Is Industrial Bank preparing to set up Jiujiang Branch?

On June 17, sources revealed that Industrial Bank (60 1 166. SH) Signed a strategic cooperation agreement with Jiujiang City Commercial Bank (hereinafter referred to as "Jiujiang City Commercial Bank") in June of 14, and the net asset value of Jiujiang City Commercial Bank at the end of 2007 did not exceed 1.93 times.

"The strategic cooperation agreement was signed in Jiujiang, Jiangxi, by Li Renjie, President of Industrial Bank, and Liu Xianting, Chairman of Jiujiang Commercial Bank." The source said.

According to its disclosure, Jiujiang Commercial Bank's capital increase and share expansion plan includes Industrial Bank holding 20% shares, and plans to increase its registered capital by 200 million yuan at the price of 2.9 yuan/share. After the completion of capital increase and share expansion, the paid-in capital of Jiujiang Commercial Bank will exceed 500 million yuan.

The shareholding amount is nearly 300 million yuan.

"After the Industrial Bank shares, it will become the second largest shareholder of Jiujiang Commercial Bank in one fell swoop, and the first largest shareholder is still Jiujiang Finance Bureau." The aforementioned sources said.

According to the data, Jiujiang Commercial Bank officially opened on June 5,438+065,438+10/8, 2000, with an existing registered capital of 300,000/kloc-0.96 million shares, of which Jiujiang Finance holds 63 million shares, accounting for 20.26%, and private enterprises hold a total of 22,902.52.

Based on this calculation, after the capital increase and share expansion of Jiujiang Commercial Bank, the number of shares corresponding to the 20% share participation of Industrial Bank is 100392000 shares, and the shareholding amount is 29 1 136800 yuan.

"Jiujiang Commercial Bank will become an important platform for Industrial Bank to cooperate with banks and enterprises in the central region," the above-mentioned person said. "At present, Jiujiang Commercial Bank has exceeded the 10 billion mark and entered the sequence of commercial banks in medium cities."

More importantly, Jiujiang Commercial Bank has started cross-regional operation, with outlets in Jiujiang, Ruichang, De 'an, xiushui county, Yongxiu, Jiujiang, duchang county and Lushan, Jiangxi Province, and is ready to open branches in Wuning County.

Jiujiang Commercial Bank also initiated the establishment and controlled the first village bank in Jiangxi Province-Jiangxi Xiushui Jiuyin Village Bank at the end of 2007. The bank is located in Yining Town, xiushui county, with a registered capital of150,000 yuan. Jiujiang Commercial Bank contributed 7.65 million yuan, accounting for 565,438+0% of the registered capital, and another 65,438+03 companies contributed shares.

Recently, Jiujiang Commercial Bank also participated in the subscription of 6 million shares of China UnionPay, which is still under examination and approval.

Previously, Li Renjie, president of Industrial Bank, publicly praised the business structure of Jiujiang Commercial Bank, saying that the business structure of Jiujiang Commercial Bank is 20% for local public utilities, 40% for microfinance and 40% for retail, which is "very good for city commercial banks, and ROE and ROA are not inferior to big banks".

At the end of 2007, Jiujiang City Commercial Bank had total assets of 8.6 billion yuan and total profits of 65.438+0.65438+0.609 million yuan, an increase of 70.77 million yuan or 65.438+0.20.5%. The capital adequacy ratio was 65,438+03.5%, an increase of 2.55 percentage points over the end of last year; The non-performing loan ratio is 0.67%; The number of cases in loan-to-deposit ratio at the end of the year was 59.29%. However, in the debt structure at the end of the year, deposits accounted for 87.82% and securities repurchase financing accounted for 8.78%, indicating that its sources of funds are still mainly deposits and bond financing.

According to the regulatory rating results of national city commercial banks published by China Banking Regulatory Commission in 2007, Jiujiang Commercial Bank was rated as Class II (Class I vacancy) for the first time, ranking 14 among the comprehensive regulatory rating of national city commercial banks, and the only one among the four city commercial banks in Jiangxi.

Plan to go public next year

"Jiujiang Commercial Bank began the feasibility study of introducing strategic investors two years ago, with the aim of improving management level and launching new financial products, not just for financing." The aforementioned people said that the introduction to Industrial Bank focused on its risk management level and its leap-forward development experience from local banks, regional banks, national banks to listed public banks.

Another reason is to increase the share capital and optimize the ownership structure. Last year, Jiujiang Commercial Bank increased its capital and shares, and the paid-in capital increased by/kloc-0.09 million yuan.

"After the Industrial Bank shares, it will serve as a strategic investor to improve the business development level of Jiujiang Commercial Bank, and the next expansion will focus on the central region." The above-mentioned person said, "The goal of Industrial Bank is not only Jiujiang Commercial Bank, but also city commercial banks and rural credit cooperatives that expand their destinations."

Previously, Industrial Bank has reset the acquisition of Foshan Commercial Bank to Foshan Branch, and established Industrial Harbin Branch through the acquisition of Xingtong Urban Credit Cooperative in Tonghe County, Harbin.

"At the same time, the establishment of new institutions and shareholding mergers and acquisitions are the main directions for Industrial Bank to achieve rapid expansion of its banking network and business scale." The above-mentioned person said.

In addition, the goal of Industrial Bank to move towards a financial holding group is also accelerating. After NGAM and Jianfa (600 153) set up a joint venture fund management company with 57% shares, SH) plans to set up a financial leasing company in Tianjin with a registered capital of 2 billion yuan.

This time, the wishful thinking of Industrial Bank lies in the listing prospect of Jiujiang Commercial Bank.

"Jiujiang Commercial Bank is planning to change its name and plans to go public in China next year." The above-mentioned person said.

According to its disclosure, Jiujiang Commercial Bank has hired Debon Securities to start various listing counseling work.

Jiujiang Commercial Bank's annual report in 2007 also revealed that Jiangxi Tianhua Certified Public Accountants was employed by Zhong Lei Certified Public Accountants because it did not have the qualification of securities audit.

According to the business agreement signed between Jiujiang Commercial Bank and Zhong Lei Certified Public Accountants, this audit will audit the statements from 2006 to 2008 according to the new accounting standards, and make a simulation report for the full implementation of the new accounting standards to measure the accounting data after the implementation of the new accounting standards. At the same time, internal control audit and special tax review will be conducted to audit the compliance of various businesses, laying the foundation for the next listing.

The introduction of Industrial Bank indicates that Jiujiang Commercial Bank, as the only local financial enterprise, is basically ready for its domestic public listing.