In the process of my country's economic development, small and micro enterprises play an important role. People's Bank of China Governor Yi Gang said at the Lujiazui Forum that as of the end of 2017, small, medium and micro enterprises (including individual industrial and commercial households) accounted for more than 90% of all market entities, contributed more than 80% of the country's employment, and more than 70% of invention patents. , more than 60% of GDP and more than 50% of tax revenue.
However, it is difficult and expensive for small and micro enterprises to obtain financing, which has always been one of the problems facing financial institutions. In recent years, a large number of village banks and small loan companies have been established one after another. However, due to factors such as lack of credit and geographical dispersion, small and micro groups face a huge gap in financial services. According to data released by the World Bank in January this year, the financing gap of China's small, medium and micro enterprises reached 12 trillion yuan, and nearly 80% of the financing needs of micro enterprises have not been met.
In 2014, private banks were approved for pilot projects, and one of their major missions is to make up for the shortcomings of traditional financial institutions’ services. However, according to the current market conditions, for many institutions, including some private banks, the profit points of small and micro financial business are concentrated on personal consumption loans. From the 2017 annual report disclosed by MYbank, we can see some explorations by private banks in solving the financing process of small and micro enterprises.
Annual report data shows that in 2017, MYbank issued a total of 446.8 billion yuan in loans to small and micro operators, of which 26.45 billion yuan was issued to rural users. "Small and micro", "rural areas" and "various small and medium-sized financial institutions" are listed as the three major service directions by MYbank. Judging from the annual report data, the business targeting these groups is experiencing a period of rapid growth.
MyBank’s 2016 annual report disclosed that at that time, it had issued a total of 87.9 billion yuan in loans to small and micro enterprises. The corresponding number of small and micro enterprise customers was 2.77 million, and the average loan balance per household was approximately 15,000 yuan. As of the end of 2017, MYBank has provided loan services to 5.71 million small and micro enterprises and self-employed individuals, with the average loan balance per household reaching 28,000 yuan. Among them, 750,000 rural users are also included, and agricultural-related loans account for 11.9% of the loan balance of MYbank. In just one year, the number of small and micro merchants provided by MYbank has more than doubled.