On July 10, 2018, Jiujiang Bank was officially listed on the main board of the Hong Kong Stock Exchange.
Location: | Hong Kong | Category: | Finance |
Jiujiang City Mayor Xie Yiping ( First from the right) and Song Leiming, deputy secretary-general of the Jiangxi Provincial Government (first from the left), sound the listing gong. Photo: Zhou Zhiwei
On the morning of July 10, 2018, Jiangxi Jiujiang Bank, an important legal person financial institution in the province, was successfully listed on the main board of the Hong Kong Stock Exchange. Nearly a hundred guests including provincial and municipal leaders witnessed this historical moment. So far, Bank of Jiujiang has become the second financial company in Jiangxi Province and the first financial company in Jiujiang City to land in the Hong Kong capital market. This is also another fruitful result achieved after Jiangxi Province launched the "Azalea Action" for corporate listings.
Jiujiang Bank, formerly known as Jiujiang Commercial Bank, was formed from eight urban credit cooperatives in Jiujiang City; it was established on November 18, 2000. Bank of Jiujiang has branches in Guangzhou, Hefei, Nanchang, Ji'an, Fuzhou, Yichun, Jingdezhen, Shangrao, Ganzhou, Pingxiang, Xinyu, Yingtan, and Ganjiang New District The branch has 40 directly affiliated sub-branches under the jurisdiction of the Bank of China in Jiujiang, and initiated the establishment of 20 rural banks in Xiaolan, Zhongshan, Guangdong, Daxing in Beijing, Rizhao, Shandong, and Liuhe, Nanjing, as well as 207 traditional branches (including village banks) and 93 community branches. There are 10 small and micro branches.
Jiujiang Bank Chairman Liu Xianting (first from right) exchanges gifts with the Hong Kong Stock Exchange. Source: Sohu website
Jiujiang Bank’s revenue in the first half of 2021 was 4.929 billion yuan, net profit was 1.129 billion yuan, and net interest income reached 4 billion Yuan.
Source: Xinhuanet, Baidu Encyclopedia
Note: "Today in Jiujiang History" on July 5th will be released on the morning of July 10th.
The author does not care about money, spends less money, does not deal with banks, and has almost no knowledge in finance and economics. Therefore, when writing this article, I feel unable to start. However, this series uses the value and influence of the event as the standard, and large enterprises and institutions must always choose a day to make it appear. Finance, taxation and finance are major issues. Among the contemporary enterprises and institutions in Jiujiang, the only one I can think of is the Bank of Jiujiang. Indeed, there are no other major events. I don’t remember anyone robbing banks.
And Jiujiang Bank is really good. I didn't know it before. After all, it's just a local bank, and Jiujiang is not a big city. How big can a local bank be? I heard in the past that the service fees of Bank of Jiujiang are very low. It will waive the handling fees charged by many big banks. It is common for those who have children studying in other places to apply for a supplementary card for their children. There is no handling fee for transferring and withdrawing money. It seems that they don't accept them anymore. The four major banks used to be really bad.
later spread a lot in various places. Branches of Bank of Jiujiang can be seen in many cities in the province. It is obvious that its business scope is quite large. Later, when I saw the Jiujiang Bank sign in Guangzhou, I felt strange. Someone told me that Bank of Jiujiang has several branches in Guangzhou. Don’t underestimate it. It ranks very high among the city banks in China.
Source: Sohu.com
Bank of Jiujiang was formerly known as Jiujiang Commercial Bank. In October 2008, it was renamed Bank of Jiujiang (full name "Bank of Jiujiang Co., Ltd."). After investing in Industrial Bank , its strength has been enhanced and its business categories and scope have also been expanded. In the following two years, it opened branches in Nanchang, Ji'an, Fuzhou and other places, realizing cross-city and regional operations. In 2010, Jiujiang Bank Hefei Branch opened, taking an important step in cross-provincial regional operations. It was also the first urban commercial bank in Jiangxi Province to set up a branch outside the province. In March 2011, Bank of Jiujiang Guangzhou Branch opened, becoming the first city commercial bank in a prefecture-level city outside the province to enter the first-tier city of Guangzhou. In November 2015, we took the lead in achieving 100% coverage of all districts and cities in Jiangxi Province.At this time, Jiujiang Bank already had the appearance of a provincial bank.
In July 2018, the British "Banker" magazine announced the ranking of the top 1000 global banks in 2018. Bank of Jiujiang ranked 372nd among global banks and 64th among national banks. This is Bank of Jiujiang's highest ranking in the magazine so far. That month, Bank of Jiujiang was successfully listed on the main board of the Hong Kong Stock Exchange.
In September 2019, it was successfully shortlisted for the "Top 500 Chinese Service Enterprises in 2019", ranking 402nd.
In March 2020, China Banking Association released the "2019 China Bank Top 100 List", with Bank of Jiujiang ranking 52nd.
Jiujiang Bank Headquarters Building Photographed by the author in January 2022
It should be said that Jiujiang Bank, located in third- and fourth-tier cities, has performed well among local commercial banks, and is only ranked behind Jiangxi Bank in this province. In July 2018, Jiujiang Bank was listed in Hong Kong, and Jiangxi Bank was also listed in Hong Kong a month ago. The performance of Bank of Jiujiang is consistent with the commercial status of the city of Jiujiang in the province and far exceeds that of other prefecture-level commercial banks.
Jiujiang Bank has made a big news in the past two years, not because of its outstanding business performance, but because of an unseemly "betrothal gift loan". On March 16, 2021, Jiujiang Bank launched a loan product called Betrothal Gift Loan. Its slogan is "Don't worry about the cost of betrothal gifts, you can get stable happiness with a loan." The maximum loan amount is 300,000 yuan, the maximum loan period is 1 year, and the annual interest rate is as low as 4.9%. Application conditions require that you are over 22 years old, have worked continuously for no less than 1 month, and one of the couple must be a regular employee of an administrative institution.
In fact, "betrothal gift loan" is just a skin of civil servant loan, and there is no problem in law. Civil servants are the best customers for bank loans, and the payroll banks are eager to get you to borrow a lot of money. However, the publicity stunt of "betrothal gift loan" is really ugly. The so-called eating looks ugly means that you can eat it, but please don't gobble it up in front of me and turn around, can't you?
Picture source: People's Daily
Jiangxi's bride price is so high that it ranks first in the country. If the bank adds leverage , it would be unseemly to put it on the table. Civil servants can borrow 300,000 yuan at will, but you can't write foot massage as the reason for the loan, right? Banks should not be too embarrassed, and customers should be decent too.
The "betrothal gift loan" caused a stir and was criticized verbally and writtenly by all parties, including top official media. For something so eye-catching and without any political risk, I would definitely take part in it and show that I care about people's livelihood. Bank of Jiujiang claims that this product has not been launched, but the PPT made by the planners has been leaked, and the relevant personnel have been severely dealt with. Maybe it was the work of temporary workers.
The author thinks that the idea of "betrothal gift loan" is good, and there must be market demand. In some counties below Jiujiang, the bride price is ridiculously high. I have students who had to break up with their girlfriends because their parents demanded too much, and some even got divorced because of conflicts. The author once lent money to a friend, but the other party just wanted to pay for the bride price. The girl’s parents still wouldn’t give her a penny even though she was pregnant. At that stage, young people are under too much pressure. If they can't get a loan from the bank, they have to look for private loans. The customs in rural Jiangxi are like this, and there is no point in resisting, unless you marry a girl from the city, such as a girl from Jiujiang City, who is basically a cheater.
There is nothing wrong with this product of Bank of Jiujiang. It's just that you want to eat well and I want to be decent too. There are still things to do to save face.
In August 2021, half a year after the "betrothal gift loan" crisis, Jiujiang Bank was heavily fined 6 million yuan by the competent authorities.
"Today in the History of Jiujiang" is a series of short articles introducing local history. Each article selects an event that occurred on that day or month that has clear historical records, and is accompanied by related photos, news pictures, literature and books and other image materials, and also Make appropriate comments on the cause and impact of the incident. Due to the limited level of the author and incomplete information, there must be fallacies and inappropriate selections. I sincerely ask for criticism and correction.
