At present, although many domestic banks have carried out factoring business, relatively speaking, bank factoring business is still in its infancy, and more banks are mixing receivables pledge and factoring business. Receivables pledge, banks also focus on a group of large, high-quality customers, such as utility companies. In fact, small and medium-sized enterprises (SMEs) that need factoring and receivables pledge the most often do not enjoy the benefits brought by bank factoring.
There is no fierce conflict between commercial factoring companies and banks over factoring. Because the development of factoring business has its own characteristics:
1. Strict risk control mechanism: Banks and commercial factoring companies have different operating methods in risk control, banks mainly focus on traditional risk control, while commercial factoring companies are more able to introduce more suitable risk control mechanisms from foreign and overseas commercial factoring companies.
2. Professional project team: Factoring is different from traditional working capital loans, credit loans and receivables pledge loans, and requires a professional team combining investment banking, sales and risk control. At present, many banks and even sub-branches are seriously understaffed and can only concentrate on individual projects, which cannot effectively expand the factoring business, while commercial factoring companies do not have such concerns.
3. Compliance and innovation: Although the definition of factoring business has been basically clear, in terms of the contradiction between compliance and innovation, many banks are limited by the cumbersomeness of the mechanism and cannot be effectively adapted, while commercial factoring companies do not have this concern.
Of course, the biggest difference between a commercial factoring company and a bank lies in the difference in the source and scale of funds, which also forms a business consensus that commercial factoring companies "walk in front of the bank, but rely on the bank".
Banks have concentrated a large amount of funds, but in the face of the big cake of factoring, it is difficult for banks to bite down or even bite the first bite. Of course, a large number of non-bank financial institutions are concentrated around banks, such as loan companies, guarantee companies, trusts and other enterprises, but it is still quite difficult for banks to integrate them into factoring business.
Therefore, if the bank can first form a product or asset acceptable to the bank through the factoring of the commercial factoring company, then it is the bank that finally takes the lion's share of the factoring, because the scale of funds is in the bank.
At present, commercial factoring companies mainly use credit enhancement to emphasize recourse, and there are two types:
1. Documentary factoring of acceptance bills: that is, the seller simultaneously issues acceptance notes for documentary trading, so as to ensure the right of recourse.
2. Guarantee by the guarantee company: The guarantee company will enhance the credit of the factoring business, so as to ensure the right of recourse.
The first method currently accounts for an increased proportion, resulting in the precipitation of bills of commercial factoring companies, the income of sellers' intermediate business, and the opportunity to buy and sell bills. How to understand that? The seller needs to open an account (receivables collection) with the bank designated by the factor and pay the invoicing deposit, and of course the seller enterprise can get the regular interest rate of the margin; the commercial factoring company needs to transfer the bills it receives, and the bank can buy these bills.
With these three opportunities, banks can participate in the whole process and get income. Banks and commercial factoring companies can cooperate to complete the three core indicators of account opening, deposits, and bill trading income.
At present, the cooperation between domestic commercial banks and commercial factoring companies is mainly focused on bill discounting and credit extension. Naturally, there is no need to go into detail about bill discounting. In the case of credit, banks mainly provide interbank credit or ordinary enterprise credit to commercial factoring companies. At present, it is this credit problem that is difficult for commercial factoring companies to accept.
The assets obtained by commercial factoring companies from banks are actually good assets, especially now, the assets are basically bank acceptance bills, which are currently in the risk-free category. Commercial factoring companies have a high turnover rate of funds and a certain scale of leverage, and the way and scale of bank credit are precisely the basic demands of cooperation between commercial factoring companies and banks.
For commercial factoring companies, the consideration is that they have obtained sufficient capital qualifications from banks and are backed by bank acceptance bills. The main consideration for banks is that although the commercial factoring company has sufficient realizable assets (banker's acceptances), the commercial bank must consider the opportunity cost of funds.
Regardless of the way banks and commercial factoring companies work together, the final focus is on size and price.
In the cooperation between banks and commercial factoring companies, we must first consider the additional benefits brought by commercial factoring companies to banks in addition to pure lending, that is, other indicators such as account opening and deposits. Secondly, considering the merits of the commercial factoring company's own assets, if the business cooperation goes deeper, the bad debt ratio of the commercial factoring company's receivables should be verified.
Compared with the bank's own factoring business, the cooperation between the bank and the commercial factoring company is a kind of cooperation with point coverage, and the amplification effect of the cooperation is self-evident. If the bank simply focuses on the traditional credit model, then the bank will first inhibit its own innovation ability, and secondly, it will lose some business commanding heights.
Of course, the cooperation between banks and commercial factoring companies may be able to make more breakthroughs in the general direction of asset securitization.
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