Gree electrical appliances to carry out banking business

At present, more and more enterprises plan to intervene in banking business. China Securities News reporter learned that the United States after the Group intends to intervene in private banks, another household appliance industry leading Gree will also carry out banking business. A person close to gree electric appliance said, Gree will take the holding subsidiary Gree Group Financial Limited liability company as a banking integration platform, related work quietly started, has been with the Zhuhai Town Bank, such as Wang Qin and other cooperation matters. Data show that Gree finance company July 1, 2003 official operation, the main business is for the Enterprise group member units to provide financial management and financial services. Gree Financial Company has set up a more complete departmental system, including credit department, financial Investment Department, accounting department, Finance Department, Integrated management department, risk Control Department, audit department. As of December 31, 2012, Gree financial Company Capital adequacy ratio of 46.38%, net assets yield 10.89%, deposit ratio (including discount) 48.51%. Analysis of the industry, gree financial companies, although the non-bank financial institutions, but in the service of Gree Related financial business process laid the foundation of the banking business, and the current popular "based on industry, service industry" concept. In fact, Gree may have long been in the business of financial planning. 2008 Gree Electric through the increase of gree finance company, so that its registered capital from 350 million yuan to 1.5 billion yuan, Gree's shareholding ratio from 49.92% to nearly 90%, to achieve holding. Mingzhu has told the media that Gree's holdings of finance companies has exceeded 80%, and the ultimate goal is to achieve 100% holdings. "Because many of our companies have a bank loan problem, with this financial company, can do things that could not be done before, can reduce financial costs, capital operation." "For this gree electric appliance to carry out banking business, the relevant personage discloses, Gree electric appliance already with the Zhuhai Cross Qin Village Bank carries on the cooperation matter contact, the Gree Finance Company may take the participation to realize to the Horizontal Qin Village bank's investment, and prepares for the final establishment bank." It is understood that the Qin Village Bank was established in October 2011 to serve "Three agricultural (rural, agricultural, peasant)", service micro, small and medium-sized enterprises, services, businesses, service residents to start the market positioning, the establishment of more than 10 kinds of characteristics of financial products. Wang Qin Village Bank was established only 5 months, by March 2012 has absorbed deposits of RMB 130 million yuan, issued loans of 100 million yuan.