After becoming the new helmsman of Ping An Bank, how did Ji Guangheng, the new official, burn the "three fires"?
Judging from the current situation, drastic reform is naturally the main task. In the branch business, at the level of team building, a new round of organizational structure adjustment has surfaced recently. Coincidentally, on November 27 last year, the board of directors of Ping An Bank deliberated and passed the "Proposal on Organizational Structure Adjustment". On the 10th of the same month, the regulator approved the qualifications of President Ji Guangheng and directors.
In addition, since Ji Guangheng took office, Ping An Bank's internal changes include the change of business positions, the rotation of branch teams, and the resignation of some senior executives. In terms of performance, the narrowing of net interest margin has become a dilemma that cannot be ignored by the bank.
Organizational structure adjustment to ensure the independent operation of branches
Regarding the adjustment of the organizational structure of Ping An Bank, it is briefly summarized and divided into two parts:First, in the company's financial sector, the industry division system was cancelled, and the original six industry divisions were merged into the strategic customer department; The second is the retail finance sector, which abolished the sales promotion department of the retail area in the three major regions of the eastern, northern and southern districts, and integrated the comprehensive financial service center into the comprehensive financial development department. According to the ** report, according to the general statement circulated by internal employees, "retail 15 becomes 8, and corporate 13 becomes 7".
The restructuring has also led to changes at the personnel level. First of all, there has been a large number of changes in management cadres at the room level. Secondly, the team members of a number of branches have changed, involving branches in Changchun, Zhengzhou, Changsha, Wenzhou, Zhongshan, Guiyang, Hefei, Nanning, Nanjing, Ningbo, Quanzhou, Foshan, Taiyuan, Guangzhou, Nanchang, Xiamen and other branches.
It is worth mentioning that at Ping An Bank's 2024 bank-wide work conference,Ji Guangheng once mentioned that it is necessary to take the restructuring as an opportunity to further change the work style of the head office and implement the independent operation of the branches. In short, this time, Ji Guangheng came to a wave of "streamlining administration and delegating power" to fulfill the main responsibility of branch operation. However, this is also worrying, delegating power to branches, can strengthen and expand business, but at the same time, can the risk be effectively controlled?
And when the adjustment tuyere blew at the senior management level, Ju Weiping resigned as vice president due to work reasons; Guo Shibang resigned as executive director, member of the risk management committee of the board of directors, member of the related party transaction control committee and vice president due to job changes, and was transferred to Ping An Group as an assistant to the general manager. Cai Xinfa, the former special assistant to the president of Ping An Bank who was once in charge of retail business, has also left the company, and his successor is Zhang Zhaohui, assistant to the president of Ping An Bank.
Not only that, according to the official website of the State Administration of Financial Supervision and Administration, since the beginning of this year, the qualifications of senior executives of Ping An Bank have been approved as follows:
Net interest margin under pressure Revenue fell 7% year-on-year in the third quarter of last year7%
Since entering 2024, bank stocks have risen gratifyingly. On the morning of February 21, Bank of China and Agricultural Bank of China continued to hit a new high, and Ping An Bank won the daily limit.
Industry insiders believe that the banking sector is a low-volatility dividend sector, superimposed on stable growth, risk reduction options, continue to be optimistic about the absolute return of bank stocks. WhileFor Ping An Bank, in Ji Guangheng's planning, he put forward a new twelve-character strategic policy - stronger retail, better for the public, and more specialized in the same industry.
Judging from the current performance, in the first three quarters of 2023, Ping An Bank achieved an operating income of 12763.4 billion yuan, down 7 from the same period last year7%。In terms of quarters, the first quarter, the second quarter, and the third quarter decreased year-on-year respectively. 61%。
Among them, in the third quarter of 2023, Ping An Bank recorded a net interest income of 2872.1 billion yuan, accounting for 736%, up from 332 in the same period last year900 million yuan, down 1372%。It should be pointed out that since last year, the narrowing of net interest margin has become a common phenomenon in the banking industry, and Ping An Bank will not be an exception.
From January to September 2023, Ping An Bank's net interest margin was 247%, down 30 basis points from the year-ago quarter. In this regard, the bank mentioned in the financial report that because it continued to benefit the real economy, continuously optimized the asset-liability structure, moderately increased the credit supply of low-risk businesses and high-quality customers, and was affected by the loan repricing effect and market changes.
According to previous reports, at the third quarter of 2023 performance briefing of China CITIC Bank, Xue Fengqing, general manager of the bank's financial accounting department, expressed this more bluntly. He pointed out that the decline in net interest margin was mainly due to the impact of falling interest rates, continued pressure on asset yields, and relatively rigid deposit costs. In the fourth quarter of last year, there were still many unfavorable factors affecting the net interest margin, mainly due to the adjustment of mortgage interest rates and the decline in loan interest rates driven by the LPR interest rate cut.
On February 20 this year, the latest LPR** was released: the 1-year LPR "stood still" and was 345%；The 5-year LPR is 395%, a 25 basis point reduction, which is significantly higher than market expectations. In this regard,According to the research report of China Securities Construction Investment, the policy combination of "1-year immobility + 5-year downward adjustment" is conducive to stimulating the improvement of real estate demand and supporting the macro economy on the one hand, and on the other hand, it reflects the attitude of the policy to protect bank interest margins. As most mortgages have been repriced in January, the 25bps cut in the 5-year LPR will have little impact on banks' net interest margins in 2024, and it is expected that the net interest margin of banks will narrow better in 2024 than last year, considering the hedging effect of the deposit rate cut at the end of 2023.
However, the fact that the narrowing is better than last year does not mean that there is none. Can Ping An Bank stabilize its net interest margin? It also needs to be verified by the market.
How to control business risks when receiving millions of fines frequently?
As for business risks, Ping An Bank's Fuzhou Cangshan Branch failed to perform due diligence in the pre-loan investigation of personal loans and failed to manage the post-loan in placeHe was fined 400,000 yuan by the Fujian Supervision Bureau of the State Administration of Financial Supervision and Administration, give a warning to Xiao Jing, the relevant responsible person, and the date of the penalty decision is January 22, 2024.
According to the administrative penalty information disclosure form released by the Shanghai Supervision Bureau of the State Administration of Financial Supervision and Administration on January 10,Ping An Bank's capital operation center was fined 1.8 million yuanThe main facts of violations of laws and regulations include unreasonable assessment and incentive settings for hedging business; The management of the real needs of customers in interest rate derivatives business on behalf of customers is not in place; **Personal *** business marketing management is not in place; Bond trading is over-authorized.
And the fines announced this year are also involvedPing An Bank Suzhou Branchbecause the post-loan management of personal loans is not in place; The "three checks" of auto loans are not in place; Forfaiting funds repatriated to the issuer,was fined 1.6 million yuan, and the two relevant responsible persons each received a fine of 80,000 yuan.
In addition,Ping An Bank Fuzhou Branch was fined 2.7 million yuanThe relevant responsible persons were given warnings, and the main violations of laws and regulations included inadequate internal control and management of real estate development loans; Post-loan management is not in place, and the flow of discount funds is not monitored due diligence; Failure to perform due diligence in the pre-loan investigation of personal business loans, and inadequate post-loan management; Failure to perform due diligence in the pre-loan investigation of working capital loans, and inadequate post-loan management; Failure to perform due diligence in pre-loan investigations of replacement loans; The personal decoration loan system and mechanism are not perfect, and the internal supervision and inspection are not in place; Failure to affix a special seal to the original invoice in accordance with the provisions of the bank acceptance draft business.