Behind Ningbo Bank of Ten Millions of tickets, how does the extension strategy continue?

Produced | WEMONEY Research Room

Wen | Liu Shuangxia

Zhang Kun, 100 billion, investigated Bank of Ningbo at the end of May, and well -known fund managers Yi Fangda Feng Bo and Zhang Shengji also participated in the survey. Another investigation by Bank of Ningbo in May also attracted Yinhua Fund Jiao Wei and Ruiyuan Fund Zhao Feng.

As one of the most watched bank stocks in the A -share market, Bank of Ningbo received 448 investigations in 2021. In the 25 years since the establishment of Bank of Ningbo, from the loss of 1.6 billion to the annual net profit of over 19 billion yuan, it has successfully entered the club of 2 trillion yuan in total assets, becoming one of the important city commercial banks of 4 systems, with a market value of over 200 billion yuan.

However, recently, this star city commercial bank has been fined frequently. It has been exposed to the existence of real estate loan credit management, inadequate salary management, irregular affiliated transaction management, inadequate green credit policy, poor use of funds, inaccurate loan risk classifications, inaccurate loan risk classifications A series of problems such as irregular management management, inadequate internal control management, and lack of data governance.

In fact, in the development of Bank of Ningbo, a stable executive team has firmly implemented the strategy of small and medium -sized enterprises and expansion strategies in different places to ensure the rapid expansion of its asset scale. But now, these advantages have undergone new changes with policies, industry environment, and market competition. Bank of Ningbo also needs to change due to the situation, further strengthen the inherent advantages, and build a new moat.

01. From the loss of 1.6 billion to the annual net profit exceeding 19 billion

The development history of Ningbo Bank is a counterattack story of the Jedi.

The predecessor of Ningbo Bank was Ningbo Commercial Bank, which was formed by 17 local urban cooperatives in 1997. However, the newly established Bank of Ningbo has a loss of 1.6 billion yuan, the funding is not debt, and the non -performing loan ratio exceeds 40%. The historical burden is heavier.

In November 2000, Lu Huayu was transferred to the president of Ningbo Bank by the Deputy Director of the Ningbo Finance Bureau. Yu Fengying, then the executive deputy governor of the time, formed a business team, at that time, Bank of Ningbo still funded 1.2 billion yuan.

After Lu Huayu took office, Ningbo Bank increased its efforts to sell well. In 2003 and 2004, it took a profit of 30,000 to 400 million yuan each year to verify.

In the end, the Bank of Ningbo had digested the historical burden for 5 years and was able to go into battle.

In 2004, the former CBRC issued the "Outline of the Supervision and Development of Urban Commercial Banks", and the urban commercial bank opened a series of changes in reorganization and restructuring, cross -regional development, introduction of war investment, comprehensive operations, and listing.

In this context, the Bank of Ningbo started the leading war and listing process.

In May 2006, Bank of Ningbo absorbed 250 million shares of OCT by capital increase and expansion. After the capital increase, OCT Bank held 12.20%of Ningbo Bank's 12.20%of the shares. After completing the introduction of strategic investors, Bank of Ningbo also paved the way for the IPO and opened the golden period of rapid development.

On July 19, 2007, Bank of Ningbo was listed on the Shenzhen Stock Exchange (stock code: 002142), becoming one of the first domestic urban commercial banks in China.

Since its development, Bank of Ningbo has become a "superior student" in the city commercial bank. Since its listing in 2007, in just 5 years, the scale of Ningbo Bank's assets has been nearly doubled. As of the end of 2021, the total assets of Bank of Ningbo exceeded 2 trillion yuan, ranking fourth in the city commercial bank. However, the growth rate of 23.9%of its total assets is much higher than that of urban commercial banks with the same body, which shows its development momentum.

In the capital market, Bank of Ningbo also performed well, with an A -share market value of over 200 billion yuan.

Today, Bank of Ningbo has achieved annual revenue of over 52 billion yuan and net profit exceeding 19 billion yuan. Data show that Bank of Ningbo's operating income in 2021 was 52.774 billion yuan, an increase of 28.37%year -on -year; net profit attributable to shareholders belonging to the parent company was 19.546 billion yuan, an increase of 29.87%year -on -year.

02. Dividends and disadvantages of expansion in different places

The rapid development of Bank of Ningbo is inseparable from its strategy of expansion.

In 2007, Bank of Ningbo, Bank of Nanjing, and Bank of Beijing successively landed in the capital market, becoming the first batch of three city commercial banks to be listed.

At that time, it was during the madness of China's capital market, bank stocks were hot. The listing not only brought huge amounts of capital to the three banks, but also opened its popularity, but also occupied the opportunity in cross -regional operations, fully enjoying the dividend of the times.

At the same time as the Bank of Ningbo was listed in 2007, Shanghai Branch opened; in 2008, Shenzhen Branch opened. Since then, the branches of Suzhou, Wenzhou, Wuxi, Beijing and other places have opened.

In 2009, the original Banking Regulatory Commission issued the "Adjustment Opinions on the Market Access Policy of SME Branch of SMEs (Trial)". The city commercial bank set up branches in the province and no longer controlled by quantitative indicators.

Two years later, the policy turned. During the two sessions in 2011, Bank of Beijing was named and criticized. Due to the rapid pace of expansion of the cross -regional operation of the city commercial bank, the regulatory layer began to reflect on the pace of radical expansion of the city commercial bank. The former CBRC suspended the application for the approval of the urban commercial bank across the district after the two sessions. The policy is tightened, and the expansion of the city's commercial banks has slowed down.

According to regulatory requirements, small and medium -sized banks represented by urban business behaviors should resolutely reverse the development model of deviating from the main business and blindly pursuing speed and scale. Its off -site operating behavior should also be strictly regulated to realize the return of the source.

However, the Bank of Ningbo seized the opportunity before the supervision of the Urban Commercial Bank opened a different place and completed the layout of key cities in the Pearl River Delta and the Bohai Rim. In 2013, Bank of Ningbo initially formed the development pattern of the Yangtze River Delta, the Pearl River Delta and the Bo Rim Bay as the development pattern of two wings. Later, Bank of Ningbo turned to expand in different places in the province, and in 2015, it proposed to "continuously enhance the competitiveness of branches in the regional market." According to the official website information, in addition to operating in Ningbo, Bank of Ningbo has set up 16 in Shanghai, Beijing, Shenzhen, Hangzhou, Nanjing, Suzhou, Wuxi, Wenzhou, Jinhua, Shaoxing, Jiaxing, Lishui, Huzhou, Luzhou, Zhoushan, and Zhoushan. Branch, 466 business outlets.

The expansion strategy of different places has opened a development radius for Bank of Ningbo, and the market share is an important source of its continuous growth in performance.

However, cross -regional operations have put forward higher requirements for bank governance levels. In the process of rapid expansion of bank assets in Ningbo, some business risks have also been exposed.

Especially this year, Bank of Ningbo frequently received a million -level large ticket. The bank was fined 2.2 million yuan, 2.7 million yuan, and 2.9 million yuan on April 18, April 23, and May 27 respectively. The transaction management is irregular, the implementation of the green credit policy is inadequate, the funds are not strictly controlled, the loan risk classification is inaccurate, the bill business management and control are strict, the non -on -site statistical data is error, the management of financial business management is not standardized, the internal control management is in place, the data governance exists Lack of a series of issues.

In addition, some branches of Ningbo Bank also received the ticket frequently, which involved the problem that the loan business was illegal. According to statistics, during the year, Bank of Ningbo and related branches were fined nearly 10 million yuan.

03. New challenges of youthful executive team

From the executive team, the core management of the Bank of Ningbo has long -term and experienced experience, which guarantees the fixed force and continuity of its development strategic planning.

The chairman of Ningbo Bank is responsible for the formulation of bank administration and future strategic planning and is the core managers of banks. His chairman Lu Huayu was transferred to Bank of Ningbo in 2000 to be president of Ningbo. He has been the chairman of the company in January 2005. It is 16 years long. Long bank leader.

However, it is worth noting that Lu Huayu, born in 1964, is currently 58 years old and is about to face retirement. Earlier this year, Luo Mengbo resigned as a 10 -year -old Bank of Ningbo.

In 2011, Yu Fengying, the former president of Ningbo Bank, resigned for physical reasons. Luo Mengbo took over as president and began to serve as vice chairman in February 2014.

In January 2022, Bank of Ningbo announced that Luo Mengbo resigned as the deputy chairman, executive director, and president of the bank for personal reasons, and continued to serve as deputy secretary of the company's party committee and fulfilled relevant work responsibilities.

In recent years, Bank of Ningbo has promoted the signs of young cadres. In March 2021, Zhang Ningning, born in March 1984, was promoted to the vice president. According to disclosure, the average age of members of Ningbo Bank of China is only over 40 years old.

For the young management team of Bank of Ningbo, how to control risks in the future is stable and far away, and the test has just begun.

For a long time, the Bank of Ningbo broke away from the circle of large banks, targeting small and medium -sized enterprises, maintaining unique advantages, and building a moat. However, in the past two years, under the guidance of policy, state -owned banks and joint -stock banks have gradually sank, and the customer base of SMEs has been contended, and market competition has intensified.

In addition, after the expansion of the dividend of the city commercial banks, Ningbo Bank transferred 70%of the equity of Huarong Consumer Finance, thereby breaking the regional operation of the city commercial bank and developing a national consumer finance business. According to Laser Finance, Ningbo Consumer Finance subsidiary Ningyin Consumer Finance (raising) has launched national recruitment activities. Currently reserve the direct sales team, the first batch of about 70 cities, the target area is mainly the area where the parent outlets are not covered.

However, at present, the consumer finance track has been differentiated, and it has shown a situation where the strong is Hengqiang. At this time, the Bank of Ningbo missed the first -mover advantage, and the future development needs to be observed.

In recent years, Bank of Ningbo has also promoted the strategy and digitalization of large retail, intensified light capital transformation, and created a new growth pole of wealth management.

In 2014, Bank of Ningbo first proposed a large retail, and after 2015, it attached importance to fintech. In 2018, wealth management was established as the top priority of personal business. In 2019, it re -constructed the wealth management system and further focused on digital operations in 2020. From the perspective of analysts, Bank of Ningbo has long focused on small and micro enterprises services, and the owner of small and micro enterprises is expected to become a potential private customer customers at the bank. It also covers the wealth gathering place, and its regional advantages are obvious.

The China Integrity International Rating Report pointed out that the good regional economic environment, good corporate governance structure, high local brand influence, flexible decision -making mechanisms, good profitability and asset quality of asset quality in the good regional economic environment of Bank of China are located.

However, the report also mentioned that Bank of Ningbo faces many challenges, including the adverse effects of domestic and foreign macroeconomic downlinks on business operations and asset quality, fierce competition in operating regions, rising market capital dependence, increased the difficulty of liquidity risk management, and cross -regional operations Pressure to management level.

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