Reporter Xie Yiguo Intern reporter Liu Jintao reported
Recently, Panjin Bank Co., Ltd. (hereinafter referred to as Panjin Bank) was fined for failing to approve material related party transactions in accordance with regulations. Just a year ago, the bank received a fine for providing hidden guarantees to related parties for financing in violation of regulations. His former legal representative was given a warning in two separate punishments.
In addition, the reporter noted that since 2019, the bank has not disclosed the information of the legal representative, but has changed two persons in charge in succession. In the first two years of the chairman's change in 2019, the bank's operating income showed negative growth, and the growth rate of net profit also declined year after year. It is worth mentioning that the bank's non-performing loan ratio in 2018 reached 3.18%, and the provision coverage ratio was only 29.80%, far below the regulatory red line of 120%.
After the change of coach, the performance of Panjin Bank has been greatly improved in 2019, and the net profit of revenue has achieved a relatively large increase, however, this good trend has folded in 2020, and there has been an extreme increase in revenue without increasing profits, and as of the end of June 2021, this situation has not improved significantly, but there has been a double decline in net profit.
At the same time as the performance of the bank was sluggish, the situation of its two shareholder companies was also urgent, and they were repeatedly listed as dishonest executors. It is worth mentioning that the two companies belong to the same group.
The reporter called the bank about the bank's violations, changes in executives and financial reports, etc., but as of press time, has not received a reply.
Two fines were received for violations of major related party transactions, and shareholders became "old lai" in dishonesty
According to the administrative penalty circular of the China Banking and Insurance Regulatory Commission on October 22, Panjin Bank was fined 200,000 yuan for failing to approve major related party transactions in accordance with regulations, and the legal representative Zhang Chengjie was given a warning punishment for taking responsibility for management.
According to the news of the Banking and Insurance Regulatory Commission on June 17, 2020, the bank was fined 200,000 yuan for providing implicit guarantees to related parties for providing hidden guarantees to related parties in violation of regulations, and Zhang Chengjie and Xu Hua were given warnings for taking on leadership responsibilities and undertaking responsibilities respectively.
In response to this violation, the reporter called the bank about whether it would take certain measures to rectify it, and as of press time has not received a reply.
At the same time that Panjin Bank was punished twice for violating the rules, its two shareholders were also deeply involved in loan contract disputes and were repeatedly listed as dishonest executors.
According to the "First Enforcement Ruling on Loan Contract Disputes between China Construction Bank Co., Ltd. Panjin Branch and Agricultural Bank of China Co., Ltd. Panjin Branch" disclosed by the Judgment Document Network on September 17, 2021, Panjin Bank's fourth largest shareholder, Panjin Liaodong Bay Fengyuan Thermal Co., Ltd. (holding 10.83% of the shares and holding 104 million shares) and the corresponding shareholders of the company were listed as dishonest executors. The reporter learned from the China Enforcement Information Disclosure Network that Panjin Liaodong Bay Fengyuan Heat Co., Ltd. was listed as a dishonest executor a total of 6 times in 2021, dating back to February 19, 2021. In addition, the company's "Fengyuan Thermal Stock" has also been delisted.
It is worth noting that Panjin Liaodong Bay Fengyuan Thermal Co., Ltd. belongs to Panjin Heyun Group, and another subsidiary of the group, Panjin Heyun Industrial Group Co., Ltd., is also a shareholder of Panjin Bank (1.05% shareholding ratio, 10 million shares). The company was listed as a dishonest executor a total of 7 times in 2021, dating back to January 19, 2021.
According to Alibaba Auction Network, the 10 million shares of Panjin Bank held by Panjin Heyun Industrial Group Co., Ltd. with an appraisal price of 31 million yuan started at a price of 21.7 million yuan on September 17, 2020, but ended with a stream auction. After that, the applicant further reduced the price to 17.36 million yuan and conducted the second auction on October 3, 2020, but still no one signed up, and finally ended with the suspension of the auction.
Performance bright red light, 2020 net profit fell 178.97% year-on-year
While the person in charge was replaced several times, the bank's sluggish operating performance was briefly improved, but it was not maintained.
In fact, Zhang Chengjie, who received a warning twice for violations, was no longer on the list of directors and supervisors of Panjin Bank as early as 2019. The reporter learned through multiple searches that Zhang Yun, who was then the secretary of the party committee and chairman of the board of directors of the bank. However, in 2021, its party secretary has been replaced by Ma Ming.
According to public information, Panjin Bank was established in 1992 as a local joint-stock commercial bank. Formerly known as Panjin City Credit Union, it was established as Panjin City Commercial Bank in March 2005 and renamed "Panjin Bank" in March 2017. It has 13 first-class sub-branches and 32 business outlets, and is the largest commercial bank in Panjin City. Initiated the establishment of two village and town banks, Dawa Hengfeng and Panshan Antai. The registered capital is 957 million yuan. The former legal representative is Zhang Chengjie. As of the end of June 2021, the total asset size reached 59.189 billion yuan.
The reporter combed the bank's financial report and found that in the two years before the chairman was changed from Zhang Chengjie to Zhang Yun, that is, in 2017 and 2018, its revenue and net profit showed a downward trend. According to the corresponding annual report, the bank's revenue in 2017 and 2018 was 777 million yuan and 690 million yuan, down 68.45% and 11.21% year-on-year, respectively; the net profit was 302 million yuan and 280 million yuan, respectively, following the year-on-year increase of 35.40% in 2016, 2017 and 2018 were 7.21% and -7.21% year-on-year, and the growth rate declined year by year until negative growth. It is worth mentioning that the bank's non-performing loan ratio in 2018 reached 3.18%, and the provision coverage ratio was only 29.80%, far below the regulatory red line of 120%.
After the change of coach, the operating performance of Panjin Bank has improved to a certain extent, and the revenue and net profit have achieved a substantial increase. According to the bank's 2019 annual report, its revenue reached 992 million yuan and net profit reached 384 million yuan, an increase of 43.67% and 37.19% respectively.
However, this good trend in 2020 folded, there was an extreme increase in revenue and no increase in profits. According to the annual report, the bank's revenue in 2020 reached 3.161 billion yuan, a sharp increase of 218.67% year-on-year, while the net profit increased by 303 million yuan, a sharp decline of 178.97% year-on-year.
The 2021 interim report shows that it has fallen in both net revenues. As of the end of June 2021, the bank's revenue and net profit were 278 million yuan and 130 million yuan, down 86.49% and 27.38% respectively year-on-year. At the same time, the growth rate of the bank's total asset scale has also gradually slowed down, following a sharp increase of 79.91% year-on-year in 2019, the 2020 annual report increased by 5.61% year-on-year, and the 2021 mid-year report increased by 4.16% year-on-year.
Regarding its executive changes in recent years, as well as the sluggish performance in other years except for the improvement in 2020, the reporter called the bank, and as of press time has not received a reply.
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