On June 17th, sources revealed that Industrial Bank (61166.SH) signed a strategic cooperation agreement with Jiujiang Commercial Bank (hereinafter referred to as "Jiujiang Commercial Bank") on June 14th, and took a 2% stake in Jiujiang Commercial Bank at a price not exceeding 1.93 times the net asset value per share at the end of 27.

"The strategic cooperation agreement was signed in Jiujiang, Jiangxi, signed by Li Renjie, President of Industrial Bank, and Liu Xianting, Chairman of Jiujiang Commercial Bank." The source said.

According to its disclosure, Jiujiang Commercial Bank includes the capital increase and share expansion plan of Industrial Bank, and plans to increase the registered capital by 2 million yuan at the price of 2.9 yuan per share. After the capital increase and share expansion, the paid-in capital of Jiujiang Commercial Bank will exceed 5 million yuan.

The investment amount is nearly 3 million yuan

"Industrial Bank will become the second largest shareholder of Jiujiang Commercial Bank in one fell swoop, and the first largest shareholder will still be Jiujiang Finance Bureau." The aforementioned sources said.

according to the data, Jiujiang Commercial Bank was officially opened on November 18th, 2 with the approval of the central bank, and its registered capital is 31.96 million shares, of which Jiujiang Finance holds 63 million shares, accounting for 2.26%, private enterprises hold 229.252 million shares, accounting for 73.66%, and natural person shares account for 18.9165 million shares, accounting for 6.8%.

Based on this calculation, after Jiujiang Commercial Bank increased its capital and shares this time, the number of shares corresponding to Industrial Bank's 2% share participation is 1.392 million shares, and the share participation amount is 291.1368 million yuan.

"Jiujiang Commercial Bank will become an important bank-bank cooperation platform for Industrial Bank in the central region." The above-mentioned person said, "At present, the total assets of Jiujiang Commercial Bank have exceeded the 1 billion mark and entered the sequence of commercial banks in medium-sized cities."

More importantly, Jiujiang Commercial Bank has started cross-regional operation, with outlets in Jiujiang City, Ruichang City, Dean County, xiushui county, Yongxiu County, Jiujiang County, duchang county and Lushan Mountain in Jiangxi Province, and is preparing to open Wuning County Branch.

at the end of 27, Jiujiang Commercial Bank also initiated the establishment and controlled the first rural bank in Jiangxi Province-Jiangxi Xiushui Jiuyin Rural Bank, which is located in Yining Town, xiushui county with a registered capital of 15 million yuan. Jiujiang Commercial Bank contributed 7.65 million yuan, accounting for 51% of the registered capital, and 13 other companies invested in shares.

Recently, Jiujiang Commercial Bank also participated in the subscription of 6 million shares of China UnionPay, which is still under examination and approval.

Previously, Li Renjie, president of Industrial Bank, publicly praised the business structure of Jiujiang Commercial Bank. He thought that Jiujiang Commercial Bank's business structure was 2% local public utilities, 4% micro-finance and 4% retail. "It is very good for city commercial banks, and ROE and ROA are not inferior to big banks".

By the end of 27, Jiujiang Commercial Bank had total assets of 8.6 billion yuan and realized total profits of 116.9 million yuan, an increase of 7.77 million yuan or 12.5%. The capital adequacy ratio was 13.5%, an increase of 2.55 percentage points over the end of last year; The non-performing loan ratio is .67%; At the end of the year, the number of cases in loan-to-deposit ratio was 59.29%. However, in the debt structure at the end of the year, deposits accounted for 87.82%, and securities repurchase financing accounted for 8.78%, indicating that its sources of funds are still mainly deposits and bond financing.

according to the regulatory rating results of national city commercial banks in 27 published by China Banking Regulatory Commission, Jiujiang Commercial Bank was rated as the second-class (first-class vacancy) for the first time, ranking 14th among 125 city commercial banks in the comprehensive regulatory rating of national city commercial banks, and the only one among the four city commercial banks in Jiangxi.

It is planned to go public next year

"Jiujiang Commercial Bank started the feasibility study of introducing strategic investors two years ago, with the purpose of improving management level and launching new financial products, not just for financing reasons." According to the aforementioned sources, the introduction of Industrial Bank this time focuses on its risk management level and the experience of leaping development from local banks, regional banks, national banks to listed public banks.

another reason is to increase the share capital and optimize the ownership structure. Last year, Jiujiang Commercial Bank increased its capital and shares, and its paid-in capital increased by 19 million yuan.

"After the Industrial Bank shares, it will improve the business development level of Jiujiang Commercial Bank as a strategic investor, and the next expansion will focus on the central region." The above-mentioned person said, "The goal of Industrial Bank is not only Jiujiang Commercial Bank, but also the city commercial banks and rural credit cooperatives that expand their destinations."

Previously, Industrial Bank has reorganized the acquisition of Foshan Commercial Bank as Foshan Branch, and established Industrial Harbin Branch through the acquisition of Xingtong Urban Credit Cooperative in Tonghe County, Harbin.

"It is the main direction for Industrial Bank to realize the rapid expansion of its banking network and business scale that the newly established institutions are synchronized with the merger and acquisition of shares." The above-mentioned person said.

In addition, Industrial Bank's goal of becoming a financial holding group is also accelerating. Following the establishment of a joint venture fund management co., Ltd. with NGAM and Jianfa (6153.SH), which holds 57% of the shares, it plans to establish a financial leasing company in Tianjin with a registered capital of 2 billion yuan.

and this time, the wishful thinking of Industrial Bank lies in the listing prospect of Jiujiang Commercial Bank.

"Jiujiang Commercial Bank is planning to change its name and plans to go public in China next year." The above-mentioned person said.

According to its disclosure, Jiujiang Commercial Bank has hired Debon Securities to start various listing counseling work.

Jiujiang Commercial Bank also disclosed in its 27 annual report that Jiangxi Tianhua Certified Public Accountants had been hired by Zhonglei Certified Public Accountants because they were not qualified for securities audit.

according to the business agreement signed by Jiujiang Commercial Bank and Zhonglei Certified Public Accountants, the audit will audit the reporting statements from 26 to 28 according to the new accounting standards, and make a simulation report for the full implementation of the new accounting standards to measure the accounting data after the implementation of the new accounting standards. At the same time, it will also conduct internal control audit and special tax review, and audit the compliance of various businesses. Laying the foundation for the next listing

The introduction of Industrial Bank this time indicates that Jiujiang Commercial Bank, the only local financial enterprise, has basically prepared for its domestic public listing.