Since Bank of Ningbo announced at the end of 65438+February last year that it would acquire 70% equity of Huarong Consumer Finance for 109 1 100 million yuan, this is the latest time for Bank of Ningbo to respond to the question about the progress of acquiring the equity of Huarong Consumer Finance. Once Bank of Ningbo's acquisition is approved by the regulatory authorities, Huarong's consumer finance will change hands.
In five years, the consumer finance license is only one step away.
In June last year, Bank of Ningbo issued the Proposal on Foreign Equity Investment of Ningbo Bank Co., Ltd., which announced that the company plans to invest no more than 5 billion yuan, with a shareholding ratio of not less than 565,438+0%, and participate in a non-bank financial institution, including but not limited to trust and consumer finance companies.
At that time, many people in the industry speculated that Bank of Ningbo wanted to obtain a consumer finance license through controlling interest. After all, Bank of Ningbo has long coveted consumer finance licenses.
Back in 2065438+June 2008, Bank of Ningbo announced that it had signed a capital contribution agreement with Ningbo Fubang Furniture Co., Ltd. and Ningbo City Plaza Company under Ningbo Fidelity, and planned to jointly establish Yingyong Consumer Finance Co., Ltd. with a registered capital of 500 million yuan. The above-mentioned parties contributed 300 million yuan, 65.438+0.5 billion yuan and 50 million yuan respectively, and their shareholding ratios were 60%, 30% and 654.38+0% respectively.
In 2020, Ningbo Fidelity withdrew from participating in the investment, and the plan to set up Yingyong consumer finance was finally stillborn. However, since then, Bank of Ningbo has publicly stated many times that he is still actively preparing to build a consumer finance company.
With the increasing difficulty in applying for a consumer finance license, Bank of Ningbo's entry into consumer finance has shifted from setting up a company to buying shares. Bank of Ningbo is even willing to pay a premium to gain control.
On February 28th last year, 1, Bank of Ningbo announced the resolution of the fifth interim meeting of the seventh board of directors, deliberated and passed the Proposal on Foreign Equity Investment of Ningbo Bank Co., Ltd., and agreed that the company would transfer 70% equity of Huarong Consumer Finance Co., Ltd. at a price of 109 1 100 million yuan.
The equity transfer was publicly listed and sold through the Beijing Financial Assets Exchange, and the recorded appraisal price of all shareholders' equity of Huarong Consumer Finance was 65.438+0.039 billion yuan. The appraisal price of 70% equity in this transfer is 727 million yuan, which means that Bank of Ningbo won this license at a premium of about 50%.
Compared with the owners of consumer finance licenses in the same period, the cost of obtaining a license in Bank of Ningbo is also at a higher level. In March this year, Bank of Nanjing only invested 387.86 million yuan to acquire 4 1% equity of Suning Consumer Finance. Together with the previous equity of Nanjing Bank 15%, the shareholding ratio rose to 56%, thus owning the controlling stake in Suning's consumer finance.
Now Bank of Ningbo's entry into Huarong consumer finance has reached the final key step. As long as it passes the regulatory review, Ningbo, a licensed bank that is five years late, is really in the bag.
The exhibition has been put on the agenda
Recently, China Huarong disclosed the operation of Huarong Consumer Finance 202 1. According to the annual report, the income from termination of business activities of China Huarong is mainly the income from holding Huarong Consumer Finance, a subsidiary for sale, in 20021year. Huarong's 20021annual consumer finance income123.8 billion yuan, up12.3% year-on-year; After-tax profit was 239 million yuan, a year-on-year increase of 58.3%. Although the overall growth, but still at the end of the entire consumer finance track.
Compared with the double-digit growth of income and profit, Huarong's total consumer financial assets declined. As of 20021,65438+2,31,the total assets held by Huarong Consumer Finance for sale was 7.035 billion yuan, which was about 12% lower than that of 7.955 billion yuan in 2020.
According to the results of 13 consumer finance companies counted by the previous consumer finance channel, although the growth rate of total assets of consumer finance companies slowed down as a whole, there was almost no negative growth.
In fact, Huarong's consumer finance has never developed.
Although Bank of Ningbo's consumer finance license has not been obtained, the future development of Huarong's consumer finance has already begun, and Huarong's consumer finance is likely to be completely transformed after this equity change.
Generally speaking, Bank of Ningbo hopes to use the business experience of its branches and sites and lower capital cost to expand Huarong's consumer finance.
According to market information, Bank of Ningbo is providing direct sales teams for Huarong's consumer financial reserves, and sending direct sales teams to areas not covered by the parent company's outlets through 16 branch. The first batch covers about 70 cities. It is said that the formal exhibition industry may start in the first half of this year.
In addition, on March 25th, Bank of Ningbo issued the Announcement on the Adjustment of Estimated Amount of Daily Related Party Transactions in 2023, which showed that due to the needs of Huarong's consumer finance business, Bank of Ningbo increased the inter-bank credit line by 8 billion yuan and the non-credit line by 5 billion yuan.
The renaming of Huarong consumer finance is also on the agenda. It is understood that after the completion of the equity transaction, Bank of Ningbo plans to rename the new company "Ningyin Consumer Finance".
At present, only three of the 30 established consumer finance companies have changed their controlling shareholders, namely Huarong Consumer Finance, Shang Meng Consumer Finance and Suning Consumer Finance. The equity transaction of Suning Consumer Finance is in progress, and there is no news of renaming it yet. The predecessor of Mongolian consumer finance is Yin Bao consumer finance. After the bankruptcy of Baoshang Bank, the equity investment of Baoshang Bank was made by Mongolia.
With the acceptance of commercial banks, Bank of Shang Meng became the largest shareholder of consumer finance in Yin Bao, holding 44. 16%, and Yin Bao consumer finance was renamed as Shang Meng consumer finance.
Judging from the non-stop layout of Huarong Consumer Finance in Bank of Ningbo, there should be no reversal plot in this equity transaction. After the supervision is passed, Huarong consumer finance will become history, and Ningyin consumer finance will officially debut.
Personal retail business is comparable to China Merchants Bank.
As an excellent student in city commercial banks, Bank of Ningbo's performance in 20021is also very bright. The total assets of 202/kloc-0 exceeded 2 trillion yuan for the first time, reaching 201560.7 billion yuan, an increase of 23.90% compared with the end of last year. By the end of 20021,the total market value of Bank of Ningbo exceeded 250 billion, ranking 10 among A-share listed banks.
At present, Bank of Ningbo's business is mainly concentrated in 65,438+02 profit centers such as corporate banking, retail companies, wealth management, private banking and financial markets, as well as the profit centers of three subsidiaries such as Yingyong Fund, Yingyong Leasing and Ningyin Finance. Among them, the retail personal loan business occupies a decisive position.
After Bank of Ningbo put forward the strategy of "big retail" in the 20 14 annual report, it constantly promoted the scale of its personal loan business. In 2020, personal loan business surpassed corporate business for the first time, and became one of the three new profit centers in Bank of Ningbo in that year.
202 1 The results show that the income from personal business, corporate business, fund business and other businesses in Bank of Ningbo accounts for 36.73%, 34.68%, 27.96% and 0.62% respectively. Personal business is still contributing to Bank of Ningbo's performance.
With the sustained and rapid growth of personal loan business, Bank of Ningbo is more eager to win the consumer finance license.
Known as the "king of retail", the balance of personal consumption loans of China Merchants Bank at the end of 2020 was only 65.438+035.606 billion yuan, which was 42.772 billion yuan different from the 65.438+078.378 billion yuan in Bank of Ningbo in the same period. China Merchants Bank's shareholding in Zhaolian Consumer Finance has achieved the first place in the consumer finance track with an annual profit of 3.063 billion yuan.
Even though the total assets and retail business of Hangzhou Bank are not as good as that of Bank of Ningbo, its consumer finance performance is growing, with a net profit of 239 million yuan last year, up 65,438+007.8% year-on-year.
Bank of Ningbo has rich experience in consumer loan business and is one of the earliest banks in the industry to provide white-collar loans. In 2006, it began to promote white-collar loans. At present, white-collar loan, a personal credit product, is still the fist product in Bank of Ningbo. Products are unsecured and unsecured; The maximum amount is 500,000 yuan; The longest credit period is 3 years, but the exhibition industry is limited because there is no consumer finance license.
With Huarong's consumer finance license, Bank of Ningbo can carry out consumer finance business without geographical restrictions, and can complement the retail business of banks, undertake more sinking consumer financial assets under the tolerance of looser leverage and regulatory indicators, and extend the reach of consumer loan business.
According to Bank of Ningbo insiders, as a new brand owned by Bank of Ningbo, Ningyin Consumer Finance Company does not take the independent development route, but forms industrial complementarity and * * * vibration with all business lines of "Big Retail" in Bank of Ningbo, pushing the asset side to incite the ecological opposition of the whole retail sector, boosting the profits of big retail and light capital business, and opening up the development potential.
This will be more beneficial for Ningyin to extend its services to more long-tail customers.
Related Q&A: The loan interest rate of 500,000 yuan of Bank of Ningbo White Collaborate and the loan interest rate of Bank of Ningbo White Collaborate fluctuate on the benchmark interest rate of the central bank, and the floating ratio is related to the qualifications of borrowers. At present, the benchmark interest rate of the central bank is: 1, the loan term is within one year (including one year), and the interest rate is 4.35%; 2. The loan term is one to five years (including five years) and the interest rate is 4.75%; 3. The loan term is more than five years, and the interest rate is 4.90%.