Home Business Another provincial rural commercial bank is preparing to form a rural credit cooperative reform and press the “accelerator button”_Finance_China Net

Another provincial rural commercial bank is preparing to form a rural credit cooperative reform and press the “accelerator button”_Finance_China Net

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Another provincial rural commercial bank is preparing to form a rural credit cooperative reform and press the “accelerator button”_Finance_China Net

The reform of Rural Credit Cooperatives is accelerating, and another provincial Rural Commercial Bank will be established. The Liaoning Provincial Rural Commercial Bank Preparatory Working Group recently issued an announcement stating that Shenyang Rural Commercial Bank and 30 rural credit cooperatives in the province have established a Liaoning Provincial Rural Commercial Bank. The banks currently participating in the formation have completed their internal corporate governance procedures.

Since the beginning of this year, the reform of rural credit cooperatives has pressed the “accelerator button”. According to analysts, the reform of rural credit cooperatives is one of the key points of banking reform in recent years, and the reform of provincial cooperatives has become the top priority of the reform of rural credit cooperatives. It is expected that the subsequent provinces will promote the reform of provincial associations in accordance with the principle of “one province, one policy”.

Another provincial rural commercial bank is preparing to be established

A provincial agricultural commercial bank is about to be born in Liaoning Province. Recently, the Liaoning Provincial Rural Commercial Bank Preparatory Working Group issued an announcement in the “Liaoning Daily” stating that Shenyang Rural Commercial Bank and 30 rural credit cooperatives in the province have established a Liaoning Provincial Rural Commercial Bank. Including but not limited to hiring an intermediary agency to carry out asset verification and asset evaluation, disposal of net assets, etc., and handling other matters related to the establishment of Liaoning Province Rural Commercial Bank. At present, Shenyang Rural Commercial Bank has completed internal corporate governance procedures with 30 rural credit cooperatives, reviewed and passed relevant matters and formed resolutions.

According to the announcement, after the establishment, all claims and debts of Shenyang Rural Commercial Bank and 30 rural credit cooperatives will be undertaken by Liaoning Provincial Rural Commercial Bank. The operating profit and loss of Shenyang Rural Commercial Bank and 30 Rural Credit Cooperatives from the base date of assets and capital verification (that is, September 30) to the opening of Liaoning Provincial Rural Commercial Bank will be shared and borne by all shareholders of Liaoning Provincial Rural Commercial Bank after its establishment.

A reporter from Beijing Business Daily noticed that Shenyang Rural Commercial Bank, one of the participating banks, absorbed and merged Liaoyang Rural Commercial Bank and Taizihe Rural Bank in the province in July this year. The two merged banks had previously changed their names to Shenyang Rural Commercial Bank. Liaoyang Branch. On August 26, the China Banking and Insurance Regulatory Commission issued a reply announcement, agreeing in principle to Liaoyang Rural Commercial Bank and Taizihe Rural Bank to enter bankruptcy proceedings.

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Regarding the authenticity and impact of participating in the establishment of Liaoning Provincial Rural Commercial Bank, on November 28, a reporter from Beijing Business Daily learned from relevant persons in Shenyang Rural Commercial Bank that the establishment of Liaoning Provincial Rural Commercial Bank by Shenyang Rural Commercial Bank and 30 rural credit cooperatives in the province is true. , after the establishment of a provincial-level rural commercial bank, the business will be more comprehensive. Liaoyang Rural Commercial Bank and Taizihe Village Bank have been merged into Shenyang Rural Commercial Bank before. After the establishment of a provincial-level rural commercial bank, the two banks will also be assigned to Liaoning Provincial Rural Commercial Bank There will be no impact on the build process.

According to the official website of Liaoning Rural Credit Cooperative Union, at present, the provincial union has 20 departments, 6 regional audit centers, 12 municipal liaison service offices, 2 municipal agricultural commercial banks in Shenyang and Dalian, and 28 counties. Rural commercial banks and 30 county-level credit unions. This also means that after the Shenyang Rural Commercial Bank and 30 rural credit cooperatives in the province form the Liaoning Provincial Rural Commercial Bank, the reform of the Provincial Association of Liaoning Province will be promoted.

According to Yu Baicheng, director of Zero One Research Institute, the reform of rural credit cooperatives is one of the key points of banking reform in recent years. The top priority of the reform of rural credit cooperatives. In the context of the risk exposure of some rural credit cooperatives and the increasing importance of risk prevention and control of the rural credit cooperatives, the reform plan of provincial cooperatives has been significantly accelerated.

Reform of Rural Credit Cooperatives Accelerated

Since the beginning of this year, the reform of rural credit cooperatives has pressed the “accelerator button”, and the reform of provincial associations is becoming the focus of a new round of reform of rural credit cooperatives. At present, the industry’s discussion on the reform of provincial associations mainly focuses on four models, namely the unified legal person model, the financial service company model, the financial holding company model, and the joint bank model.

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Yu Baicheng said that Liaoning Provincial Rural Commercial Bank was established by Shenyang Rural Commercial Bank and 30 rural credit cooperatives in the province, and all claims and debts of Shenyang Rural Commercial Bank and 30 rural credit cooperatives were undertaken by Liaoning Provincial Rural Commercial Bank. The model adopted by the commercial bank shall belong to the unified legal person model.

In addition to the unified legal person model, the United Bank model has become more common this year. Before Liaoning Provincial Rural Commercial Bank, according to “Henan Daily”, the reform plan of Henan Rural Credit Cooperatives has been approved by the China Banking and Insurance Regulatory Commission. Through the establishment of Henan Rural Commercial Bank, it will straighten out the ownership structure from top to bottom and improve corporate governance.

The representative of the United Bank model is Zhejiang Rural Commercial United Bank. In April this year, the Zhejiang Banking and Insurance Regulatory Bureau approved the opening of Zhejiang Rural Commercial United Bank, marking the official implementation of the “first order” to deepen the reform of rural credit cooperatives across the country. According to the approval, on the day of the opening of Zhejiang Rural Commercial United Bank, the former Zhejiang Rural Credit Cooperative Union will terminate itself, and the creditor’s rights and debts will be assumed by the bank.

The United Bank model is composed of rural credit institutions in the whole province as shareholders, and local rural credit cooperatives still retain their independent legal personality. Yu Baicheng believes that if the business development of rural commercial banks in this province is relatively healthy and mature, it is more appropriate to adopt the United Bank method, which is conducive to the development advantages of each bank and lower reform costs.

According to the official website of Zhejiang Rural Commercial United Bank, at present, the bank system has jurisdiction over 82 county (city, district) rural commercial banks and rural credit unions, with more than 4,100 outlets. As of the end of March 2022, the balance of various deposits in the system was 3,380.9 billion yuan, and the balance of various loans was 2,583.8 billion yuan.

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In October 2021, the relevant person in charge of the China Banking and Insurance Regulatory Commission stated at a press conference held by the State Council Information Office that the China Banking and Insurance Regulatory Commission will adhere to the original intention of rural credit services for “agriculture, rural areas and farmers” and take improving the overall development capabilities of the rural credit system as the basis for reform , focusing on deepening the reform of provincial associations and improving the risk prevention and control capabilities of the Rural Credit System, in accordance with the principles of adapting measures to local conditions and “one province, one policy”, while fully considering the differences between different regions in the east, middle and west, to contribute to rural revitalization and Common Wealth provide strong financial support, and revealed that most provinces have submitted plans to deepen rural credit reform.

Regarding the trend and suggestions for the reform of rural credit cooperatives in the future, Zhou Maohua, an analyst at the Financial Market Department of Everbright Bank, said that from the perspective of past cases and the high-quality development of financial institutions, the reform of rural credit cooperatives is developing in the direction of modern joint-stock banks. Promoting the reform of the marketization and legalization of rural credit cooperatives will help to straighten out the equity structure, improve internal governance, resolve risks from the source, improve operating efficiency, and promote the healthy and sustainable development of rural credit cooperatives. The principle of “policy” promotes the reform of provincial associations.

(Editor in charge: Wang Qingyu)

Disclaimer:The purpose of reprinting this article by China Net Finance is to convey more information, and it does not represent the views and positions of this website. Article content is for reference only and does not constitute investment advice. Investors operate accordingly at their own risk.

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