“上参下”继续扩容，山西农商联合银行已获批入股辖内10家农商行

Core Viewpoint - Shanxi Rural Commercial Bank is expanding its "upward participation and downward investment" model to enhance capital connections with grassroots institutions and accelerate the reform of county-level cooperatives [2][3]. Group 1: Investment and Reform Progress - As of 2025, Shanxi Rural Commercial Bank has invested in 10 rural commercial banks in Shanxi Province, with shareholding ratios reaching up to 93.2% in some cases [2][3]. - The bank's total assets reached 68.735 billion yuan by the end of September 2025, an increase of 4.161 billion yuan from the end of 2024 [4]. - The bank's investment in local banks includes significant stakes in YaoDu Rural Commercial Bank (9.84%) and Houma Rural Commercial Bank (44.25%), totaling an investment of 860 million yuan [3]. Group 2: Challenges and Governance - Some grassroots institutions face challenges in risk management and sustainable development, as evidenced by the declining capital adequacy ratios of institutions like Pingyao Rural Commercial Bank [5]. - The governance structure of some invested institutions is fragmented, lacking a controlling shareholder, which complicates management and oversight [4]. - Shanxi Rural Commercial Bank aims to enhance governance and management of these institutions through its investments, addressing issues related to state asset preservation and regulatory compliance [6]. Group 3: Strategic Implications - The "upward participation and downward investment" model is seen as a strategic move to enhance the overall stability and risk management capabilities of the rural financial system [7]. - The model is designed not only for financial returns but also to optimize governance structures and improve the risk resilience of the entire system [7].