First-line Yumin Bank of Jiangxi established Lexin Company as the third largest shareholder

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[Abstract] The fifth shareholder representative of the initiator of Yumin Bank of Jiangxi from left is Xiao Wenjie, CEO of Lexin and chairman of Nanchang Billion Branch.
The fifth shareholder representative of the founder of Yumin Bank of Jiangxi from left is Xiao Wenjie, CEO of Lexin and chairman of Nanchang Billion Branch.
Tencent News “Front Line” Wang Pan
On September 28, Yumin Bank, the first private bank in Jiangxi Province, was formally established. According to the public information, the registered capital of Yumin Bank is 2 billion yuan, which is jointly initiated and established by Zhengbang Group Co., Ltd., Jiangxi Boneng Industrial Group Co., Ltd., Nanchang 100 million Branch (Full-owned subsidiary of Phase Le under Lexin) and several outstanding private enterprises in Jiangxi Province. Among them, Zhengbang, Boneng Neng and Nanchang 100 million are the top three shareholders.
It is understood that Yumin Bank of Jiangxi is the first private bank to restart and raise funds after two and a half years of the CBRC. It is also the first legal person bank of financial science and technology established after the formal promulgation of the Central Bank’s Financial Science and Technology Development Plan (2019-2021). It is the first modern private commercial bank in China and the first one in Jiangxi to build on 5G network.
In recent years, the new private banks have chosen to unite the head Internet enterprises, strengthen their financial technology capabilities, and adapt to the increasingly online financial services needs. For example, Weizhong Bank is deeply bound with Tencent, online commercial bank relies on Ali E-commerce ecology and technological capabilities, New Net Bank introduces millet, United States Corps of Billion Union Bank and so on.
Yin Zhentao, deputy director of the Law and Finance Research Department of the Institute of Finance of the Chinese Academy of Social Sciences, said that there was no shortage of commercial banks, not to mention large banks, but of banks with distinctive characteristics. The successful experience of Internet banking established by Internet companies such as Tencent and Ali, as well as cooperation with traditional banks, has long demonstrated that traditional financial institutions need more Internet elements and new technological attributes. In this way, financial institutions will have more advantages and feasibility in optimizing the allocation of resources and serving the real economy, so that the slogan of financial services real economy will no longer fall short.
Yumin Bank’s choice of Lexin means that Lexin’s ability to serve new consumption and accumulate financial technology in recent years has been further recognized. As the initiator shareholder of Yumin Bank, Nanchang Yifen will fully release the leading technology accumulated by Lexin and Phased Lexin in the field of financial technology and consumer finance for many years, export consumption scenarios, financial technology capabilities and Internet operation experience to Yumin Bank, and jointly meet the consumer financial needs of new consumers.
“As a modern intelligent Bank of financial science and technology built on 5G network, with the help of financial science and technology, Yumin Bank of Jiangxi will focus more on the real economy and regional development, more prominently serve the private enterprises and inclusive finance, and realize the differential advantages and comprehensive competitiveness on the basis of becoming bigger, stronger and better.” Yin Zhentao said.
It is understood that the Yumin Bank of Jiangxi will base itself on the Jiangxi region, adhere to the enterprise mission of “Science and Technology Finance, Yumin Xinggan”, take serving private enterprises, private economy and people’s livelihood as its responsibility, and devote itself to building a modern private commercial bank with outstanding brand, distinctive features, industry leadership, regulatory assurance, customer praise, shareholder satisfaction and employee happiness.
Lexin is a leading financial and technological company in China. It owns sub-brands such as Philadelphia, Leka and Dingsheng Technologies. It currently serves more than 50 million users with an annual turnover of nearly 100 billion. It is one of the top 500 enterprises in China’s service industry.