On November 23, Baixin Bank’s capital increase and share expansion plan was approved by the China Banking and Insurance Regulatory Commission, agreeing to issue 1.634 billion additional shares. In addition to the two old shareholders of China CITIC Bank and Baidu, which continued to invest in this capital increase, the Canadian Pension Fund Investment Company was introduced as a strategic investor to subscribe for 466 million shares. On November 26, Chen Longqiang, deputy chief strategy officer of Baixin Bank, stated on the bank’s media open day that Baixin Bank, the first state-controlled Internet bank in China, was later valued at about 12.6 billion yuan. The entry of the Canadian Pension Fund Investment Company this time is a signal that leading international investment institutions are optimistic about the development prospects of the domestic emerging economy. In the next three years, the main channel of Baixin Bank is consumer finance and industrial digital finance.
The number of users of Baixin Bank exceeded 48 million
In 2017, Baixin Bank, the first independent legal person direct sales bank, was approved to be established, with CITIC Bank and Baidu holding 70% and 30% of the shares respectively. "In layman's terms, banks run banks. We are the first state-controlled Internet bank." Chen Longqiang said.
Beiqing-Beijing Toutiao reporter learned that in the first half of this year, the sudden new crown epidemic put forward a "big test" for the "zero-touch" service and digital transformation of commercial banks. Baixin Bank invested against the trend, gave full play to the natural advantages of digital banking, increased investment in financial technology, and launched a variety of innovative products to increase customer acquisition. Up to now, the number of Baixin Bank users has exceeded 48 million, and the cumulative loan scale of Inclusive Credit has exceeded 300 billion yuan.
The cumulative number of visits to Baidu QuickPass exceeded 180 million
Since 2019, Baixin Bank and Baidu have continued to increase investment in digital finance, and officially launched the first domestic digital bank card-Baidu QuickPass this year . The Baidu QuickPass card integrates product functions such as payment, credit, wealth management, and rights and interests, and integrates comprehensive financial services into the content search scene of Baidu APP. It has a wide range of 1 billion users and can provide lower threshold and more convenient digital financial services. As of November 24 this year, the cumulative number of Baidu flash pass card visits exceeded 180 million, and the daily activity was close to 1 million.
It is understood that Baidu QuickPass Card is a typical application of Baixin Bank's open banking platform AIBANK Inside in the Internet ecosystem. Previously, AIBANK Inside was selected as the first batch of financial technology regulatory innovation pilots by the People's Bank of China in 2020. At present, AIBANK Inside has opened 1500+ API interfaces, docking with more than 80 platforms such as Baidu, iQiyi, Xiaomi, and JD.com.
Wallet Plus transaction scale surpassed 20 billion
In April this year, Baixin Bank and Everbright Wealth Management reached a strategic cooperation, and launched the first Internet change wealth management product since the implementation of new asset management regulations-Wallet Plus. It is reported that since the launch of Wallet Plus in May this year, the number of users and the scale of managed assets have maintained rapid growth, and the transaction scale has quickly achieved a breakthrough of 20 billion. The product has a 1 point investment, 0 yuan subscription, and redemption within 500,000 yuan to quickly arrive in the account within 2 hours. It can also support consumption. While lowering the threshold for public financial management, it greatly improves the financial service experience.
It is understood that Baixin Bank has also reached cooperation with several bank wealth management subsidiaries such as CNCB Wealth Management and Xingyin Wealth Management, and through its own financial technology capabilities, it has completed the pure online customer acquisition closed loop, which has realized the time from the 1.0 era of demand deposits, and then In the 2.0 era of baby products with currency funds as the bottom layer, the transition to the 3.0 era of change wealth management with bank wealth management products as an innovative breakthrough.
660 million yuan in "breeding loans" to support the breeding of more than 360,000 pigs
For a long time, small and micro enterprises and agriculture, rural areas and farmers have been the weak link in the implementation of inclusive finance, and the sudden attack of the epidemic in the first half of the year has exacerbated the financing difficulties of this group , The dilemma of expensive financing, coupled with the traditional financial services relying on the layout of offline outlets, it is difficult to reach effectively.
Baixin Bank's "Farming Loan", a financial product for agriculture, rural areas and farmers customized for pig farmers, has achieved a loan exceeding 100 million in 20 days since the first online loan. As of November 24, the "breeding loan" has achieved a loan scale of 663 million yuan for pig farmers, supported more than 360,000 pigs, and helped the pig industry "increase production and ensure supply." Among them, the number of loans granted to farmers in Hubei ranks first. In addition, Baixin Bank and China CITIC Bank issued a loan to Zhejiang Shilin Fluid Company through the online contactless method through the innovative model of “settlement collaborative financing” in early March.Help it resume work and production. Recently, Baixin Bank took the initiative to customize a “renewal without repayment” plan for the company, granting it a mid-to-long-term liquidity loan of 1 million yuan, helping the company solve the difficulty of temporary turnover of on-lending funds and stabilize production and operation.
content comes from Beijing headline client
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