Associated Press, June 19 (reporter Peng Kefeng) At a time when many financial institutions are shrinking, some banks still choose to expand against the trend.
On the evening of June 18, the listed bank Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co., Ltd. (hereinafter referred to as Concord Bank ）The announcement said that recently, the Bank continued to acquire 26932478 shares held by some legal person shareholders of Zhejiang Cangnan Rural Commercial Bank Co., Ltd. (hereinafter referred to as Cangnan Rural Commercial Bank) by auction, accounting for 2.58% of the total equity of Cangnan Rural Commercial Bank. Up to now, the above investment has been reported to the banking regulatory authority, and the stock delivery has been completed. The Bank is now the major shareholder holding 7.58% of the shares of Cangnan Rural Commercial Bank.
In this regard, an analyst in the banking industry of a securities firm told the Associated Press of Finance that as a listed bank, Ruifeng Bank's management system is naturally more standardized and its capital strength is stronger than that of local small agricultural commercial banks. In the context of the current emphasis on resolving the risks of small and medium-sized financial institutions, it is a good choice for listed banks to invest in some rural financial institutions with obvious regional advantages but dispersed equity.
Layout: Ruifeng Bank became the major shareholder of Cangnan Rural Commercial Bank for nearly one year
According to the introduction of Ruifeng Bank, on August 22, 2023, the 15th meeting of the fourth board of directors of the bank reviewed and approved the proposal of "Investing in Zhejiang Cangnan Rural Commercial Bank Co., Ltd.", and agreed to transfer the total shares of Cangnan Rural Commercial Bank by agreement, auction, etc., and the total amount of shares transferred to it should not exceed 9.8% of its total share capital, The final subscription matters and subscription amount shall be subject to the approval of the banking regulatory authority.
On December 14 last year, Ruifeng Bank completed the transfer of 49726506 shares held by some legal shareholders of Cangnan Rural Commercial Bank through auction of shares (after Cangnan Rural Commercial Bank distributed bonus shares in 2023, this part of shares increased to 52212831 shares), accounting for 5.0009% of the total share capital of Cangnan Rural Commercial Bank
It is reported that Ruifeng Bank has held 7.58% of the shares of Cangnan Rural Commercial Bank after recently acquiring the shares of Cangnan Rural Commercial Bank through auction.
Ruifeng Bank also said that in recent years, Cangnan Rural Commercial Bank has been operating well and its profitability is relatively stable. Ruifeng Bank will continue to carry out all-round and in-depth cooperation with Cangnan Rural Commercial Bank by investing in shares, give full play to synergy, realize resource sharing, fully support regional economic development, and jointly achieve high-quality development.
Cangnan Rural Commercial Bank is currently decentralized
Today, according to the information of Aiqi, Cangnan Rural Commercial Bank's equity is extremely dispersed. Wenzhou Zhejiang Fujian Logistics Center Development Co., Ltd. is the largest shareholder, with a shareholding ratio of 5.00168%. Zhejiang Qiangmeng Industrial Co., Ltd. is the second largest shareholder with a shareholding ratio of 5.00168%. The remaining shareholders are all below 5%. This means that according to Aiqicha's information, Ruifeng Bank will become the largest shareholder with 7.58% shareholding ratio.
According to the related party transaction information released on the official website of Cangnan Rural Commercial Bank last July, Wenzhou Zhemin Logistics Center Development Co., Ltd. holds 49726506 shares of the Bank, accounting for 5.0009%, and is a related party of the Bank; Wenzhou Furui Automobile Sales Service Co., Ltd. is an affiliated enterprise of Wenzhou Zhejiang Fujian Logistics Center Development Co., Ltd. This information is basically consistent with the data of Aiqicha.
In addition, by the end of 2023, Cangnan Rural Commercial Bank had total consolidated assets of 62.979 billion yuan, total liabilities of 56.364 billion yuan, net assets attributable to shareholders of the parent company of 6.149 billion yuan, deposit balance of 45.451 billion yuan, loan balance of 43.611 billion yuan, non-performing loan ratio of 0.78%, and provision coverage of 639.54%.
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