Recently, Nanyin Faba Consumer Finance, hereinafter referred to as "Nanyin Faba Consumer Finance") issued the "Announcement on the Disclosure of Major Related Party Transactions in Personal Consumption Loan Business Cooperation with Rizhao Bank Co., Ltd.".
According to the announcement, in order to promote the company's business development, Nanyin Faba Consumer Finance intends to sign the "Personal Consumption Loan Business Cooperation Agreement" with Rizhao Bank to carry out entrusted management of stock business and new consumer finance business in Shandong on December 27, 2023, agreeing to jointly carry out personal online loan business in Shandong from April 1, 2024, and the company will provide Rizhao Bank with loan technology platform, customer account management and other services.
As of the third quarter of 2023, the balance of on-balance sheet loans of Bank of Nanjing was 28.5 billion yuan, a net increase of 24.5 billion yuan from the beginning of the year.
In terms of the main products, Nanyin Faba Consumer Gold is mainly divided into five product systems: City Easy Loan, Geek Loan, Artisan Customer Loan, Maker Loan, and Purchase Easy Loan, which is not much different from Rizhao Bank's consumer financial product Sunshine Loan, and the major shareholders of both are Bank of Nanjing, so there is the possibility of merger (see "Nanyin Faba Consumer Gold Again "Annexes" the Bank Team, What Are the Highlights Behind It?). 》）
According to public information, Rizhao Bank has set up consumer finance sub-centers in Rizhao and the cities where its 9 branches are located, and set up a professional retail team to drive the rapid growth of consumer loans through the "Sunshine" series of credit loans. Its consumer finance center has a business team of about 200 people, with a balance of about 6.5 billion yuan.
On the other hand, the first nine cities to open are Shenzhen, Tianjin, Wuhan, Xi'an, Changsha, Fuzhou, Quanzhou, Taiyuan and Wuhu.
As the company enters the second half, the Matthew effect is becoming more and more obvious, and only based on the advantages of resource endowment can we better play the economies of scale. From the perspective of registered capital, the registered capital of Nanyin Faba is 5 billion yuan. In the future, with the introduction of nearly 50 billion yuan of loan balance of Bank of Nanjing CFC and 6.5 billion yuan of stock loan balance of Rizhao Bank Consumer Finance Center, Nanyin Faba Consumer Finance will also usher in further development.
Those who can work harder", combined with the ability of licensed operation and the bank's funds, there is also a basis for cooperation between the two sides. If there is support at the shareholder level, then the joint operation of personal consumption loan business with small and medium-sized banks is a shortcut to rapid expansion.
Returning to this merger, this can further extend the business territory of Nanyin Faba Consumer Gold.
Nanyin Faba Consumer Finance also stated in the announcement that through this related party transaction, the company will deepen its cooperation with Rizhao Bank, and the two sides will jointly explore a new model of consumer finance cooperation, realize the business layout of the consumer finance market in Shandong, and help both parties develop in the long run.