Another bank has obtained the qualification of fund custody. Which one is it?

Chengdu Bank's securities investment fund custody qualification was approved, making it the third Chinese bank to obtain fund custody qualification after Suzhou Bank and Qingdao Bank, and all of them are city commercial banks. So today, Xiaobian is here to sort out the relevant knowledge of the fund for everyone. Let's take a look!

Chengdu Bank obtained the qualification of fund custody

On August 7, Chengdu Bank announced that it had recently obtained the Reply of China Securities Regulatory Commission on Approving the Qualification of Securities Investment Fund Custody of Chengdu Bank Co., Ltd. According to the reply, the bank's securities investment fund custody qualification has been approved.

Chengdu Bank said that according to the reply, Chengdu Bank will conduct fund custody business abroad after renewing the license for securities and futures business. Chengdu Bank will conduct securities investment fund custody business in accordance with relevant regulations and the requirements of the above-mentioned approval documents, earnestly perform the duties of fund custodian, take effective measures to ensure the integrity and independence of fund assets, and earnestly safeguard the legitimate rights and interests of fund share holders.

It is understood that as early as the beginning of 221, Chengdu Bank started to apply for the qualification of fund custodian, and the CSRC received the application materials in mid-March of that year. According to the industry, the qualification of fund custody this time will help Chengdu Bank to fill in the shortcomings of agency sales.

At the annual performance briefing held in May this year, Henry Hui Wang, the chairman of Chengdu Bank, said that on the basis of its obvious advantages in the debt side of individual gold business and the cooperation with high-quality corporate customers in entity business, the bank will actively fill the shortcomings and realize the "further promotion" of the two major tracks.

Among them, in terms of individual gold business, firstly, in the form of white list, capture high-quality customer base and focus on filling the shortcomings of consumer credit business; Second, focus on travel scenes to enhance customer viscosity and increase the proportion of demand deposits and short-term deposits in the whole bank; The third is to fill the shortcomings of fund agency and private banking business. "After the market adjustment since the beginning of the year, the big risks have basically been released. Now it is a very good opportunity for us to do fund agency business for the healthy development of our reputation and business."

In terms of profitability, the core indicators of Chengdu Bank's profitability have been in the forefront of commercial banks in recent years. In 221, Chengdu Bank achieved an operating income of 17.89 billion yuan, a year-on-year increase of 22.54%; The net profit attributable to shareholders of the parent company was 7.831 billion yuan, a year-on-year increase of 29.98%. The weighted average return on equity reached 17.6%.

In the first quarter of this year, Chengdu Bank achieved an operating income of 4.836 billion yuan, a year-on-year increase of 17.65%; The net profit attributable to shareholders of the parent company was 2.151 billion yuan, a year-on-year increase of 28.83%.

In terms of capital strength, the total assets of Chengdu Bank have achieved a leap-forward growth of 1 billion in recent years. In 221, Chengdu Bank quickly recovered from the impact of the epidemic, and its total assets exceeded 76 billion yuan, reaching 768.346 billion yuan. As of March 31st this year, the total assets of Chengdu Bank exceeded 83 billion yuan for the first time, reaching 837.798 billion yuan, an increase of 9.4% over the end of last year.

judging from the performance of the secondary market, according to Wind data, the share price of Chengdu Bank rose by 16.4% in 221, ranking first among A-share banks. From the beginning of 222 to August 5, the bank's cumulative increase exceeded 3.1%, ranking first among listed banks.

29 Chinese banks were qualified for fund custody

Chengdu Bank was qualified for fund custody this time, becoming the third Chinese bank to be qualified for fund custody this year and the 29th Chinese bank to be qualified for fund custody.

since Suzhou bank announced on March 18th that the qualification of securities investment fund custody has been approved by the CSRC, the situation that the fund custody license of Chinese banks has been "blocked" for nearly eight years has been broken.

In p>214, Huishang Bank, Guangzhou Rural Commercial Bank, hengfeng bank, Baoshang Bank, Hangzhou Bank, Nanjing Bank and Jiangsu Bank successively obtained the qualification of securities investment fund custody business. In the following eight years, no Chinese bank was granted this qualification.

during the period, only three foreign banks, Standard Chartered Bank (China), Citibank (China) and Deutsche Bank (China), obtained the "license" for fund custody in October 218, September 22 and December 22 respectively.

Following Suzhou Bank, on July 22nd, official website of China Securities Regulatory Commission showed that the CSRC approved the qualification of securities investment fund custody of Qingdao Bank, and said that Qingdao Bank should strictly abide by relevant regulations, earnestly perform the duties of fund custodian, take effective measures to ensure the integrity and independence of fund assets, and earnestly safeguard the legitimate rights and interests of fund share holders.

Before the three banks' securities investment fund custody qualifications were approved, asset management association of china official website showed that 58 financial institutions had fund custody qualifications.

among them, there are 26 Chinese banks, namely: Industrial and Commercial Bank of China, Agricultural Bank, China Bank, China Construction Bank, Bank of Communications, Huaxia Bank, China Everbright Bank, China Merchants Bank, China CITIC Bank, Minsheng Bank, Industrial Bank, Shanghai Pudong Development Bank, Bank of Beijing, Ping An Bank, China Guangfa Bank, Postal Savings Bank, Shanghai Bank, Bohai Bank, Bank of Ningbo, Zheshang Bank and Huishang Bank.

Together with these three banks, a total of 61 institutions have obtained fund custody licenses, including 29 Chinese banks, 3 foreign banks and 29 securities firms. In addition, there are 11 companies in the queue to apply for fund custody qualification, including 3 Chinese banks, 2 foreign banks and 6 brokers.

Chinese and foreign banks compete to enter the market

According to the data, the fund custody business is still absolutely dominated by banks. Bank custody of Public Offering of Fund started earlier and occupied a dominant position in the market. In 1998, the five major banks that established diplomatic relations between workers, peasants and China obtained the qualification of fund custody.

Specifically, at present, there are three Chinese banks, namely Mongolian Commercial Bank, Chongqing Rural Commercial Bank and Shanghai Rural Commercial Bank, whose applications for fund custody business qualifications are in the queue. Foreign banks are HSBC (China) and BNP Paribas (China); The six brokers include Western Securities, Caixin Securities, First Venture Securities, TF Securities, Dongxing Securities and Xiangcai Securities.

as you can see, Chinese and foreign banks are competing to enter the market. According to insiders, commercial banks can obtain long-term, stable and low-cost funds through custody deposits in addition to direct income from custody fees. For banks, fund custody business is helpful to obtain capital precipitation, improve customer stickiness and customer acquisition ability, and increase the income from intermediary business of bank fund service fees.

However, the insiders also believe that "the entry of foreign banks into the Public Offering of Fund custody market will definitely bring new changes to this field, but it should not significantly change the current market structure." The six state-owned banks plus China Merchants Bank have obvious advantages in terms of talents, experience accumulation and system construction. According to Wind data, from the perspective of the total assets (open+closed) of custody funds, the top ten are all from banks, and the total assets of custody funds all exceed one trillion yuan.

therefore, in the future, the structure of the custody market will still be that the head bank represented by state-owned banks and stock behavior will continue to occupy a dominant position in the market, and the market concentration will remain high in the future.