On February 1st 2023, Brand Finance, in collaboration with The Banker magazine, released the "Global 500 Banking Brands 2023" list. Shanghai Rural Commercial Bank's brand value has significantly increased by over 26% to $1.071 billion US dollars, ranking up 14 places to 194th compared to 2022. The bank's brand rating has also been upgraded to "AA".
In 2022, Shanghai Rural Commercial Bank embarked on a comprehensive brand renewal by adopting a new brand logo, new official website address, and new official intellectual property (IP). The bank also fully implemented a new visual identity (VI) system. The purpose of this brand renewal was to showcase the bank's brand value of "embracing authentic life and promoting benevolent finance" and convey the concept of "value creates a new brand".
As a local financial institution rooted in Shanghai for over 70 years, Shanghai Rural Commercial Bank underwent a comprehensive restructuring in 2005 based on its rural credit foundation, becoming a young "time-honored" brand that combines the essence of rural credit with the vitality of reform. Over the years, the bank has been committed to its mission of "inclusive finance delivers better life" and has focused on serving agriculture, rural areas, farmers, as well as science and technology innovation, small and micro enterprises, and community finance. It has established a good market reputation and brand image.In August 2021, the bank went public on the A-share market and actively promoted its core strategies of “insisting on customer orientation, inclusive finance and digital transformation”. It continued to move towards the goal of "creating value" by creating value for customers, society, and enhancing its own value.
According to the 2022 performance report, as of the end of December 2022, the bank's total assets reached 1.28 trillion RMB, representing a growth of 10.62% compared to 2021. The bank achieved operating income of 25.627 billion RMB, with a year-on-year increase of 6.05%. The net profit attributable to shareholders reached 10.974 billion RMB, with a year-on-year growth of 13.16%. Additionally, the bank maintained a good asset quality with a non-performing loan ratio of 0.94% and a provision coverage ratio of 445.32%, which indicates that the bank has continued to strengthen its asset safety.
In 2022, Shanghai Rural Commercial Bank was ranked 124th in the Global 1000 Banks list by The Banker magazine, an improvement of 25 places compared to the previous year. The bank's credit rating by S&P Global (China) is "AAspc-" with a stable outlook.
"Global 500 Banking Brands" is a ranking compiled by Brand Finance, a UK-based brand valuation research firm. The list calculates the brand value of banks using the discounted cash flow method and evaluates their market competitiveness by analyzing financial data. Being included in this list not only signifies strong overall capabilities but also indicates international recognition of the brand value.
