PRC.

The Bank has strategically developed distribution channels, optimised the layout of outlets and stepped up restructuring to improve its service coverage, service capabilities and operational efficiency. In 2012, the Bank reallocated 73 existing branches and refurbished 207 existing branches. Since the establishment in June 2008, the number of annual refurbished outlet has exceeded 900, which is more than 52% of the total outlets under its administration and has resulted in a significant improvement in the overall appearance of outlets.

2. Self-service banking

In order to expand the scope of customer services and provide customers with more convenient services, the Bank established twenty-one 24-hour self-service centers as at 31 December 2012, and the number of ATMs and self-service inquiry terminals increased to 2,133. The proportion of machine to outlet reached 1.2:1, the first time exceeded 1:1, among which the number of ATMs increased by 422 units to 1,645 units over the end of the previous year and self-service inquiry terminals increased by 121 units to 488 units over the end of the previous year.

408 units of convenient rural financial self-service terminals have been newly launched in 2012. As at 31 December 2012, an aggregate of 618 terminals were launched and 575 convenient rural financial self-service centers had been established and commenced on-line operation while the rest ones are under construction. As such, the Bank extended its financial service coverage whilst bringing convenience and benefits to the people in the rural area. The service won widespread recognition from the local government and the general public, with both social and economic benefits wellreceived.

3. E-banking

In 2012, the Bank kept up to place high importance on channel construction in the development of e-banking business. It continued to enrich its products, strived to develop an e-banking system with comprehensive coverage and expanded in the area of convenient financial service, thereby further increased the level of customer satisfaction. Meanwhile, the Bank kept raising the brand recognition and influence of E-banking through diversified marketing activities, driving the effective growth in the sizes of customers and business. In 2012, the E-banking transaction amount amounted to RMB359,690 million, representing an increase of 222.41% over the previous year, and the financial transactions through E-banking amounted to 12,958,400, representing an increase of 748.12% over the previous year.

(1) Internet banking

Corporate internet banking
The Bank successfully launched an electronic platform for the open and transparent tender of the center of public resources, on which electronic business management can be applied to the whole process from the application of project tender to the completion of the project transaction, thereby further increased the capability in providing customised service to high-end clients. The success of the online operation of the B2B internet payment project filled the emptiness of the Bank in the area of corporate electronic business and marked the comparability of the Bank's comprehensive platform in competition with the other major commercial banks in the area of electronic banking. By the end of 2012, the number of corporate internet banking customers of the Bank increased by 118.76% over the end of the previous year to 5,598; the transaction amounts for the year exceeded RMB202,856 million, representing a growth of 122.36% over the previous year.

Personal internet banking
The Bank continued to increase the function of its products. It has newly launched self-service subscription service for its wealth management products, online sale of funds, business of regular purchase for welfare lottery and the services of Tenpay and directory, thereby further broadening payment channels and service scope. By the end of 2012, the number of personal internet banking customers reached 153,900, representing an increase of 416.44% over the end of the previous year. The transaction amount for the year amounted to RMB23,282 million, increased by 203.19% over the previous year.

The Bank continuously refined and upgraded its internet banking so as to meet the various and diversified demand for financial services and enhance customers' experience. The Bank has won the “Gold List of E-banking in China - Innovation Award of the Best Internet Banking of Regional Commercial Bank 2012” (中國 電子銀行金榜獎—2012年區域性商業銀行最佳網上銀行業務創新獎) by China Financial Certification Authority.

(2) Mobile banking

In respect of mobile banking, the Bank launched cross-bank internet realtime remittance service and Chongqing PBOC Integrated Service System of Payment Information (重慶人行通) - cross-bank payment transfer business within Chongqing, thereby further enhanced the experience of customers and the convenience of remittance. In the meantime, the Bank launched self-service subscription service for its wealth management products and therefore further increased the channel of purchase for its wealth management products and met the demand of customers to buy those products wherever and whenever they want. At the end of 2012, customers of mobile banking reached 643,400, representing an increase of 313.23% over the end of the previous year. The transaction amount for the year was RMB133,552 million, representing an increase of 955.25% over the previous year. The number of financial transactions was 11,690,400, increased by 968.01% as compared to the previous year.

The mobile finance topic of the Study on the Establishment of Mobile Finance Platform by Regional Commercial Banks and the Strategy for the General Benefit of Financial Development (《區域性商業銀行手機金融平台建設暨普惠金融發展 策略研究》) has won the Award of Outstanding Achievement of Research on Risk Management of Information Technology in the Banking Industry from 2011 to 2012 (2011-2012年度銀行業信息科技風險管理研究成果優秀獎) given by the CBRC.

(3) Telephone banking and SMS banking

The Bank reinforced effort in channel consolidation. The introduction of the payment function of “Baiyitong” improved payment functions through telephone banking, whilst the scope thereof was enlarged by the newly launched enquiry function on the Major Overhaul Fund. For the year ended 31 December 2012, it served customers for 9,064,300 times. Given such sound development, the growth of SMS banking is promising. As at 31 December, the accounts of SMS of the Bank had been accumulated to 3,308,800, with 1,868,400 additional customers in the year, representing an increase of 129.71% as compared with the end of the previous year, while contracts signed by high-end customers accounted for 57.16%, an increase of 17.14 percentage points as compared with the same period of the previous year.

Business Outlook - For the year ended December 31, 2012

Having undergone a period of rapid growth before the crisis, today's world economy has entered into a period of in-depth transformation and adjustment. The fundamental factors underpinning the national economic and social development are strong in the long term. The domestic market sees huge potentials and enormous social productivity. There are also stronger scientific innovation, abundant human resources and competitive production factors as a whole. Chongqing's “onecoordination, three-transformation and two-transition (一統三化兩轉變)” strategy brought about a favorable economic scenario in which the industry is a strong driving force, the openingup is fruitful, consumption is strong, investment growth is stable and employment and start-ups are active. In 2013, the Bank will seize the opportunity, adhere to the theme and forge ahead on reforms and innovations as well as transformation and upgrade unswervingly. It will remain committed to the implementation of the “three-transformation” strategy. Based on its market positioning, the Bank will adhere to the prescribed direction of reforms and promote the practical and innovative attitude, in a bid to delivering profound changes in the business transformation, the management model, and the working style. Seven tasks will be prioritised, including the development of corporate finance through a series of control measures, to enhance its retail competitiveness by leveraging its products and services across the channels, to promote profit growth through diversified operation, to ensure the sustainable development through strengthened management at fundamental aspect, to guarantee the quality of loans through preventing the credit risks, to develop the business through innovation in technology information, and to consolidate the pillars of development through building the ability of the team. It will gradually work towards “being the most competitive regional commercial bank of China” and contribute to “realizing common prosperity in Chongqing through scientific development(科學發展、富民興渝).

In 2012, the Bank continued to emphasize the sense of responsibility in its management and culture. It systematically collated its 60 years' history and extracted elements related to the sense of responsibility so as to create the slogan of “Root in the region, Service for the public” and made it the brand of responsibility for the Bank gradually. It introduced a mechanism of third party appraisal, prepared and released its first Report of Corporate Social Responsibility, thereby facilitated an uplift in the level of management in respect of social responsibility.

In 2012, the Bank continued to undertake financial services for the livelihood of the people and helped promote common prosperity. It laid a foundation with characteristic operation, proactively concerned about the livelihood of the community and strived to elevate the service standard for the agricultural industry. In addition, the Bank improved its services for small and micro-sized enterprises, helped develop the private sector and pillar industries, industries with advantages, strategic emerging industries and key projects, so as to facilitate the upgrade of economic transformation and strive to press ahead with the strategy of “one-coordination, threetransformation and two-transition” in Chongqing.

In 2012, the Bank continued to undertake low-carbon finance and promote the development of green environment. It included the development of civilised ecological environment in every aspect and the whole process of its operation and management. The bank also conscientiously carried out macroeconomic control, promoted low-carbon credit allocation, electronic business processing, scripleless operation services and whole-staff-participation in environmental protection for public welfare, thereby facilitated green governance, guided resources of the community and economy and promoted harmonious development between business enterprises and the environment.

In 2012, the Bank continued to undertake harmonious finance, so as to facilitate the welfare of the community. It endeavored to return to the community for jointly developing and enjoying a harmonious community, persisting operational integrity, promoting product innovation, disseminate finance education, adhering compliance and self-discipline and protecting the legal rights of consumers in the financial sector. In addition, the Bank also established harmonious labor relationship and ardently participated in charitable activities for the community, thereby acquiring customers, market share and development through the norms of civilization.

Looking ahead, the Bank will further strengthen its sense of social responsibility, adhere to its mission of “Excellent services to customers, Maximum returns to shareholders, Real success for our people, Great contribution to community”, press ahead with the strategy of “three-transformation”, focus on the profound change of its business structure, work style, model of management, enhance the sense of responsibility in management. In addition, the Bank will endeavor to advance to a new stage with new achievements in performing economic, environmental and social responsibilities, so as to accomplish co-existence, co-prosperity, mutual help and benefits between business enterprises and the community for greater contribution to boosting the “scientific development and common prosperity” in Chongqing.

(For details, please visit the official website of the Bank for its Corporate Social Responsibility Report 2012.)

Source: CQRC Bank (03618) Annual Results Announcement
Chairman LIU Jianzhong Issued Capital (shares) 2,513M
Par Value RMB 1 Market Capitalisation (HKD) 8,143M
 
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