The first bank without a meeting was born.
The official website of the CSRC recently announced that Jiangsu Dafeng Rural Commercial Bank (hereinafter referred to as “Dafeng rural commercial bank”) launched its first meeting on April 14. When the market speculated whether the bank with the smallest A-share size would be born, the audit results announced by the development and Examination Commission on the same day showed that the bank failed to pass the initial meeting. It is worth noting that Dafeng rural commercial bank failed to pass the initial meeting, setting the record of the first meeting of the banking department.
If the meeting goes smoothly, Dafeng rural commercial bank may become the 43rd A-share listed bank and the 10th listed bank in Jiangsu Province, which may become the “most pocket listed bank” in history. In fact, Dafeng rural commercial bank submitted IPO materials in November 2017. After the pre disclosure update in May 2018, it waited a long time.
“I don’t know if other banks lining up for IPO will be affected.” Insiders told the Chinese reporter of securities companies that they were also surprised by the banks that had not been in the first meeting. At present, the asset scale of several rural commercial banks still lining up for IPO is also small, which will still affect the risk tolerance to a great extent, “unless they are really small and beautiful, that is, they are small but good enough and distinctive”
not started
On April 14, the 43rd issuance examination committee meeting of the 18th Issuance Examination Committee of the CSRC in 2022 was held. The examination results of the public meeting on that day showed that there were three entities to be listed to participate in the examination, of which only Dafeng Rural Commercial Bank (initial) failed, and the sponsor was China Merchants Securities Co.Ltd(600999) .
securities company Chinese reporter noted that according to the key points of questions in the audit process of the development and Examination Committee of the CSRC, in addition to the questions about the specific business content of bank statements, the following points can be summarized:
first, the bank’s cross regional exhibition industry and how to enhance its core competitiveness have been focused on
As a regional agricultural firm, Dafeng agricultural firm’s customers are mainly concentrated in Dafeng District, Yancheng City. Under the current regulatory policies and regional economic development trend of cross regional exhibition of rural commercial banks, Dafeng rural commercial bank was asked whether it has a more comprehensive competitiveness and what measures will be taken to improve its core competitiveness.
The CSRC pointed out that the net interest margin and net interest rate of Dafeng rural commercial bank are lower than the average level of comparable companies in the same industry. Under the continuous downward trend of China’s interest rate, how to maintain sustainable profitability and improve anti risk ability is also an issue that Dafeng rural commercial bank needs to explain to the regulator.
second, the quality of assets and the implementation and compliance of internal control such as loan migration and personal deposit solicitation
Also based on the consideration of the impact of external factors such as regional economic operation and covid-19 epidemic, Dafeng rural commercial bank was asked about the impact of the above factors on asset quality. In addition, the bank’s five level classification implementation procedures, the implementation of internal control measures such as credit and deposit solicitation were also asked.
third, it is inextricably linked with Jiangsu Provincial associated press
Due to the supervision of Jiangsu Associated Press, and the core system is developed, constructed and operated by Jiangsu Associated Press, Dafeng rural commercial bank was asked about the management relationship with Jiangsu Associated Press, including the composition of board members, senior management appointment, daily supervision, operation management, risk management and other responsibilities and management. In addition, the investment and capital exchanges between the two sides were also asked.
accompany running for 4 years
Just last week, the development and Examination Commission issued the announcement of the 43rd working meeting in 2022, in which “Jiangsu Dafeng Rural Commercial Bank Co., Ltd. (initial)” was prominently listed as the audited issuer. After that, the market once discussed whether the A-share will usher in the first bank to attend the meeting this year.
if the meeting goes well, Dafeng rural commercial bank may become the 43rd A-share listed bank and the 10th listed bank in Jiangsu Province, which will become the “most pocket bank” in history. In fact, Dafeng rural commercial bank submitted IPO materials in November 2017. After the pre disclosure update in May 2018, it waited a long time
According to the prospectus, Dafeng rural commercial bank plans to be listed on the Shenzhen Stock Exchange, and the number of shares to be issued shall not be less than 10% (including 10%) of the total share capital after issuance, and shall not exceed 25% (including 25%) of the total share capital after issuance. After deducting the issuance expenses, all the funds raised by the issuance will be used to enrich the capital, so as to improve the capital adequacy level and enhance the comprehensive competitiveness.
As a county-level rural commercial bank in Dafeng District, Yancheng City, Jiangsu Province, Dafeng rural commercial bank was established on November 26, 2011 with regulatory approval. Its predecessor was the rural credit cooperative more than 60 years ago. It was operated by a unified legal person in 2001, established a rural cooperative bank in 2005 and restructured into a rural commercial bank in 2011.
According to the performance of Dafeng rural commercial bank in 2021, the bank achieved an operating revenue of 1.333 billion yuan last year, an increase of 5.87%; The net profit was 573 million yuan, a year-on-year increase of 63 million yuan, an increase of 12.33%. At the end of the year, the bank’s non-performing loan balance was 381 million yuan, with a non-performing rate of 1.07%, a decrease of 0.03 percentage points over the beginning of the year. In terms of asset scale, at the end of 2021, the total assets of Dafeng rural commercial bank reached 53.975 billion yuan.
some insiders told reporters that the scale also affects the risk tolerance of banks to a certain extent. In fact, if the meeting passes smoothly, Dafeng rural commercial bank will have the opportunity to become the “most pocket listed bank” in history
It is worth noting that Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co.Ltd(601528) , the bank with the smallest asset scale among the A-share listed banks, had a total asset scale of 136868 billion yuan last year and realized an operating revenue of 3.31 billion yuan, a year-on-year increase of 10.02%; The net profit attributable to the parent company was 1.271 billion yuan, a year-on-year increase of 15.08%.
Jiangsu Listed Small and medium-sized banks are active
For a long time, banks have played an indispensable role as an important force for financial empowerment of local real economy. Deep rooted in the most dynamic areas of China’s economy, many small and medium-sized banks have also become an important financial force to serve the local regional economy. Jiangsu Province also has the most listed small and medium-sized banks in China.
At present, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province has nine listed banks, among which there are three urban commercial banks and six rural commercial banks, among which there are nine listed banks, among which there are three urban commercial banks and six rural commercial banks, among which there are three urban commercial banks and six rural commercial banks, among which there are currently nine listed banks, among which there are currently nine listed banks, among which there are nine listed banks, among which there are now nine listed banks in Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province, Jiangsu Province currently has nine listed banks, among which there are three urban commercial firms and six rural commercial banks, six agricultural commercial banks, among which are three urban commercial firms and six rural commercial banks, respectively: Lingyi Itech (Guangdong) Company(002600) 80809for the and Bank Of Suzhou Co.Ltd(002966) . Among them, Jiangsu Zijin Rural Commercial Bank Co.Ltd(601860) and Bank Of Suzhou Co.Ltd(002966) were both successfully listed in 2019, and Dafeng agricultural and commercial bank is still in line here.
In addition to Dafeng rural commercial bank, there are 10 banks lining up for IPO, all of which are in the state of pre disclosure and update. Among them, rural commercial banks are Jiangsu Hai’an rural commercial bank, Jiangsu Kunshan rural commercial bank, Bozhou Yaodu rural commercial bank, Anhui Ma’anshan rural commercial bank, Guangdong Nanhai rural commercial bank and Guangdong Shunde rural commercial bank. Among them, there is still more than one from Jiangsu.
“I don’t know if other banks lining up for IPO will be affected.” Insiders told the Chinese reporter of securities companies that the current asset scale of several rural commercial banks in line is also small, which will still greatly affect their risk tolerance, “unless they are really small and beautiful, that is, they are small but good enough and distinctive”.
