China News Service, Chengdu, January 5 (Wang Jue Yan Xinyi) At the end of the year, Chengdu Rural Commercial Bank, which was sprinting for listing, was once again pushed to the forefront due to a long list of fines from the regulatory authorities.
On the last day of 2021, the official website of the Sichuan Banking and Insurance Regulatory Bureau reported that two huge fines against Chengdu Rural Commercial Bank were fined a total of 11.3 million yuan; 14 fines against relevant persons in charge of the bank, with a cumulative fine of 270 Ten thousand yuan, and be punished with warnings, cancellation of senior management qualifications for five years, and prohibition from engaging in banking work for life.
The decision of the relevant administrative office.
According to the official website of Sichuan Banking and Insurance Regulatory Bureau
A decision of the administrative office of "Chuanyin Insurance Regulatory Punishment No. [2020] No. 45" shows that Chengdu Rural Commercial Bank did not have administrative permission due to the equity change; it did not conduct due diligence and accepted transferees who did not meet the requirements for equity participation as shareholders; violations of regulations Carrying out major related-party transactions and illegally implementing credit granting; carrying out non-standard business in violation of regulations; failing to provide or timely providing inspection materials, hindering the inspection and supervision of supervisory agencies; internal control failure and fines of up to 11 million yuan.
Another "Chuanyin Insurance Regulatory Punishment No. [2020] No. 123" administrative penalty decision document shows that Chengdu Rural Commercial Bank violated the regulations to purchase periodic principal-protected wealth management issued by other banks due to pre-investment investigations, risk review and approval of inadequate duties. The product caused the other bank’s self-operated investment to be uncleanly released, seriously violating the prudent operation rules, and was fined 300,000 yuan.
The penalties for the two fines were decided on March 31, 2020 and August 20, 2020, which were before and after the equity disposal of Chengdu Rural Commercial Bank and the change of high-level coaches.
Public information shows that Chengdu Rural Commercial Bank is a joint-stock commercial bank restructured from Rural Credit Cooperatives. It was formerly known as Chengdu Rural Credit Cooperatives and opened for business on January 15, 2010.
In the second year of the bank’s opening, the Anbang Group was introduced to increase capital and shares. After that, the "Anbang Group" held 35% of the bank's shares and became the largest shareholder.
However, as the Anbang Group’s East Window incident occurred in February 2018 and was taken over by the regulatory authorities, Chengdu Rural Commercial Bank was once in a dilemma.
Until 2020, Anbang Group will publicly transfer its 35% shares of Chengdu Rural Commercial Bank, and Chengdu Xingcheng Investment Group, as the share transferee, obtained shareholder qualification approval from the Sichuan Banking and Insurance Regulatory Bureau in April of that year; in addition, As the transferee of 2.05 billion shares of Chengdu Rural Commercial Bank held by Shanghai Wenjun Investment Co., Ltd. and other ten companies, Chengdu Wuhou Industrial Development Investment Management Group and Chengdu High-tech Investment Group also obtained Sichuan Bank Insurance in June 2020. Approval of shareholder qualifications of the Supervision Bureau.
At this point, it means that the shares of Chengdu Rural Commercial Bank held by Anbang Group have been completely disposed of.
In addition, the former state-owned enterprise shareholder Chengdu Jiaozi Financial Holding Group holds 9.81% of the shares, and the top four shareholders of the bank have all become Chengdu state-owned enterprises, with a total shareholding ratio of more than 65%.
As the dust settled on the equity change, Chengdu Rural Commercial Bank also ushered in adjustments in June 2020: Liang Qizhou, Secretary of the Party Leadership Group and Director of Chengdu Local Financial Supervision and Administration Bureau, served as Party Secretary of Chengdu Rural Commercial Bank, and Huang Jianjun, Former Vice President of Chengdu Bank Serve as the president of the bank.
On December 20, 2021, information on the official website of Chengdu Rural Commercial Bank showed that the bank’s recruitment of an A-share IPO sponsor (lead underwriter) for procurement projects has completed the bidding, and CITIC Securities has become the selected supplier and will be responsible for the application for the A-share listing of Chengdu Rural Commercial Bank. The listing guidance, sponsorship, continuous supervision and other work in the whole process of listing, the bank officially opened the road to listing.
Unexpectedly, in this cold winter, 10 days later, the supervisory authority notified the multiple violations and heavy penalties, which cast a cold fog on Chengdu Rural Commercial Bank, which was sprinting for listing.
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