The State Councils secret visit to financial institutions such as ICBC and Ping An are exposed

category:Finance
 The State Councils secret visit to financial institutions such as ICBC and Ping An are exposed


From the content of the circular, three banks and one insurance company are involved in the typical problems

2u3001 The group finance department of the head office of Minsheng Bank and some branches illegally charge small and micro enterprises with loan commitment fee, bank acceptance bill exposure management fee, corporate account overdraft business commitment fee and other two prohibitions and two restrictions; Minsheng Bank sells personal accident insurance with higher insurance rate to customers under the premise of existing mortgage, and withdraws high agency fees

3u3001 Ping An P & W, a subsidiary of Ping An insurance (Group), cooperates with industrial bank to issue inclusive loans to small and micro enterprises, compulsorily bundle and sell insurance, collects high service fees, and pushes up the comprehensive financing cost.

Among them, the loan assistance business of Ping An Pratt & Whitney and Industrial Bank has attracted much attention from the market. Ping An Pratt & Whitney Financing Guarantee Co., Ltd., a subsidiary of Ping An insurance (Group) Co., Ltd., compulsorily sells loan guarantee insurance of Ping An Property Insurance Co., Ltd. of China when it cooperates with industrial bank to carry out inclusive loan business. It does not provide other credit enhancement methods or products of other insurance companies for customers to choose from, which infringes on consumers right of independent choice and fair payment Change of power. Third party financing is ignored. Industrial Bank provides all loan funds with an annual interest rate of 6.32% uff5e 7.6%; Ping An Property Insurance Co., Ltd. of China undertakes the performance guarantee liability of 99% of the loan amount, with the nominal monthly premium rate of 0.12%; Ping An Pratt & Whitney Financing Guarantee Co., Ltd. is responsible for receiving customers and collecting non-performing loans, and undertaking joint guarantee for 1% of the loan amount, with the nominal monthly guarantee rate of 0.33% and the nominal monthly service rate of 0.33% The service rate is 0.09% - 0.65%.

For example, in May 2019, a clients loan principal is 3.82 million yuan, the term is 3 years, and the loan interest rate is 7.6%. Industrial Bank is expected to charge loan interest of 464000 yuan, China Ping An Property Insurance Co., Ltd. is expected to charge insurance premium of 163400 yuan, and Ping an Pratt & Whitney Financing Guarantee Co., Ltd. is expected to charge 4538 yuan of guarantee fee and 811400 yuan of service fee The total financing cost was 22.16%. Among them, Ping An Pratt & Whitney Financing Guarantee Co., Ltd. charges 56.53% of the comprehensive financing cost.

Previously, the CIRC issued the notice on further standardizing credit financing charges and reducing the comprehensive cost of enterprise financing (hereinafter referred to as the notice), which clearly requires that except for specific standardized products, no credit enhancement and professional service institutions shall be designated for enterprises. This means that the loan assistance business can not specify the relevant guarantee institution, but should have multiple credit enhancement methods or products to choose from.

Sun Haibo, President of the Institute of financial supervision, said that although this case seems to be a very normal loan assistance business, the regulatory concern is that the comprehensive rate is too high by 22%, and there is no other credit enhancement product option for customers. The core of the circular is that it violates the regulatory spirit of the notice on reducing the financing cost of small and micro businesses. Sun Haibo believes that although licensed financial institutions do not need to apply the upper limit requirement of 4 times lpr15.4% loan interest rate, financial institutions need to have their own political consciousness and can not raise the financing cost too high in disguise. This case notification is of great guiding significance to local regulatory bureaus. Loan aid institutions including Ping An Pratt Whitney and other banks have similar problems.

According to the supplementary notice on supporting commercial banks to further improve the financial services of small and micro enterprises, commercial banks are not allowed to charge commitment fees and fund management fees for loans to small and micro enterprises except syndicated loans, and strictly restrict the collection of financial consulting fees and consulting fees for small and micro enterprises.

In terms of ICBC, from January 2017 to October 2019, a total of 9 branches illegally charged 22.8487 million yuan for two prohibitions and two restrictions. They are: Jiangxi branch, Hebei Branch, Henan Branch, Shanghai Branch, Jiangsu Branch, Sichuan Branch, Guangxi Branch, Liaoning branch and Shandong Branch of ICBC illegally charged 20 small and micro enterprises with loan commitment fee, investment and financing consulting fee, etc.

From September 2016 to November 2019, Minsheng Bank charged 43.6953 million yuan of two prohibitions and two restrictions from small and micro enterprises.

In addition, Minsheng Bank also has the problem of raising the accident insurance handling fee: from September 2016 to November 2019, a total of 101900 customers of personal business loans for small and micro enterprises (the guarantee method is mortgage) purchased the accidental injury insurance of borrowers sold by the bank, and 67% of the borrowers accidental injury insurance premium amount / loan amount was no less than 0.40%. The bank and the vast majority of insurance companies through the head to head cooperation agreement, agreed that the agency service rate is 50% - 80% of the premium.

In fact, as early as the end of May last year, the general office of the China Banking and Insurance Regulatory Commission (CIRC) issued the notice on carrying out the special governance work of the banks illegal enterprise related service charges, and decided to carry out the special governance work of the banks illegal enterprise related service charges from June 2019, resolutely investigate and deal with the illegal enterprise related service charges, and grasp the public exposure of typical cases. Clear inspection points include: loan to deposit or deposit loan linkage, tied sale of financial products, insurance, funds and other financial products, illegal collection of market adjustment price service fees, etc.

The cbcirc said that from the inspection and inspection, the relevant bancassurance institutions and loan aid institutions did not fully understand and implement the national major decision-making and deployment of deepening financial services for small and micro enterprises and reducing the comprehensive financing cost of small and micro enterprises. They made flexibility and played an evasive role in the implementation of policies, and failed to fully fulfill their social responsibilities, and did not really implement the preferential policies for small and micro enterprises The principle of fee reduction and profit sharing is representative and typical. All banking and insurance institutions and loan aid institutions should draw lessons from one example and draw inferences from other examples, conscientiously implement the decision-making and deployment of the Party Central Committee and the State Council, vigorously protect and stimulate the vitality of market entities, strengthen financial support for stable enterprises, and actively relieve difficulties for enterprises, so as to significantly improve the loan availability of small and medium-sized enterprises and significantly reduce the comprehensive financing costs We should strictly implement the relevant provisions of the notice on further standardizing credit financing charges and reducing the comprehensive cost of enterprise financing issued by six departments such as the China Banking and Insurance Regulatory Commission, earnestly safeguard the right to know, the right to choose independently and the right to fair trade of loan enterprises. We should not use the dominant position of the market to attach unreasonable conditions, force bundling sales, transfer costs and illegal charges to increase the concealment of small and micro enterprises in disguise We should strengthen corporate governance, implement the main responsibility for the management of branches or subsidiaries, strengthen the management of cooperation with third-party institutions, comprehensively evaluate the comprehensive financing costs of loan assistance and credit enhancement, improve the comprehensive business performance evaluation methods, strictly enforce internal control and audit supervision, and prevent collusion and joint damage to the interests of small and micro enterprises. For those who ignore the ban and violate the rules against the wind, the financial regulatory authorities will find out and deal with them together, and will never tolerate them. Source: Chen Hequn, editor in charge of Finance and Economics_ NB12679

The cbcirc said that from the inspection and inspection, the relevant bancassurance institutions and loan aid institutions did not fully understand and implement the national major decision-making and deployment of deepening financial services for small and micro enterprises and reducing the comprehensive financing cost of small and micro enterprises. They made flexibility and played an evasive role in the implementation of policies, and failed to fully fulfill their social responsibilities, and did not really implement the preferential policies for small and micro enterprises The principle of fee reduction and profit sharing is representative and typical. All banking and insurance institutions and loan aid institutions should draw lessons from one example and draw inferences from other examples, conscientiously implement the decision-making and deployment of the Party Central Committee and the State Council, vigorously protect and stimulate the vitality of market entities, strengthen financial support for stable enterprises, and actively relieve difficulties for enterprises, so as to significantly improve the loan availability of small and medium-sized enterprises and significantly reduce the comprehensive financing costs We should strictly implement the relevant provisions of the notice on further standardizing credit financing charges and reducing the comprehensive cost of enterprise financing issued by six departments such as the China Banking and Insurance Regulatory Commission, earnestly safeguard the right to know, the right to choose independently and the right to fair trade of loan enterprises. We should not use the dominant position of the market to attach unreasonable conditions, force bundling sales, transfer costs and illegal charges to increase the concealment of small and micro enterprises in disguise We should strengthen corporate governance, implement the main responsibility for the management of branches or subsidiaries, strengthen the management of cooperation with third-party institutions, comprehensively evaluate the comprehensive financing costs of loan assistance and credit enhancement, improve the comprehensive business performance evaluation methods, strictly enforce internal control and audit supervision, and prevent collusion and joint damage to the interests of small and micro enterprises. For those who ignore the ban and violate the rules against the wind, the financial regulatory authorities will find out and deal with them together, and will never tolerate them.