Nan Fang Du Shi Bao·2025-10-30 02:35Core Viewpoint - Jinzhou Bank has been acquired by Industrial and Commercial Bank of China (ICBC), marking the end of a six-year risk management process following significant financial troubles and asset quality deterioration [2][9]. Group 1: Acquisition Details - ICBC will take over Jinzhou Bank's assets, liabilities, operations, branches, and personnel as per the acquisition agreement [2]. - Customers of Jinzhou Bank will continue to receive banking services from ICBC, ensuring that depositors' rights are protected [3]. - A business migration notice indicates that services will transition to ICBC's platforms within 15 working days from the announcement [3]. Group 2: Financial Performance - Jinzhou Bank's total assets once exceeded 800 billion yuan, but it faced severe losses starting in 2018, with a net loss of 4.538 billion yuan that year due to a massive increase in asset impairment losses [4]. - The bank's non-performing loan (NPL) ratio surged from 1.04% to 4.99% in 2018, and by the end of 2019, the NPL balance reached 37.685 billion yuan, with an NPL ratio of 7.7% [4]. - As of mid-2022, Jinzhou Bank reported total assets of 826.552 billion yuan and a reduced NPL ratio of 2.87%, but net profit was only 14.2 million yuan, down 23.5% year-on-year [5]. Group 3: Management Issues - The former chairman, Zhang Wei, was implicated in corruption, having allegedly accepted over 244.8 million yuan in bribes during his 17-year tenure [6][7]. - Zhang's management is considered a significant factor in the bank's financial decline, leading to substantial losses and operational issues [7]. Group 4: Risk Management and Resolution - Following the exposure of asset quality risks, Jinzhou Bank faced a liquidity crisis in 2019, prompting regulatory intervention and the introduction of strategic investors to stabilize the situation [8]. - A financial restructuring was initiated, involving the sale of 150 billion yuan in non-performing assets and the introduction of quality shareholders [9]. - The acquisition by ICBC is viewed as a model for resolving regional financial risks through a combination of state-owned bank leadership and market-driven solutions [9].