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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China Minsheng Banking Corp Ltd    600016   CNE0000015Y0

End-of-day quote. End-of-day quote SHANGHAI STOCK EXCHANGE - 11/17
8.54 CNY   +3.14%
11/17 China's Huishan Dairy tells lawyers to ready for liquidation
11/15 CHINA MINSHENG : The Listing Notice of U.S.$450,000,000 Floating Ra..
11/13 CHINA MINSHENG : Announcement
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China Minsheng Banking : Minsheng chairman says loans to China's Anbang total only $100 million - Caixin

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06/18/2017 | 07:47am CET
FILE PHOTO: The headquarters building of Anbang Insurance Group are pictured in Beijing

China Minsheng Banking's loans to Anbang Insurance Group amount to $100 million (78 million pounds), and not 100 billion yuan (12 billion pounds) as rumoured, bank chairman Hong Qi told shareholders, adding that the loans are secure, local media Caixin reported.

The respected business magazine is among the first to reveal the size of loans made by mid-sized bank Minsheng to Anbang.

Minsheng spokesman Li Liming told Reuters the account of the shareholders' meeting was correct.

Anbang [ANBANG.UL], one of China's most aggressive buyers of overseas assets, said last week that Chairman Wu Xiaohui was temporarily unable to fulfil his duties due to personal reasons. People familiar with the matter said Wu had been detained by authorities earlier in June.

Anbang has said Wu's duties would be managed by other senior executives, and that its business was operating normally. No other details have been provided by the insurer.

Anbang Group is one of Minsheng Banking's largest private shareholders.

"It is precisely because Anbang is a major shareholder that our controls are stricter and we strictly disclose related party transactions," Hong is reported to have said.

Hong also said Minsheng will continue to sell Anbang's insurance products, according to the Caixin report.

Employees at several Chinese banks told Reuters last week that they had stopped selling some Anbang products, in some cases several months ago.

Banks are the main distribution channel for Anbang's insurance products.

Minsheng has its own legal challenges, with the head of one of its branches and some staff under investigation in connection with missing funds worth 1.65 billion yuan.

($1 = 6.8097 Chinese yuan)

(Reporting by Dominique Patton and Sun Qizi; Editing by Tom Hogue)

By Dominique Patton

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Financials ( CNY)
Sales 2017 149 B
EBIT 2017 84 734 M
Net income 2017 46 782 M
Debt 2017 -
Yield 2017 3,09%
P/E ratio 2017 6,38
P/E ratio 2018 6,14
Capi. / Sales 2017 2,32x
Capi. / Sales 2018 2,14x
Capitalization 344 B
Chart CHINA MINSHENG BANKING COR
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China Minsheng Banking Cor Technical Analysis Chart | 600016 | CNE0000015Y0 | 4-Traders
Technical analysis trends CHINA MINSHENG BANKING COR
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 7,88  CNY
Spread / Average Target -7,7%
EPS Revisions
Managers
NameTitle
Wan Chun Zheng President & Executive Director
Qi Hong Chairman
Zhang Juntong Chairman-Supervisory Board
Dan Bai Chief Financial Officer
Yong Hao Liu Vice Chairman
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