¡¡¡¡¡ª¡ªEverbright claims over 70 percent of industry¡¯smortgage loans for engineering machinery and ranks first in terms of fixed-rate loan, short-term financing bond, wealth management and fund transaction
¡¡¡¡President Guo You of Everbright Bank disclosed on October 17 that the bank¡¯s mortgage loans for engineering machinery, which had been cited by the banking industry as ¡°Everbright Model¡±, had been performing remarkably well. Speaking at a reception held in honor of the bank¡¯s customers receiving the mortgage loans for engineering machinery, he said the business, called ¡°sunshine life¡±, had issued RMB 21.5 billion in mortgage loans for engineering machinery and created RMB 30.7 billion in sales revenue for the enterprises. The loan balance reached RMB 11.1 billion, accounting for over 70 percent of the same kind of loans issued by the banking industry.
¡¡¡¡Meanwhile, the bank has ranked first in the industry in terms of innovative businesses, such as fixed-rate housing loan, short-term financing bond, wealth management and fund transaction. They have become the bank¡¯s brand names and new points of profit growth. At present, the quality of the bank¡¯s credit assets is better than the average level of all commercial banks. By the end of this year, its assets are expected to total more than RMB 700 billion and its profit will rise sharply.
¡¡¡¡The bank introduced the unique ¡°sunshine life¡± first in 2003 in light of market demands. Over the past five years, the ¡°head office to head office¡± mortgage loans for engineering machinery have promoted the country¡¯s infrastructure construction and the building of a socialist new countryside. They have also boosted the product sales of the cooperating enterprises and quickened their development. Currently, the bank has 32 ¡°head office to head office¡± cooperating enterprises, over 600 cooperative distributors and 103 branches and sub-branches handling this business. In all, more than 30,000 individuals and enterprises have benefited from the bank¡¯s mortgage loans for engineering machinery. So far, the bank has issued a total of RMB 21.5 billion of this loan and helped enterprises realize RMB 30.7 billion in sales revenue. The balance of this loan totals RMB 11.1 billion, accounting for over 70 percent of that issued by the banking industry as a whole. The quality of these assets has been stable.
This year while the banks have tightened their credit scales, Everbright has taken the ¡°head office to head office¡± loans for engineering machinery as a product for priority support. The bank has taken a series of measures to pursue a rapid and healthy development of this business, such as the lump-sum centralized credit approved by the head office, the extension of the duration of mortgage loans, the promotion of the personal loan standardization process to increase efficiency, and the holding of bank-enterprise promotional conferences on mortgage management. In the first nine months of this year, the bank issued over RMB 9 billion in new mortgage loans for engineering machinery, with the balance of the loans rising RMB 5.2 billion over the level at the beginning of the year. It has helped enterprises realize nearly RMB 13 billion in sales revenue.
¡¡¡¡In April 2007, Everbright¡¯s ¡°head office to head office¡± mortgage loans for engineering machinery won the award for outstanding financial contribution to China¡¯s engineering machinery industry granted by the China Association of Engineering Machinery Industries. Everbright was also the only bank participating in the 9th Beijing International Engineering Machinery Exhibition, winning strong support from many engineering machinery plants and businessmen.
¡¡¡¡In the future, Everbright will further broaden its cooperation with engineering machinery plants and businessmen. Meanwhile, it will further optimize its product structure and streamline its business processes in light of market demands so as to provide its customers with better-conceived and more comprehensive services and turn ¡°sunshine life¡± into a brand-name business of the bank. |
