China Fund News Chenxi
Another former bank cadre has been investigated!
On May 13, the official website of the Henan Provincial Commission for Discipline Inspection and Supervision reported that Wang Tianyu, director of the Culture and History Committee of the Zhengzhou CPPCC, is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Henan Provincial Commission for Discipline Inspection and Supervision.
It is understood that Wang Tianyu has worked in Bank of Zhengzhou for more than 20 years, and has served as the president, party secretary and chairman of the bank. In March 2023, Wang Tianyu submitted his resignation report to Bank of Zhengzhou, and later served as the director of the Culture and Culture and History Committee of the Zhengzhou CPPCC.
He has been at the helm of Zhengzhou Bank for many years, and officially announced his departure in March last year
According to the public resume information, Wang Tianyu was born in March 1966 and is 58 years old; He is a member of the Communist Party of China and a senior accountant.
Wang Tianyu graduated from Henan University of Finance and Economics with a bachelor's degree in economics in 1988, obtained a master's degree in business administration from the National University of Singapore in 2006, an executive master's degree in business administration from Tsinghua University in 2015, and a doctorate degree in economics from Huazhong University of Science and Technology in 2018.
Prior to joining Bank of Zhengzhou, Wang Tianyu worked in China Staff Travel Service, Longxiang Hotel, Henan Yugong City Credit Cooperative, etc. In 1996, 48 urban credit cooperatives in Zhengzhou merged to form Zhengzhou Urban Cooperative Bank, which was later renamed Zhengzhou Commercial Bank in 2000 and Bank of Zhengzhou in 2009.
In August 1996, Wang Tianyu joined the bank and served as the president of the bank's Jingwu Road Branch. In December 1999, Wang Tianyu was promoted to member of the Party Committee and Vice President of the Head Office, and in September 2005, he was appointed Secretary of the Party Committee and President of the Bank.
From November 2010 to December 2011, Wang Tianyu also served as the secretary of the party committee, chairman and president of Bank of Zhengzhou, secretary of the party committee and chairman of the board of directors of Bank of Zhengzhou in December 2011, and an executive director in February 2012. In addition, Wang Tianyu was awarded the title of "National Model Worker" in April 2015.
In March 2023, Bank of Zhengzhou announced that according to the relevant regulations and organizational work arrangements for leaders in the financial industry, Wang Tianyu intends to take up a new position, and Wang Tianyu has submitted a resignation report to the bank. After his resignation, Wang Tianyu no longer held any position in Bank of Zhengzhou and its holding subsidiaries.
Since 1999, Wang Tianyu has served as the vice president of the bank, and has successively served as president, secretary of the party committee and chairman of the board of directors. After leaving the Bank of Zhengzhou, Wang Tianyu went to work at the local CPPCC.
According to the official website of the Zhengzhou CPPCC, the list of directors of the special committee of the 15th Zhengzhou Municipal Committee of the CPPCC announced in March 2023 shows that Wang Tianyu is the director of the Culture and Culture and History Committee. Wang Tianyu was investigated this time, only more than a year after he left the Bank of Zhengzhou.
The total assets exceeded 600 billion yuan, and it was promoted to inspection last month
According to public information, Bank of Zhengzhou was established in 1996, listed in Hong Kong and Shenzhen in 2015 and 2018, and is the first A-share listed bank in Henan Province and the first A+H listed city commercial bank in China, and was identified as the main body of policy-based science and technology innovation finance in Henan Province by the Henan Provincial Party Committee and Provincial Government in April 2022.
As of the end of December 2023, Bank of Zhengzhou has 5,911 employees and 182 branches in the province, including 14 branches in prefectures and cities; It manages 7 village banks and 1 financial leasing company in Zhongmu, Xinmi, Yanling, Fugou, Junxian, Queshan and Xinzheng.
In terms of asset scale, as of the end of December 2023, Bank of Zhengzhou had total assets of 630.709 billion yuan, total loans of 360.608 billion yuan, and total deposits of 360.961 billion yuan. According to the first quarter report of 2024, the total assets of Bank of Zhengzhou reached 632.852 billion yuan.
In 2023, Bank of Zhengzhou will achieve operating income of 13.667 billion yuan, a year-on-year decrease of 9.5%; The net profit attributable to the parent company was 1.85 billion yuan, a year-on-year decrease of 23.62%. In the first quarter of 2024, the bank achieved operating income of 3.4 billion yuan and net profit attributable to the parent company of 967 million yuan.
In terms of stock price, as of the close of trading on May 13, the A-share share price of Bank of Zhengzhou was 1.94 yuan per share, with a total market value of 17.6 billion yuan.
In addition, Bank of Zhengzhou has attracted market attention because it has not paid dividends for four consecutive years. At the performance briefing held in April this year, Zhao Fei, chairman of Bank of Zhengzhou, gave three reasons for not paying dividends: first, in the face of a complex and severe economic environment, profitability has been affected to a certain extent; Second, complying with regulatory guidance and retaining undistributed profits will help the bank further enhance its risk resilience; Third, the retained undistributed profits will be used to supplement the bank's core Tier 1 capital.
It is worth noting that on April 13, Henan Province announced the sixth round of inspections of the provincial party committee. Among them, the party committees of 8 financial units, including Zhongyuan Assets, Zhongyuan Bank and Zhongyuan Securities, carried out routine inspections, and carried out upgraded inspections to the party committees of Zhengzhou Bank.
Editor: Joey
Review: Chen Mo