报告名称：China Minsheng Bank Alert(01988.HK)Access China conference highlights 2016
报告类型：港股研究
报告日期：2016-01-13
研究机构：德意志银行股份有限公司
股票名称：民生银行
股票代码：600016,01988
页数：1
简介：China Minsheng Bank (MSB) representatives attended our Access China conference today. The following are the key takeaways:
On micro and small enterprises (MSEs) lending, the bank maintained a stable loan balance of Rmb400bn as of 3Q15 (c. 20% of loan book) due to the continued adjustment of loan mix and strengthening risk management. Specifically, MSB expanded exposure to smaller enterprises and brought down the average loan size per customer to south of Rmb1m (vs. Rmb1.8-2.0m several years ago). The bank also increased the portion of collateralized loans to 60% of total MSE balance, while scaling back the exposure to unsecured loans, especially lending under cross-/mutual-guarantees.
On deposit, they expect the efforts in providing differentiated products and value-added services to help retain private enterprises, which are the largest contributors to the banksˇ corporate deposits. This is evidenced by the steady increase in its deposit base. Deposit generation from MSE loans stayed strong, with total deposits from MSEs accounting for 60% of the loan balance.
On operating trends in 2016, they expect a stable loan growth rate and a modest increase in NPL ratio in 2016. In 3Q15, 90% of the new NPLs were from MSE borrowers.
On community banking, the main focus of these community banks is to sell wealth management products as well as to provide retail credit and consumer loans. According to management, community banking network contributed Rmb36bn in deposits (1.3% of total deposit balance), while keeping double-digit deposit balance growth. Management views the community banking model as a cost-efficient approach to strengthen its branch network. All community outlets of MSB are rented, so that the bank remains nimble in adjusting its network.

下载地址：China Minsheng Bank Alert(01988.HK)Access China conference highlights 2016