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A lifetime ban on business paper reveals a fraud case, China Citic Bank Corporation employee claimed to be able to process a 60 million loan to deceive a huge "benefits fee", and finally was sentenced to 12 years in prison.
① The violations related to Tao Jun resulted in the China CITIC Bank Corporation Taiyuan Branch and several individuals being fined simultaneously, but only he was banned for life in this batch of fines. ② Information from the judgment document website indicates that Tao Jun claimed he could help people obtain large loans and defraud them of substantial "kickbacks"; due to his involvement in a fraud case, he was sentenced to 12 years in the first instance.
China mainland banking stock price surged, harbin bank (06138) rose by 4.41%. Institutions view the bank's allocation value favorably against the backdrop of a comprehensive policy implementation.
Golden Eagle Financial News | China mainland banking stocks strengthened, as of the time of writing, Harbin Bank (06138) rose 4.41%, ZYBank (01216) rose 1.67%, Bank of Tianjin (01578) rose 1.2%, Minsheng Bank (01988) rose 1%, China Citic Bank Corporation (00998) followed suit. On the news front, Citic Sec stated that the core operating elements of the banking industry are running steadily, with the fundamental variables of the sector entering a stable period against the backdrop of the previous comprehensive policy implementation. Overall, the changes in investor funding and macro policy expectations in the next phase have become marginal variables affecting the trend of banks, and we tend to point towards
China Citic Bank Corporation has listed a high number of individual non-performing loan projects. The retail assets risk is still in the release stage, and the bank's non-performing asset disposal is accelerating.
China Citic Bank Corporation has recently listed a large number of non-performing loan projects, involving multiple branches in Peking, Shenzhen, and others, mostly personal consumption and non-performing loans for operations. The current retail asset risks of banks are still in the releasing stage, with remaining pressure on improving asset quality indicators, requiring larger efforts in non-performing loan write-offs, disposal measures, and more.
China Citic Bank Corporation (00998.HK): When implementing the mid-term dividends for A-share common stock in 2024, the conversion of "Citic Convertible Bonds" will be suspended.
Gelonghui reported on November 27th that china citic bank corporation (00998.HK) announced that due to the implementation of the 2024 A-share common stock mid-term dividends, the status of relevant securities for china citic bank corporation is as follows: From the last trading day before the announcement of the implementation of the 2024 A-share common stock mid-term dividends (December 3, 2024) to the date of equity registration for these dividends, the china citic convertible bond (113021) will suspend its conversion; on the first trading day after the equity registration date, the china citic convertible bond will resume conversion.
In November, the MLF volume continued to shrink. Previously, the 500 billion buy-back reverse repurchase has released medium-term liquidity ahead of schedule. The industry expects the reserve requirement ratio cut to be implemented faster.
①The funding operation mode of shortening and lengthening funds continues. On the one hand, the central bank continues to reduce the MLF operations volume, reduce the existing stock to mitigate its impact on the liquidity market. On the other hand, short-term funds continue to be net injected to hedge against cross-month fund pressure, strengthening the guiding position of reverse repurchase agreements on market interest rates. ②Local government bonds are centrally supplied, and the MLF is likely to see a quicker implementation under the reduced volume environment.
China CITIC Bank Updates on Interim Dividend
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