4 ambush venture capital bank holding over 10% regulatory storm clinging to the door of rude people

Click to view the regulatory documentation requirements, the same controller by holding a bank financial products shall not exceed 5%, the implementation of transmissive supervision of major shareholders。Future, venture capital want to be "savage" attack bank recently increased the difficulty of the door, issued a "Notice of the General Office of China Banking Regulatory Commission to do commercial bank equity management Interim Measures for the implementation of related work" and "the General Office under the China Banking Regulatory Commission on Regulating the regulators notification report matters of commercial bank shareholders' two supporting documents (hereinafter referred to as "complementary" notice "")。Documentation requirements, a single investor, the issuer or manager and the actual controller, affiliates, control persons acting in the same bank financial products hold more than 5% of the shares, set aside a year for rectification。  Comprehensive sent the last annual report and three quarterly data, the "Investor News" reporter Statistics found that in the current A shares of 26 listed banks, the stake Merchants Bank, Shanghai Pudong Development Bank, Minsheng Bank and Industrial Bank this four banks over 5% of the shareholders, the emergence of the people's insurance Group, Ampang insurance and life insurance's financial DS-rich product figure。  In this connection, the "Investor News" reporter to the parties concerned were asked to verify and, most agencies did not give a response, there are a number of banks to the Annual Report 2017 has not yet announced refused to disclose the current changes in equity。  Equity Bank to put on the "magic" January 5 this year, commercial banks in order to strengthen equity management, standardize the behavior of commercial banks shareholders, regulators make up the short board, issued a "commercial bank equity Interim Measures" (hereinafter referred to as the CBRC "approach" ), which is a clear range of shareholders, major shareholders to address the problem of abuse of shareholders' rights, the establishment of intervention operations and initiatives red line caused by market concern。  "Rules" display, the same investors and related parties, persons acting as major shareholder of the number of shares shall not be more than two commercial banks, or controlling the number of commercial banks not more than one。The main shareholder here defined as "possession or control of commercial banks more than 5% of the shares or voting rights, or the total amount of capital or total shares held less than 5%, but have a significant impact on the Management of Commercial Bank shareholders。"Subsequently, the stock of shareholders to focus on resolving regulatory issues and implement improvement, issued by the regulators complete" notification "shows that financial products can hold shares of listed commercial banks, but a single investor, the issuer or manager and the actual controller, related parties, persons acting in control of financial products total shares held by the same commercial bank shall not exceed 5% of the total shares of the commercial bank。Commercial banks not to issue major shareholders, management or other financial products through the same means of control held by commercial banks shares。  For rectification period, regulators also give a clear, supporting the "notice" requirement, in principle, should be on the date of the "measures" the implementation of the completion (ie, until January 5, 2019) within one year of corrective。  In addition, commercial banks shareholders and related parties, or persons acting alone or together hold a total stake of the total capital of commercial banks more than 1%, 5% or less, it should be through commercial banks to 10 working days after receiving the respective equity CBRC or its representative offices report。  Regulators repeatedly said in public: "In the commercial bank equity management, must implement the principle of penetration, improve the transparency of ownership, implicit norms and shareholders holding shares on behalf of the phenomenon."。CBRC in supporting the "Notice" answered reporters' questions in the next focus of consolidation, which refers to "the small and medium commercial banks and shareholders equity as key elements of corporate governance, included 2018 site inspection plan。"4 banks face rectification So, what will be the equity of commercial banks face a rectification of it?As of March 15, only Ping An Bank released the 2017 Annual Report, the latest disclosure of the ownership structure, other listed banks in 2017 three quarterly statistics point of view, China Merchants Bank, Minsheng Bank, Shanghai Pudong Development Bank and Industrial Bank are present in the same the company's products to its financial stake of more than 5% of the phenomenon, and have reached more than 10%。  Specifically, Ampang Insurance's "traditional products" held by China Merchants Bank 10.72% of the shares; Ampang Insurance's "Healthy investment portfolio", "traditional products", "traditional" were holding Minsheng Bank 6.49%, 4.4 and 56%.49% of the shares, the total stake to 15.54%; DS rich life Life's "traditional products", "capital", "universal H" respectively held by Shanghai Pudong Development Bank 9.47% 6.01% and 4.33% of the shares, a total of 19 holdings.81%, the highest proportion of bank holdings of financial products; In addition, PICC's "ordinary insurance products" and PICC Life's "a risk bonus", "universal insurance" were held by the Industrial Bank 4.56%, 3.86%, 2.28% of the shares, the total holdings of related parties 10.7%。These products are found in the top ten shareholders in the bank。  Guard against financial risks with conducting business difficult to see the proportion of equity held by banks overrun financial products all insurance funds。Why risk capital so banks prefer?South China, who asked not to be named, told the "Investor News" reporter, currently half of bank shares listed dispersed to the venture capital opportunities, many of them are party funds coveted banking license; secondly, bank stocks overall valuation is not high, getting good earnings expectations, the banking sector in 2017 rose more than 14%, has become the subject of venture capital chasing investment; moreover, bank stocks are mostly large-cap stocks, funds can be achieved placards and not that much, regarded as one of venture capital。  In fact, rumors of consolidation of venture capital holdings of banks have long。Earlier media reports said, as early as mid-2017 in the first half, Pong Group have left ICBC, China Construction Bank, Agricultural Bank of China listed the top ten shareholders。In November the same year, market rumors the regulatory requirements in Ampang Group transfers the Minsheng Bank and China Merchants Bank shares, the stake to up to 5%。To reduce the impact on the market, the regulatory authorities recommend Pong Group by way of withdrawal or non-public holdings。Currently, regulators are helping to find the right Ampang stake then set side。  In this regard, CSC analyst Yang Rong in the study reported that regulators intent on the one hand is to reduce the likelihood of financial risk of infection with the industry, on the other hand is an investment in long-term value of the bank's funding guide。  While rectification, regulators, commercial banks are also shareholders of the non-compliance of the credit limit has been restricted。Circumstances require commercial banks before the completion of the rectification, not a sequel or a new credit business, aimed at implementing the association between listed banks and shareholders to prevent transactions, transfer of benefits。  Although all parties involved are on the rectification to remain silent, but the industry still believe that this is conducive to the development bank。"Regulators will set the 5% of the placards line of financial products investment ceiling, both to prevent a similar re-staged 'Po Wan dispute' highly leveraged takeovers, but also reduces the risk of related party transactions between the bank and the shareholders of。"The analysts said。  Related reports