Zhongxin Finance, March 28 (Gong Hongyu) The former chairman of this bank with assets exceeding 500 billion yuan was investigated, and he just resigned more than a month ago.
On March 25, according to the Jiangxi Provincial Commission for Discipline Inspection and Supervision, Chen Xiaoming, the former Secretary of the Party Committee and Chairman of Jiangxi Bank Co., Ltd., was suspected of serious violations of discipline and law, and is currently under disciplinary review and supervision by the Jiangxi Provincial Commission for Discipline Inspection and Supervision.
Subsequently, the official website of Bank of Jiangxi announced the decision of the Bank of Jiangxi Party Committee to firmly support the disciplinary review and supervision investigation of Chen Xiaoming, expressing its full cooperation with the Provincial Commission for Discipline Inspection and the Provincial Supervision Commission on Chen Xiaoming's suspected serious violation of discipline and law. related work.
At the helm of Jiangxi Bank for more than 6 years, he just resigned in February
On February 22, Jiangxi Bank, a Hong Kong-listed company, announced that Chairman Chen Xiaoming submitted a written resignation letter to the board of directors on February 21, resigning as executive director, chairman, member of the strategy committee and chairman of the board of directors due to personal reasons. No longer hold any position in the Bank.
On March 25, Jiangxi Bank's supplementary announcement on the resignation of the chairman.
Chen Xiaoming was the first chairman of Jiangxi Bank after its establishment.
Chen Xiaoming has been at the helm of the bank for more than 6 years since he became the chairman in 2015, and was awarded the "National May 1st Labor Medal" by the All-China Federation of Trade Unions in 2017.
Previously, in the "Jiangxing News" column of the official website of Jiangxi Bank, on January 17 this year, news about Chen Xiaoming's attendance at the relevant meeting was also released.
Jiangxi Bank's 2020 salary distribution information disclosure announcement shows that Chen Xiaoming's 2020 pre-tax salary is 1.935 million yuan (excluding insurance, provident fund, etc.).
During his tenure as chairman, Jiangxi Bank went public in Hong Kong
According to public information, Chen Xiaoming was born in November 1966. In 1988, he obtained a bachelor's degree in infrastructure finance and credit from Jiangxi University of Finance and Economics (now known as Jiangxi University of Finance and Economics), and in June 2008, he obtained a doctorate in industrial economics from Jiangxi University of Finance and Economics.
After graduation, Chen Xiaoming has been working in the banking industry.
He joined China Construction Bank Nanchang Branch in 1988 and served as a member of the Party Committee and Vice President of China Construction Bank Jiangxi Nanchang Branch; in 1999, he served as Deputy General Manager of the Sales Department of China Construction Bank Jiangxi Branch, and then was promoted to CCB General Manager of Planning and Finance Department of Jiangxi Branch.
In 2006, Chen Xiaoming joined Nanchang City Commercial Bank and served as deputy secretary of the party committee, president and vice chairman of the bank. In 2008, the bank was renamed Nanchang Bank. Chen Xiaoming continued to serve as president and was promoted to party secretary and chairman in early 2012. , and concurrently serve as President.
In December 2015, Nanchang Bank merged with Jingdezhen Bank, changed its name to Jiangxi Bank, and introduced Jiangxi Communications Investment Group Co., Ltd., Jiangxi Financial Holding Group Co., Ltd. and other shareholders through targeted capital increase and share expansion.
As the chairman of Nanchang Bank at the time, Chen Xiaoming became the chairman of Jiangxi Bank in December 2015 and continued until February this year.
When Chen Xiaoming was at the helm of Jiangxi Bank, in June 2018, Jiangxi Bank was listed on the Hong Kong Stock Exchange, becoming the first listed financial company in Jiangxi Province.
According to the 2021 annual report of Bank of Jiangxi, at the end of 2021, the total assets of Bank of Jiangxi have just exceeded 500 billion yuan.
Data map: On June 26, 2018, Jiangxi Bank was officially listed on the main board of the Hong Kong Stock Exchange.
The figure on the right is Chen Xiaoming.
Photo by Haotian
Jiangxi Bank's performance has been unstable in recent years, and the non-performing loan ratio of real estate has risen
As of December 31, 2021, the total assets of Jiangxi Bank were 508.560 billion yuan.
In 2021, the bank's operating income will increase by 8.4% to 11.14 billion yuan, and the net profit attributable to shareholders for the year will increase by 11.4% year-on-year to 2.07 billion yuan.
Judging from the time in recent years, the performance of Jiangxi Bank has not been stable.
From 2018 to 2020, the profitability of Jiangxi Bank continued to decline. The net profit attributable to the parent was 2.734 billion yuan, 2.051 billion yuan and 1.859 billion yuan respectively, with year-on-year growth rates of -4.6%, -24.98% and -9.34% respectively.
The net profit attributable to the parent company in 2021 has not recovered to the level of 2018.
Jiangxi Bank's non-performing loan ratio has also been high in recent years.
At the end of 2021, the non-performing loan ratio of Jiangxi Bank was 1.47%, which is the best level since the bank was established in 2015.
According to data from the China Banking and Insurance Regulatory Commission, in the first three quarters of 2021, the non-performing loan ratios of Jiangxi's banking industry were 1.17%, 1.17%, and 1.22%, respectively.
Jiangxi Bank's non-performing loan ratio is still higher than the banking industry average.
Jiangxi Bank's 2021 annual report shows that last year, the growth rate of Jiangxi Bank's loans was 13.4 percentage points higher than the growth rate of assets, and the proportion of loans in total assets rose significantly to 54.6%.
In addition, its 2021 semi-annual report shows that the non-performing loan ratio of its real estate industry is relatively high. The loan amount of the real estate industry is 8.998 billion yuan, and the non-performing loan amount is 293 million yuan. The non-performing loan ratio increased by 1.35 points from 1.9% at the end of 2020. percentage points to 3.25%.
As of the close on March 25, the Hong Kong stock price of Jiangxi Bank closed at HK$1.66, falling to HK$1.44 during the session, down 1.19% on the day.
Jiangxi Bank Hong Kong stock market chart.
The president was dismissed last year, and the new president is from the Jiangxi Provincial Local Financial Supervision Bureau
It is worth mentioning that Jiangxi Bank just welcomed a new president in January 2022.
On January 10, Jiangxi Bank announced that the board of directors reviewed and approved the appointment of Luo Xiaolin as the bank's executive director on the same day.
At the same time, the board of directors passed a resolution to appoint Luo Xiaolin as the president of Jiangxi Bank.
Luo Xiaolin served as the president of Jiangxi Bank, and the former deputy director of the Jiangxi Provincial Local Financial Supervision Bureau.
Before Luo Xiaolin became the president of Jiangxi Bank, the last official president of Jiangxi Bank was Luo Yan, but Luo Yan was dismissed on October 15, 2021.
On October 15, 2021, Jiangxi Bank issued an announcement stating that after consideration and assessment by the board of directors, because the management style and philosophy are not completely consistent with the bank's business development and actual needs, considering the overall best interests of the bank and shareholders, it is recommended to remove the Luo Yan took the post of director, removed the vice chairman, member of the strategy committee of the board of directors, member of the remuneration and nomination committee, and dismissed the president.
The then chairman Chen Xiaoming acted as president until the appointment of the new president took effect.
The announcement at the time also pointed out that Luo Yan objected to his removal from the above-mentioned positions.
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