Lei Jianping on May 7
Zhejiang MYbank Co., Ltd. (hereinafter referred to as "MYbank") recently released its annual report. According to the annual report, MYbank's revenue in 2021, 2022, and 2023 will be 13.9 billion yuan, 15.686 billion yuan, and 18.743 billion yuan respectively.
MYbank's operating profit in 2021, 2022 and 2023 will be 2.2 billion yuan, 3.82 billion yuan and 3.421 billion yuan respectively. The net profit was 2.092 billion yuan, 3.538 billion yuan and 4.2 billion yuan respectively.
MYbank's revenue in 2023 increased by 19.49% year-on-year, and net profit increased by 18.8% year-on-year.
Ant Group holds 30% of the shares
MYbank officially opened on June 25, 2015 and is one of the first private banks in China initiated by Ant Group and approved by the State Administration of Financial Supervision and Administration.
MYbank is a bank that applies cloud computing to its core systems, as well as a bank that applies artificial intelligence to small and micro risk control, satellite remote sensing to rural finance, and graph computing to supply chain finance.
As of December 31, 2023, Ant Group held 30% of the shares, Wanxiang Sannong Group Co., Ltd. held 26.78% of the shares, and Ningbo Jinrun Asset Management Co., Ltd. held 19.48% of the shares;
Shanghai Fosun Industrial Technology Development Co., Ltd. holds 15.22% of the shares, Hangzhou Dr. He E-commerce Co., Ltd. holds 4.87% of the shares, and Jinzi Food Co., Ltd. holds 3.65% of the shares.
As of the end of 2023, Shanghai Fosun Industrial Technology Development Co., Ltd., a shareholder of MYbank, has pledged its equity in the Bank, and the pledge ratio is 30% of its shares in the Bank. The remaining shareholders have no pledge.
Jin Xiaolong served as the chairman of the board
The chairman of MYbank is Jin Xiaolong, who was appointed in July 2021; Jin Xiaolong is also a senior vice president of Ant Group and chairman of Chongqing Ant Consumer Finance Co., Ltd.
Jin Xiaolong served as the President of the Internet Finance Department and the Small Business Finance Department of Ping An Bank, the General Manager of the Product and Cash Management Department of Shenzhen Development Bank and Ping An Bank Head Office, and the Executive Director, Vice President and President of MYbank.
Han Xinyi, Director of MYbank, is an Executive Director, President and Chief Financial Officer of Ant Group.
Han Xinyi joined Ant Group in May 2014 and has served as senior director and vice president. Prior to joining Ant Group, Han was a senior director of corporate finance at Alibaba Group. Prior to joining Alibaba Group, Mr. Han served as the Executive General Manager of the Investment Banking Department of China International Capital Corporation Limited, mainly engaged in investment banking business in the Internet, railway, telecommunications and other industries, and completed a number of IPOs, additional issuances, debt financing and mergers and acquisitions.
The executive director and president of MYbank is Feng Liang, who has been an executive director since April 2019 and president since September 2021. Jiang Hao is an executive director, vice president, secretary of the board of directors and chief compliance officer.
As of the end of 2023, MYbank's overall risk was controllable, with a provision coverage ratio of 199.14%, sufficient risk provisions, and a capital adequacy ratio of 11.30%, with stable overall operations.
At the end of 2023, MYbank's total assets reached RMB452.13 billion, an increase of 2.5% over the beginning of the year, of which the balance of loans was RMB270.58 billion, an increase of 18.58% over the beginning of the year. The total liabilities were RMB426.362 billion, an increase of 1.61% over the beginning of the year, of which the balance of deposits was RMB297.467 billion, an increase of 15.10% over the beginning of the year.
As of the end of 2023, MYbank's non-performing loan ratio was 2.28%, an increase of 0.34% from the beginning of the year. the provision coverage ratio was 199.14%, down 58.25% from the beginning of the year; the capital adequacy ratio was 11.30%, down 0.20% from the beginning of the year; The leverage ratio was 5.45%, an increase of 0.75% from the beginning of the year, and all major regulatory indicators met regulatory requirements.
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