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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China Minsheng Banking Corp., Ltd.    600016   CNE0000015Y0

CHINA MINSHENG BANKING CORP., LTD.

(600016)
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China Regulator Fines Midsize Banks, Asset Manager

09/04/2020 | 05:22am EST

China's banking regulator on Friday released a raft of penalties on four midsize banks and an asset management company totaling over $46 million.

China Minsheng Banking Corp. was fined 104.9 million yuan ($15.3 million) for 30 violations, including illegally providing loans to property developers, offering credit to local governments and failure to disclose financial information, according to statements by the China Banking and Insurance Regulatory Commission. Eight executives of the Beijing-based lender received warnings and fines of CNY50,000 each from the regulator.

China Zheshang Bank Co., a city commercial bank based in eastern China, was fined CNY101.2 million for moving assets off book and providing loans to property developers and land sales projects.

China Guangfa Bank and Hua Xia Bank Co. were fined CNY92.8 million and CNY1.1 million, respectively, for violations of rules covering wealth management products, loan issuance and internal controls.

Meanwhile, China Huarong Asset Management Co., one of the country's largest state bad banks, received a CNY20.4 million penalty for offering loans to individual borrowers and illegally purchasing soured assets from financial institutions.

The penalties on medium-sized banks came after two of China's top four banks--China Construction Bank Corp. and Agricultural Bank of China Ltd.--received hefty fines last week, as Beijing moves to ward off financial risks after easing its lending spigot to stimulate the economy earlier this year.

 

Write to Singapore editors at singaporeeditors@dowjones.com

 

Stocks mentioned in the article
ChangeLast1st jan.
AGRICULTURAL BANK OF CHINA LIMITED -0.98% 3.02 End-of-day quote.6.34%
BANK OF CHINA LIMITED 0.36% 2.78 End-of-day quote.4.91%
CHINA CONSTRUCTION BANK CORPORATION -0.64% 6.22 End-of-day quote.5.60%
CHINA HUARONG ASSET MANAGEMENT CO., LTD. -2.86% 1.02 End-of-day quote.18.60%
CHINA MINSHENG BANKING CORP., LTD. -0.95% 5.22 End-of-day quote.0.38%
CHINA ZHESHANG BANK CO., LTD -0.25% 3.93 End-of-day quote.3.69%
HUA XIA BANK CO., LTD. -1.11% 6.24 End-of-day quote.-0.16%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.28% 6.46319 Delayed Quote.-0.03%
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Financials
Sales 2020 191 B 29 481 M 29 481 M
Net income 2020 46 541 M 7 199 M 7 199 M
Net Debt 2020 - - -
P/E ratio 2020 4,91x
Yield 2020 5,60%
Capitalization 218 B 33 652 M 33 720 M
Capi. / Sales 2020 1,14x
Capi. / Sales 2021 1,07x
Nbr of Employees 58 933
Free-Float 55,1%
Chart CHINA MINSHENG BANKING CORP., LTD.
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China Minsheng Banking Corp., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends CHINA MINSHENG BANKING CORP., LTD.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 5,19 CNY
Last Close Price 5,22 CNY
Spread / Highest target 34,3%
Spread / Average Target -0,56%
Spread / Lowest Target -33,0%
EPS Revisions
Managers and Directors
NameTitle
Wan Chun Zheng Vice Chairman, President & General Manager
Jun Tong Zhang Chairman-Supervisory Board
Ying Xin Gao Chairman
Dan Bai Chief Financial Officer & Co-Secretary
Yong Hao Liu Vice Chairman