Soon, Postal Savings Bank of China (1658.HK) will usher in a new chairman.
On August 20, according to the official news of China Post Group, relevant persons from the Central Organization Department announced that Zhang Jinliang was appointed as the director, general manager, and deputy secretary of the party group of China Post Group Corporation, and was removed from the positions of executive director and party committee member of China Everbright Group Co., Ltd.
Zhang Jinliang, 49, is a director of Everbright Group and president of China Everbright Bank.According to the Caixin reporter, he was investigated by the Organization Department of the Central Committee of the Communist Party of China in late July.On August 10, Caixin was the first to exclusively report the news that he will be the general manager of China Post Group.(See Caixin Media’s recent launch of an experimental item on the WeChat platform I Wen/Financial People middot; Things reported on August 10, 2018 that Postal Savings Bank of China is facing a coaching change)
According to the Caixin reporter, the appointment of the chairman of the postal savings bank has not yet been announced at the expanded meeting of the postal group's cadres held on the morning of August 20.But according to the convention, after going through the necessary procedures, Zhang Jinliang will succeed Li Guohua and concurrently serve as the chairman of Postal Savings Bank of China Post Group.For the first time, a professional banker is in charge of Postal Savings Bank.A stock executive commented so.
Zhang Jinliang is from Shandong. He graduated from Xiamen University in 1997 with a Ph.D. in Economics.After graduation, he worked in the Financial and Accounting Department of Bank of China. Over the years, he has served as the director of the IT Blueprint Implementation Office, the general manager of the Financial Management Department, and the president of the Beijing Branch.In May 2014, Zhang Jinliang was selected as a deputy cadre of the central management financial enterprise and served as the vice president of the Bank of China, in charge of finance, risk control, credit review, regulations and other departments.
In January 2016, Zhang Jinliang bid farewell to the Bank of China, which had been in business for nearly 20 years, and became the president of China Everbright Bank.Frankly speaking, Everbright Bank ranks in the middle of the joint-stock banks, and its profitability has been under pressure in recent years.However, in 2017, Everbright Bank successively issued 28 billion yuan of secondary capital bonds, 30 billion yuan of A-share convertible bonds, and 31 billion yuan of H-share private placements, replenishing capital on a large scale and laying the foundation for future business development..At the same time, the internal control management of China Everbright Bank has improved significantly, and no major risk events occurred throughout the year.
Many people in the industry praised Zhang Jinliang, saying that he is friendly, has outstanding ability, and possesses the excellent quality and character of a banker.Professional, thick, highly educated, rich experience.A senior executive commented.He is not only proficient in business, but also has an accurate grasp and understanding of policies; he is also a good man with a public heart.A Bank of China employee said.
According to the Caixin reporter, Zhang Jinliang has done research on monetary policy and its transmission mechanism, and has often thought deeply about the development direction of China's banking industry. Therefore, his promotion to the chairman of Postal Savings Bank this time is naturally a strength; but the challenge is alsoIt is quite difficult: one is how to lead the Postal Savings Bank of China to make steady progress in the current economic and financial situation; the other is how to undertake many other businesses of China Post Group.
The current strategy of Postal Savings Bank is relatively clear, that is, it is positioned as a large retail commercial bank, and insists on serving the community, serving small and medium-sized enterprises, and serving lsquo;Sannong rsquo;. The new head needs to continue to use the resources of Postal Savings Bank firmly and professionallyEndowment, to advance the bank according to the established strategy.A bank executive who is familiar with the situation of Postal Savings Bank of China once told Caixin reporter this way.In 2017, Postal Savings Bank issued 7.25 billion US dollars (nearly 50 billion yuan) of preferred shares to supplement core tier 1 capital.
Postal Savings Bank does have its unique advantages, such as more than 40,000 outlets, sufficient sources of deposits, and a relatively clean balance sheet, but these advantages are not core competitiveness.Taking outlets as an example, with the development of mobile Internet, too many physical outlets may become a burden; and if deposits cannot be converted into high-quality assets, the result can be imagined.A senior financial expert once reminded that Postal Savings Bank still needs to improve corporate governance and improve its own construction capabilities.
According to the 2017 annual report of Postal Savings Bank of China, the bank has a total of nearly 40,000 business outlets, including more than 8,000 self-operated outlets and nearly 32,000 agency outlets.But there is no free lunch in the world. For this reason, Postal Savings Bank paid nearly 70 billion yuan in agency fees to China Post Group, accounting for nearly 45% of operating income.
Due to inadequate overall risk control, PSBC has been involved in some major cases in recent years and has been heavily fined by regulators.For example, Wang Jianzhong, the former president of the Wuwei Wenchang Road Sub-branch of the Postal Savings Bank of Gansu Province, illegally obtained nearly 8 billion yuan in notes.According to the bank's annual report, the loss in this case was as high as nearly 6 billion yuan.The former China Banking Regulatory Commission publicly stated that the case exposed PSBC’s lack of internal control management, weak awareness of compliance, and serious violations of regulations, and the management of seals, contracts, accounts, and business premises was chaotic.■
