Produced by Radar Finance | Edited by Zhang Kaijing | Deep Sea
One wave has not calmed down, but another wave has arisen.
Not long ago, two subsidiaries of Jiangxi Jimin Credible Group claimed that 2.8 billion yuan of the 3.3 billion yuan they had deposited in the bank mysteriously disappeared, but Bohai Bank responded that Jimin Credible Group Xin knew about this and made considerable profits from it. At present, both sides still insist on their own opinions.
Bohai Bank is not alone. On November 15, the listed company Keyuan Wisdom announced that its subsidiary Nanjing Keyuan Wisdom Energy Investment Co., Ltd. (hereinafter referred to as "Keyuan Wisdom Investment") deposited 40 million yuan in the Nantong Branch of Shanghai Pudong Development Bank without its knowledge. Next, it was misappropriated by the bank as a pledge guarantee for the acceptance bill issued by Nantong Ruihao International Trading Co., Ltd. (hereinafter referred to as "Nantong Ruihao").
What is even more surprising is that Keyuan Intelligent Investment’s self-examination found that it currently has a total of 345 million yuan in time deposits at the Nantong Branch of Shanghai Pudong Development Bank. In addition to the above 40 million yuan, there are also 255 million yuan. In pledge status.
In this regard, the relevant person in charge of the Nanjing Branch of Shanghai Pudong Development Bank stated that the two parties do have deposit and other business relationships.
At present, both parties have called the police.
Keyuan Wisdom reported to Shanghai Pudong Development Bank
Relevant information shows that Keyuan Wisdom is a leading domestic supplier of industrial automation and information technology, products and solutions, and Keyuan Wisdom is a national Well-known trademark, ranking among the top three in the country.
Keyuan Wisdom stated that in order to improve the company’s short-term fund use efficiency and make rational use of idle funds, Keyuan Wisdom Investment used its own funds of 40 million yuan to purchase the time deposit of Shanghai Pudong Development Bank Nantong Branch in November 2020 , the product expiration date is November 10, 2021.
However, after the deposit expired, Shanghai Pudong Development Bank did not pay out the money in time. After the company inquired, it was learned that the above-mentioned 40 million yuan deposit had been pledged and guaranteed by a bank acceptance bill issued for Nantong Ruihao on November 10, 2020. The reason why it could not be redeemed was because Nantong Ruihao failed to repay it in time. debt.
On this basis, Keyuan Wisdom further self-examined and found that the total time deposits purchased by Keyuan Wisdom Investment from Shanghai Pudong Development Bank Nanjing Branch reached 345 million yuan, including 190 million yuan of self-owned funds and raised funds. 155 million yuan; in addition to the expired unredeemed amount of 40 million yuan, there is also an unexpired amount showing a pledged status of 255 million yuan.
Judging from the tables published by Keyuan Wisdom, in addition to November 2020, it has deposited in December 2020, January, March, May, and July 2021 regularly, but "the company had no knowledge of all the above pledges."
Therefore, Keyuan Wisdom has reported the situation to the police and the Jiangsu Supervision Bureau of the China Banking and Insurance Regulatory Commission.
For Keyuan Wisdom, whose net profit attributable to its parent company has been around 100 million yuan in recent years, the pledge amount of 295 million yuan is not a small amount. The third quarterly report shows that as of the end of the reporting period, the amount of monetary funds on the company's books was 476 million yuan, and the net cash flow generated from operating activities during the year was -79.3534 million yuan.
It is worth mentioning that on November 16, a person from Keyuan Wisdom said that after the company discovered that the deposits had been used for pledge last Friday, it requested Shanghai Pudong Development Bank Nantong Branch to issue relevant materials that day, " The other party promised to reply to us as soon as possible, but has not yet received any supporting materials.”
The identity of the guaranteed party is a mystery
For this incident, Shanghai Pudong Development Bank Nanjing Branch is responsible. People said that Nantong Branch does have a deposit and other business relationship with Keyuan Smart Investment. Shanghai Pudong Development Bank Nantong Branch has made a criminal report to the public security organs on November 15 and provided relevant business information. It will actively cooperate with the public security organs’ investigation in the future.
In this case, the background of Nantong Ruihao, the guaranteed party accused by Keyuan Wisdom, is also confusing. From the public information, it is still unclear whether it has any connection with Shanghai Pudong Development Bank or Keyuan Wisdom. .
Tianyancha shows that Nantong Ruihao was established in 2014, and its business scope includes sales of non-ferrous metals, power tools, and hardware department stores; mechanical equipment processing; real estate brokerage, etc. The current actual controller of the company is Wang Weimin, and the legal representative, executive director, and general manager are Liu Tao. In the annual reports of the past many years, the company’s social security information was 0 people.
According to reports, Wang Weimin said in an interview that he had bought Nantong Ruihao for others before. Industrial and commercial change records show that on April 23, 2019, Nantong Ruihao’s registered capital expanded 10 times to 10 million yuan. The person in charge was changed from Zhou Xiansu to Wang Weimin. At the same time, Wang Weimin and Liu Tao also became new shareholders, and all original shareholders withdrew. .
Wang Weimin said that he had never participated in business management and had no knowledge of financing matters. He even did not know that he was still the major shareholder of Nantong Ruihao. He also revealed that the actual operator had promised to give a certain amount of benefits, but it had not been fulfilled, and Liu Tao was not the actual operator, and he did not know Zhou Xiansu, the legal person of the previous company.
Radar Finance found that in addition to serving as shareholders in Nantong Ruihao, Wang Weimin and Liu Tao also served as shareholders and directors of Jiangsu Juyishun International Trading Co., Ltd. Liu Tao was restricted from high consumption in April and June 2021.
Radar Finance tried to contact the Nantong Branch and Nanjing Branch of Shanghai Pudong Development Bank, but both parties stated that they were not aware of the factual progress and would make public announcements in the future.
Large accounts punished
Although all parties have not yet characterized the incident, internal control has become a common topic when talking about Shanghai Pudong Development Bank. Judging from the punishment experience, the fined matters almost cover credit, financial management and various asset businesses.
Shanghai Pudong Development Bank opened in 1993 and was listed on the A-share market in 1999. Until December 2000, it was the largest stock in the A-share market. However, times have changed. As of November 16, 2021, Shanghai Pudong Development Bank’s market capitalization was 256.2 billion yuan, ranking only fourth among A-share joint-stock banks. It is far from China Merchants Bank, which firmly ranks first and has a market capitalization of over 1 trillion.
Some analysts believe that the market value of Shanghai Pudong Development Bank lags behind that of China Merchants Bank, which is not unrelated to the company’s internal control issues. Among the major fraud cases in my country's banking sector in recent years, the Shanghai Pudong Development Bank Chengdu Branch's illegal lending case was the first to bear the brunt. The regulatory authorities characterized the case as "the amount involved was huge, the means were hidden, the nature was bad, and the lessons were profound."
The case report shows that in 2017, the Chengdu Branch of Shanghai Pudong Development Bank concealed non-performing loans and handled credit, interbank, financial management, letters of credit and factoring in violation of regulations by fabricating false uses, splitting credit, and ultra vires approval. Business, 77.5 billion yuan of credit was granted to 1,493 shell companies in exchange for relevant companies to contribute capital to bear the non-performing loans of Shanghai Pudong Development Bank Chengdu Branch.
For this reason, Wang Bing, the former president of the Chengdu Branch of Shanghai Pudong Development Bank, was "double fired", as many as 311 responsible personnel within the bank were held accountable, and Shanghai Pudong Development Bank was also fined 462 million yuan.
However, with this "big lesson", Shanghai Pudong Development Bank's internal control problems do not seem to have been fundamentally improved. Shortly after the China Banking Regulatory Commission reported this major case, Shanghai Pudong Development Bank was fined over 58 million yuan by the China Banking Regulatory Commission for serious violations of prudent operating principles in internal control, inflated deposits, illegal use of wealth management funds, providing false explanation materials, and failure to cooperate with investigations and evidence collection.
According to statistics, Shanghai Pudong Development Bank was fined 24 times in 2018, with a total fine of 523 million yuan, and 209 employees were punished. Both the amount and number of fines ranked first in the banking industry.
In 2019, Shanghai Pudong Development Bank was fined a total of 64 times, with a total fine of 23.893 million yuan; in 2020, Shanghai Pudong Development Bank received 55 fines, with a total fine of 39.23 million yuan, the highest number of fines in a row. Ranked first among joint-stock banks in three years.
The Nantong Branch of Shanghai Pudong Development Bank that was involved this time has also experienced multiple administrative penalties.
In 2019, the branch was fined 210,000 yuan by the Jiangsu Municipal Supervision Bureau due to unfair pricing by operators or industry associations; in 2020, the branch was also fined 210,000 yuan for untrue trade backgrounds in bill business, loan tying, operations on behalf of customers, and illegal sales. The company was fined 1 million yuan by the Nantong Supervision Bureau of the China Banking and Insurance Regulatory Commission.
Incomplete statistics show that since the beginning of 2021, Shanghai Pudong Development Bank has received 40 fines, with a total fine of 94.24 million yuan. Among them, in July, the China Banking and Insurance Regulatory Commission conducted a special on-site investigation of Shanghai Pudong Development Bank’s financial business and fined it 69.2 million yuan for 31 violations of laws and regulations.
From a fundamental point of view, as of the third quarter report of 2021, Shanghai Pudong Development Bank is one of the few banks among the more than 30 banks listed on the A-share market that has recorded negative revenue growth. If net profit is included If there is negative growth, then there are only two banks on this list: China Minsheng Bank and Shanghai Pudong Development Bank.
Radar Finance noted that the decline in Shanghai Pudong Development Bank’s performance is related to its increased provision for provisions. The financial report shows that the bank accrued credit impairment losses of 21.195 billion yuan in the third quarter, an increase of 26.28% year-on-year.
In addition, Shanghai Pudong Development Bank’s net interest income, net fees and commission income fell sharply year-on-year, which also had an adverse impact on performance.
Why do bank compliance problems occur frequently?
It is worth mentioning that Shanghai Pudong Development Bank, which was involved in irregularities due to misappropriation of deposit certificates and pledges, is not an isolated case.
Not long ago, a similar incident occurred at the Nanjing Branch of Bohai Bank. The deposits were also misappropriated and used for third-party pledge guarantee. The case between Bohai Bank and Jimin Credible Group was even more dramatic.
First of all, when the bank had repeatedly conducted illegal operations, the legal representative of Shanhe Pharmaceutical, a subsidiary of Jimin Trust, suddenly received a call from the sales department personnel to verify the willingness to pledge the deposit receipts, and Therefore, we learned the details of the pledged deposits of 2.8 billion.
After the incident unfolded, both parties insisted on their own opinions. Bohai Bank pointed out that Jimin Credibility knew about this and received additional income from the guaranteed company that was three times the bank's deposit interest; however, Jimin Credibility firmly denied it and revealed that many employees of the Nanjing Branch of Bohai Bank, including Guan Pengcheng, assistant general manager of the business department, have been subject to coercive measures by the police for suspected economic crimes.
Since then, the International Department of the China Securities Regulatory Commission has also asked Bohai Bank to provide feedback on six aspects including related transaction risks and asset quality. However, so far, the outcome of the case is still pending.
Why have listed bank companies been exposed to deposit certificate pledge incidents in a short period of time? Are the related illegal operations a coincidence, or have they become commonplace in the industry?
Some people believe that this was the accidental bankruptcy of a commercial conspiracy, rather than the misappropriation of deposits without the depositors' knowledge. Specifically, in similar incidents, depositors can use idle funds to create additional income; banks can increase the scale of deposit business; third-party guaranteed companies can use pledge guarantees for further operations such as publicity and fund-raising, and the funds are only After a circle of flow among the three parties, a closed loop of management and control is formed.
After all, many practitioners have revealed that handling business such as deposit certificate pledge requires a seal, but the official seal is not easy to forge. The bank will reserve the company's seal in advance, and each time it handles business, a machine will be required to compare it with the reserved seal.
In this case, if the bank's authorization is forcibly passed, it may involve multiple people committing the crime, and it may even involve engraving fake seals and preparing fake materials.
However, the above views have not been officially certified. Dong Ximiao, chief researcher of China Merchants Union Financial, said in an interview that there are still many doubts about the recent incidents at these two banks, and it is not yet easy to draw conclusions.
In this regard, the Economic Daily mentioned in the article "Bank Internal Control Cannot Be in Existence" that research found that bank staff do not understand the relationship between risk prevention and control, internal control and compliance management. Failure to do so is one of the main reasons for loopholes in internal control management. Some middle-level banks’ pursuit of business performance is “quick and quick”, resulting in internal control and compliance management being involuntarily downplayed.
In reality, some grassroots staff often believe that acting in accordance with the rules is internal control and risk prevention. Sometimes even if risks are discovered, they may not pay attention to them or report them.
To solve this problem, not only banks should further improve their internal control systems and continue to improve internal control effectiveness, but also external supervision should be further stepped up. "Only through joint efforts from both inside and outside can we better solve the problems existing in bank internal control management and prevent and resolve financial risks from the root cause."
Note: This article is original by Radar Finance (ID: leidacj). Unauthorized reproduction is prohibited.
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Will 600000 (Shanghai Pudong Development Bank) collapse: Collapse... Definitely not
Will Shanghai Pudong Development Bank collapse?: Banks are also enterprises, and they can certainly fail if they are not managed well. But at present, banks It is implicitly guaranteed by the national credit, and generally speaking, it will not go bankrupt. In the future, after the deposit insurance system is introduced, bank bankruptcy regulations will also be promulgated, so bank bankruptcy may really occur
Shanghai Pudong Development Bank will Will it fail?: Theoretically, any domestic commercial bank is a financial enterprise, and there is a possibility of failure. However, under the current circumstances, Shanghai Pudong Development Bank is a national joint-stock bank, and the possibility of failure is very small. It is also possible to fail. Those newly established local small commercial banks are ranked first.
Is Shanghai Pudong Development Bank bankrupt? -: If rural banks pay deposit insurance, insurance companies with a value of less than 500,000 will accompany them
Shanghai Pudong Development Bank Will it go bankrupt? -: You are too naive. Think about it carefully. The income of Shanghai Pudong Development Bank in the first nine months of this year reached 150. Let’s talk about such a big bank...
Is Shanghai Pudong Development Bank a state-owned enterprise and will it go bankrupt? -: Shanghai Pudong Development Bank is a listed company controlled by the Shanghai State-owned Assets Supervision and Administration Commission. Theoretically, commercial institutions are at risk of bankruptcy.
What should you do if Shanghai Pudong Development Bank collapses? -: You may have thought too much about this, because Shanghai Pudong Development Bank The bank is one of the 12 joint-stock banks in the country. It is very powerful. The chance of bankruptcy is very small. Its annual income is also among the top, so there is no need to worry at all.
Is Shanghai Pudong Development Bank a state-owned enterprise and will it fail?
?: It is a state-owned enterprise and a listed joint-stock bank. It will not go bankrupt.
Is Shanghai Pudong Development Bank a formal bank? Is there any possibility of bankruptcy? : It is a formal bank. Generally there is no possibility of bankruptcy. Shanghai Pudong Development Bank is a bank in Pudong, Shanghai The abbreviation of Development Bank. Shanghai Pudong Development Bank Co., Ltd. (hereinafter referred to as: Pudong Development Bank) was established with the approval of the People's Bank of China on August 28, 1992, opened on January 9, 1993, and was listed on the Shanghai Stock Exchange in 1999 (Stock trading code: 600000) is a state-controlled national joint-stock commercial bank with its head office in Shanghai. Adhering to the business philosophy of "adhering to integrity and creating excellence", Shanghai Pudong Development Bank actively explores financial innovation, continues to expand its asset scale, and continuously enhances its operating strength. . At the end of December 2010, the company's total assets reached 2,162.1 billion yuan, the balance of domestic and foreign currency loans was 1,146.5 billion yuan, the balance of various deposits was 1,638.7 billion yuan, and the after-tax profit was 19.076 billion yuan. Since its listing, Shanghai Pudong Development Bank It has been rated as "Top 100 Listed Companies in China" by "Asia Weekly" for many consecutive years.