Recently, Hangzhou Bank Consumer Finance plans to issue the first phase of Hangzhou Bank Consumer Finance Co., Ltd. in 2024, with an issuance scale of RMB 1 billion, and the current bond is a 3-year fixed interest rate variety.
The consumer finance industry has noticed that since the second half of last year, the consumer finance industry has been affected by favorable policies, and the issuance of financial bonds, which has been stagnant for two years, has ushered in the opening of the floodgates for the first time.
In November 2023, IB Consumer Finance issued the "First Phase of Financial Bonds in 2023", with an issuance scale of 1.5 billion yuan, an issuance period of three years, and a coupon rate of 303%。If the Hangzhou Bank Consumer Gold Financial Bond is successfully issued, it will become the second consumer finance company to successfully issue financial bonds in 2024 after the opening of the financial bond gate.
The consumer finance industry has noticed that the relevant credit rating report discloses a series of operating data of Hangzhou Bank Consumer Gold.
In terms of shareholder structure, after two capital increases and shareholder changes, as of the end of September 2023, the registered capital of Hangzhou Bank Consumer Gold is 256.1 billion yuan, of which the largest shareholder, Bank of Hangzhou, holds 42 shares95%, the company has no controlling shareholder and actual controller.
Relevant data show that as of September 2023, the total assets of Hangzhou Bank Consumer Gold reached 44.6 billion yuan, and the balance of non-performing loans was 74.6 billion yuan, non-performing loan ratio of 172%。
In terms of main business, Hangzhou Bank has gradually transformed from a pure offline and local promotion model in 2016 to an "online + offline" model. At present, two product systems have been formed: online product light loan and offline product exclusive loan. Parking space loans and other loans, which are the products of the company's early pilot business development, have been discontinued in March 2018.
*Next, the company deeply cultivates the market and optimizes the customer structure. In terms of customer access, in addition to civil servants, the proportion of credit granted to self-employed people and ordinary salaried people is also increasing.
*The company continues to improve its independent customer acquisition capabilities, continuously optimizes the channel cooperation model, and effectively expands its business scale. Compared with the offline model, online products contribute higher interest-bearing assets and yields.
It is worth mentioning that although the company adheres to the strategy of "intensive cultivation, bigger and stronger" of its own business, the proportion of its own business is still at a low level. As of the end of 2022, the company's self-operated business balance accounted for 2063%。As of 2022, the company's offline business accounts for 2004%。It can be seen that the vast majority of online businesses have achieved scale growth through loans.
In terms of loan scale, as of the end of March 2023, the company has granted credit to 1,913 customers010,000 households, with a total of 3,540 loans4.8 billion yuan. In 2022, the average loan amount of the company is 203907 yuan, down 16 percent year-on-year40%；The average term for loans issued is 940 months, compared to 875 months has been lengthened.
Another noteworthy data is that as of 2022, the operating expense ratio of Hangzhou Bank Consumer Gold decreased by 1. year-on-year94 percentage points to 974%, which is at the low level of the industry.
In terms of operating efficiency, the Company's operating expenses are mainly concentrated in employee expenses, operating expenses and depreciation and amortization expenses. The company incurred business and management expenses in 2022441.2 billion yuan, a year-on-year increase of 2672%, mainly due to the rapid expansion of business and the increase in personnel demand, which led to an increase in employee compensation.
It is understood that Hangzhou Bank has a balance of about 10 billion yuan offline, and the offline team size is nearly 500 people. How to control offline operating costs and increase the proportion of online self-operated business are the problems that this consumer finance company needs to face urgently.