Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

CHINA MINSHENG BANKING CORP LTD (600016)

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

China Minsheng Banking : Minsheng chairman says loans to China's Anbang total only $100 million - Caixin

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/18/2017 | 07:47am CEST
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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CHINA MINSHENG BANKING COR
06/20 CHINA MINSHENG BANKING CORP LTD : ex-dividend day for final dividend
06/19 CHINA MINSHENG BANKING : POLL RESULTS OF 2016 ANNUAL GENERAL MEETING, THE SECOND..
06/19 CHINA MINSHENG BANKING : Change of principal place of business in hong kong
06/18 CHINA MINSHENG BANKING : Minsheng chairman says loans to China's Anbang total on..
06/16 SRE : granted Rmb1.25bn loan by Minsheng Bank
06/14 China's Anbang says chairman steps aside, after report of his arrest
06/13 CHINA MINSHENG BANKING : SPD Bank Plans to Set Up Direct Selling Bank
06/12 CHINA MINSHENG BANKING : Announcement on Approval by the CBRC on Issuance of Tie..
06/05 CHINA MINSHENG BANKING : Lu Zhiqiang Lifts Stake in Minsheng Bank to 6%
06/02 CHINA MINSHENG BANKING : Monthly Return of Equity Issuer on Movements in Securit..
More news
Sector news : Banks - NEC
08:44p BANCA INTERMOBILIARE DI INVEST E GES : Italy's BIM head confident the unit can b..
07:53p BANCO SANTANDER : Italy bank rescue divides Europe
07:03p U.S. top court buries CalPERS lawsuit over Lehman collapse
06:13pDJEUROPE MARKETS : European Stocks Finish Higher, Helped By Italian Banks, Nestlé
04:52p INTESA SANPAOLO : Germany criticises Italy deal to wind down Veneto banks
More sector news : Banks - NEC
News from SeekingAlpha
2016 How China Corporate Debt May Trigger A Banking Crisis
2016 WisdomTree China ex-State-Owned Enterprises ETF (CXSE) July Summary
2016 WisdomTree China ex-State-Owned Enterprises ETF (CXSE) June Summary
2016 WisdomTree China ex-State-Owned Enterprises ETF (CXSE) May Summary
2016 WisdomTree China ex-State-Owned Enterprises ETF (CXSE) April Summary
Advertisement
Financials ( CNY)
Sales 2017 159 411 M
EBIT 2017 87 099 M
Net income 2017 47 331 M
Debt 2017 -
Yield 2017 3,17%
P/E ratio 2017 6,13
P/E ratio 2018 5,98
Capi. / Sales 2017 2,11x
Capi. / Sales 2018 1,97x
Capitalization 335 793 M
More Financials
Chart CHINA MINSHENG BANKING COR
Duration : Period :
China Minsheng Banking Cor Technical Analysis Chart | 600016 | CNE0000015Y0 | 4-Traders
Full-screen chart
Technical analysis trends CHINA MINSHENG BA...
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 19
Average target price 7,61  CNY
Spread / Average Target -6,2%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Wan Chun Zheng President & Executive Director
Qing Shan Duan Chairman-Supervisory Board
Qi Hong Chairman
Dan Bai Chief Financial Officer
Yong Hao Liu Vice Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CHINA MINSHENG BANKING..-10.68%49 130
JP MORGAN CHASE & COMP..0.66%308 597
WELLS FARGO-4.83%262 109
INDUSTRIAL AND COMMRCL..16.55%260 628
BANK OF AMERICA3.26%227 102
CHINA CONSTRUCTION BAN..16.18%212 644
More Results