Bank of Nanjing won the control of Suning's funding, and the shareholding was increased to 56%. The second bank was born in the province

Consumer finance companies in Jiangsu Province are here!

On August 16, 2022, Bank of Nanjing (601009.SH) issued the acquisition of Suning Consumer Finance Co., Ltd. (hereinafter referred to as Suning) controlling equity.

The announcement said that recently, Suning's funding received the approval of the China Banking Regulatory Commission and agreed to the 36%equity of Suning's subscription (hereinafter referred to as "Suning Tesco Group") held by the Bank of Nanjing (hereinafter referred to as "Suning Tesco Group") Suning's 5%equity.

The proportion of shares in Nanjing's shareholding Suning's deposit increase to 56%

Nanjing Bank said that after the equity change is completed, the company's holding of Suning's equity shares will increase from 15%to 56%.

It is understood that, on January 13, 2022, the board of directors of Nanjing Bank reviewed and approved the "Proposal on Acquisition of Control Stocks Contributing to Financial Institutions" and launched the acquisition of Suning's equity equity.

Subsequently, on March 4, 2022, Bank of Nanjing completed the signing of the 41%equity acquisition agreement of Suning's funding. The agreement showed that Bank of Nanjing and the shareholders of the shareholders France and Suning Tesco Group signed the "Equity Transfer Agreement". The equity transfer target is the 39%equity of Suning's funding and all its rights and interests held by Suning Tesco Group.

Among them, the company paid RMB 341 million, and the transfer of Suning Tesco Group held 36%of Suning's subsidiary of Suning Tesco Group; Bank of France paid 28.38 million yuan, and was transferred to Suning Tesco Group's 3%stake in Suning.

In addition, Bank of Nanjing also signed the Equity Transfer Agreement with Jiangsu Yanghe Winery Co., Ltd.. The equity transfer target is 5%of Suning's 5%equity and all its rights and interests held by Yanghe shares. The purchase price of the target equity is 47.3 million yuan.

Nanjing Bank said that after the completion of the acquisition, the company's holding of Suning's equity has increased from 15%to 56%, with a total investment of 388 million yuan, which will become the largest shareholder of Suning Gold Reduction. The proportion of Suning's funding held by the Bank of France in Paris, France, will also increase from 15%to 18%before, advanced Suning's second largest shareholder.

(Nanjing Bank)

Borrowing consumer finance to promote a large retail strategy 2.0 reform

With the transition to the control of Suning's funding to the Bank of Nanjing, the second bank of Jiangsu Province consumer finance company was also born (the first Su Yin Kiki Consumer Finance Co., Ltd., which holds 51%of the Bank of Jiangsu Bank).

According to the Nanjing Bank announcement in March this year, after the acquisition is completed, the bank will build long -term business cooperation with Suning Tesco in the field of consumer finance business, and rely on the Holding consumer finance company to cooperate with Suning Tesco.

According to the analysis of Zhejiang Business Securities, the market space of the gold protection market is wide. Previously, McKinsey had expected that the consumer credit market in 2025 was expected to reach 2.8.8 trillion yuan, with an average annual compound growth rate of 15%.

In addition, the elimination of the gold medal can also help break through the restrictions on the exhibition industry. According to the "Administrative Measures for the Pilot Financial Company of Consumption Finance Companies", consumer finance companies are allowed to carry out off -site businesses on the basis of controlling risks. Under the limited expansion of regional banks, Nanjing Bank has not set up new branches outside the province since 2010. Through holding consumer finance companies, Bank of Nanjing is expected to expand its business location and open a new space for business growth.

The above judgment was also reflected in the semi -annual report just disclosed yesterday.

According to the semi -annual report, in 2022, Nanjing Bank's retail financial sector thoroughly implemented the "customer -centric" business philosophy, focusing on the "three -four -three" strategic system, improved the management mechanism, strengthened the construction of the line team, and promoted the large retail strategy 2.0 2.0 Reform and transform.

Adhere to the main line of "full financial assets", and the scale of retail customers' financial assets has increased by over 70 billion yuan from the beginning of the year, creating a record high in the same period. "Driving the carriage" coordinated development; continuously upgraded the NCARD of digital credit card NCARD, and innovatively launched a credit card paid member system -N+members to further enhance customer stickiness and product value; realize the good ups and downs of private banking business, and nearly 11,000 private banking customers clients are nearly 11,000 Households, an increase of 16.61%compared with the beginning of the year; deepen the construction and operation of channels, comprehensively start the construction of the Bank of Nanjing Bank APP 7.0, and orderly carry out the promotion of the WeChat pilot of the enterprise. Accelerate the development of professional consumer finance institutions, and acquire Suning Consumer Financial Company's controlling stake in controlling equity projects steadily (semi -annual report).

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