Consumer finance companies are licensed financial institutions approved by China Banking Regulatory Commission. Up to now, 33 consumer finance companies have been approved to set up (including opening). Four of them were only approved for construction in the last two years.
At present, the approval process of consumer financial institutions is accelerating, and many industry giants such as Ping An and Xiaomi have entered the game. All kinds of signals show that the license of consumer finance is still very popular. With the continuous improvement of the regulatory framework of consumer finance market, what is the "gold content" of this license?
The licensed team continues to expand.
In addition, Yinsu Kaiji Consumer Finance Company, which officially opened in April this year, shows the trend of continuous expansion of licensed consumer finance institutions. Up to now, there are 33 licensees involved. Participants in these 33 consumer finance companies are mainly divided into two categories: first, banks. More than half of the shareholders of consumer finance companies have banks, mainly joint-stock banks and city commercial banks; Second, financial, e-commerce and Internet giants, such as Ping An, Baidu, Xiaomi, Vipshop and Ctrip.
Consumer finance business mainly refers to personal loans for consumption, which is characterized by small amount, short term and no mortgage, and can also be simply understood as retail credit business.
Judging from the newly approved consumer finance companies in recent two years, an obvious trend is that the participants of consumer finance companies are more and more diversified, with obvious cross-border characteristics. The founders of Ant Consumer Finance Company include Contemporary Anpu Technology Co., Ltd. and Yuyue Medical. The former is a new energy company, and the latter belongs to the health field. The controlling shareholder of Yin Su Kaiji Consumer Finance Co., Ltd. is Jiangsu Bank, and other shareholders include home appliance retailer Wuxing Holding Group and clothing company Blue Ocean Home.
The gold content of the license plate is outstanding.
"The competitive advantage of consumer finance companies is weaker than that of commercial banks, but due to high leverage and relatively low financing costs, they are obviously stronger than microfinance companies." Ma Xiangyun, chief banking analyst of soochow securities Research Institute, said in the report that the approval of consumer finance licenses is strict, and most of the major shareholders are commercial banks, which is essentially a professional platform for consumer finance within the commercial banking system.
Dong Ximiao, chief researcher of Zhaolian Finance, analyzed that in fact, the application of consumer finance companies is more flexible than that of private banks. A single major shareholder does not require the proportion of capital contribution, nor does it require all private enterprises; In terms of business scope, there is no geographical restriction.
This also explains why most shareholders of consumer finance companies are city commercial banks: a consumer finance license can help them achieve cross-regional operation and expand retail business.
The key is to manage well.
Since 2020, the pace of approval of consumer finance companies has accelerated, and market analysis shows that licensed institutions have entered the policy dividend period.
In the past decade, the existing consumer finance companies have accelerated the performance differentiation, with obvious head effect and stronger participants. In terms of net profit indicators, Zhaolian Consumer Finance, Xingye Consumer Finance and Instant Consumer Finance rank among the top three in the industry.
The recruitment of consumer finance is unique among licensed institutions. Last year, the company's net profit reached 65.438+66.3 billion yuan, a year-on-year increase of 654.38+03.4%. Assets exceeded 654.38+00 billion for the first time.
There are also consumer finance companies that have a good hand, but failed to play well. The performance of Gitzo Consumer Finance and BOC Consumer Finance has fallen out of the top three. Last year, the net profit of the two companies decreased by 88% and 365,438+0% respectively.
"The business model, scientific and technological capabilities, corporate governance and shareholder resources of consumer finance companies are all very important." Dong Ximiao said that a strong shareholder background means relatively strong financing ability. It is relatively easy to issue financial bonds and borrow from other banks, which is a very important point in the competition of licensed institutions.
Related Q&A: Which companies have consumer finance licenses? Ping an group. 1. The financial license, that is, the business license of a financial institution, is the official document approving the financial institution to conduct business. At present, financial licenses are issued by CBRC, CSRC and CIRC respectively. Financial supervision is divided into pre-supervision, in-process supervision and post-supervision. Market access system is the core of prior supervision, and financial license plate is the normal performance of market access system. 2. Types of financial licenses: The domestic financial licenses that need to be approved mainly include banks, insurance, trusts, brokers, financial leasing, futures, funds, fund subsidiaries, fund sales, third-party payment licenses, micro-loans and pawns.
Related Q&A: Recently, China Ping An Insurance was approved by the China Banking Regulatory Commission to obtain a consumer finance license. What is consumer finance? What is the specific business? Since the first batch of consumer finance companies were piloted in 20 10, licensed consumer finance companies in China have developed for 9 years. During this period, 27 consumer finance companies obtained licenses and 23 consumer finance companies officially opened, and entered the market to provide consumer finance services to users.
Consumer finance refers to the financial service mode that consumer finance companies provide loans to consumers for consumption (excluding buying houses and cars). It has the characteristics of small single credit line, fast approval speed, no mortgage guarantee, flexible service mode and short loan period. The maximum amount of personal consumption loan is 200,000 yuan. Based on consumers' different buying behaviors, consumer finance covers consumer items such as durable consumer goods, tourism and catering, wedding, education and training, health and beauty. , mainly for low-and middle-income people with strong consumer demand.
The consumer finance license must be approved by the CBRC and belongs to a non-bank financial institution that does not absorb public deposits. Its sources of funds include: 1) accepting deposits from shareholders and their domestic subsidiaries, 2) borrowing from domestic financial institutions, 3) issuing financial bonds, 4) domestic interbank lending and 5) asset securitization.
With the change of consumption concept after 1980s and 1990s, there is a huge space for consumer credit and leverage, and the market demand for consumer finance will remain strong in the next few years. Consumer finance license, which belongs to the financial field encouraged by the state, can directly participate in interbank lending as a non-bank financial institution. , the license value is significant. At present, 27 institutions in China have obtained consumer finance licenses, forming three categories: banking, e-commerce and industry.
Policy support for the use of consumer finance has become the next way out. Since the CBRC issued the Measures for the Pilot Management of Consumer Finance Companies in 2009, consumer finance has gradually developed, and the first batch of four consumer finance companies have been established. In the summer of 20 15, the executive meeting of the State Council decided to liberalize the market access of consumer finance, and the pilot of consumer finance companies was expanded from 16 to the whole country. The power of examination and approval is delegated to provincial departments, and qualified private capital, domestic and foreign banking institutions and Internet companies are encouraged to initiate the establishment of consumer finance companies.
Consumer financial products mainly include durable consumer goods loans and cash loans, among which consumer goods loans are mainly aimed at consumers' high-frequency commodity consumption and service consumption, including durable consumer goods, tourism and catering, weddings, education and training, health and beauty, etc. In the initial stage, consumer finance companies usually use consumer goods loans to minimize risks and gain users more conveniently. After the scale, they will strengthen the secondary sales and turnover quota of cash loans, improve the deep coverage of users, and at the same time overlay services and improve the income level. The maximum amount of personal consumption loans and cash loans shall not exceed 200,000 yuan, and the single installment amount shall be the price of consumer goods. The scale of a single loan depends on the risk control system of a consumer finance company, which is approved and evaluated according to the credit status of consumers, usually not exceeding 50,000 yuan. For example, buy loans for English services of EF Education, Weber Education, Wall Street and Midland.
In June, 1 1, the consumer finance license was approved for opening, and the supervision successively released the signals that two gold consumption institutions were approved.
165438+1October 2 1, China Ping An was approved to set up a consumer finance company in Shanghai,1October 26,165438+Chongqing Banking Insurance Regulatory Bureau approved Chongqing Rural Commercial Bank to participate in the establishment of Chongqing Xiaomi Consumer Finance Company. The value of consumer finance licenses will continue to rise.