Ping an bank officials confirmed to Cailian press on June 17 that Jiang Yongjun had resigned for some time. Jiang Yongjun told Cailian Press that the rumor was market speculation and that he had not yet joined Yilian Bank. As for whether he will join Yilian Bank in the future, Jiang Yongjun did not respond and only said that he did not care too much about the rumors.
On June 17, Caijing reported that, as the structural reform gradually deepened, there were rumors that former high-level personnel of Ping An Bank joined other banks to assume senior leadership positions.
On June 17, there were market rumors that Jiang Yongjun, former vice president of the Ping An Bank credit card center, will join Yilong Bank and, if approved by regulators, will become the bank's fourth CEO. Ping An Bank officials confirmed to Caijing on June 17 that Jiang Yongjun had resigned some time ago.
Caijing contacted Jiang Yongjun himself, who said that the rumors were market speculation and that he had not yet joined Yilong Bank. As for whether he will join Yilong Bank in the future, Jiang Yongjun did not respond and only said that he "doesn't care much" about the rumors.
As a veteran of Ping An Bank, Jiang Yongjun also served as the legal person of the Ping An Bank Credit Card Center Workers' Union Committee. According to the query system of the All-China Federation of Trade Unions, since May 8, 2024, Jiang Yongjun's legal person status has been replaced by Bao Jianjun, whose latest publicly available information is that he is the assistant president of the Ping An Bank Credit Card Center.
Yilong Bank, based in Jilin Province, is the first privately-owned bank in Northeast China. It was jointly established in Changchun by seven private enterprises, including Zhongfa Financial Holdings and Jilin Sankuai Technology (Meituan), with a registered capital of RMB 3 billion in May 2017. Following Zhejiang Webank, Shenzhen Qianhai Weizhong Bank, and Sichuan Xinwang Bank, it was one of the first batch of online banks to receive approval.
According to the annual report data, as of 2023, Yilong Bank achieved operating income of RMB 1.065 billion, a year-on-year decrease of 2.02%; achieved total profit of RMB 62 million, a year-on-year decrease of 43.12%. However, Yilong Bank achieved net profit of RMB 140 million last year, a year-on-year increase of 44.33%, capital adequacy ratio was 12.45%, an increase of 1.11 percentage points compared to the same period last year; provision coverage ratio was 170.53%, an increase of 8.75 percentage points compared to the same period last year.
Previously, Yilong Bank's CEO was Wang Yuhai, a former senior manager and risk director of American Express and chief risk officer of the Credit Card Center at Guangfa Bank. The first CEO of Yilong Bank was Dai Bing, former general manager of the Credit Card Center of China Everbright Bank. In addition to Ping An Bank's Jiang Yongjun, three of the four CEOs have a long career in the credit card department.
On June 17, a senior executive of an Internet finance company in Beijing that has long cooperated with small and medium-sized banks told Caijing that as most private banks have a small scale and rely mainly on the Internet as their main channel, the appointment of CEOs still requires traditional banks that can communicate smoothly with regulatory authorities and are familiar with the regulatory discourse under the current trend of tightening financial supervision.
Data shows that Yilong Bank's scale has shrunk uncommonly for a private bank in recent years. As of the first quarter of 2024, Yilong Bank's total assets amounted to RMB 51.479 billion, of which various loan balances were RMB 30.226 billion, and non-performing loan ratio was 1.78%. Various deposit balances were RMB 32.219 billion, the bank realized operating income of RMB 331 million, and achieved net profit of RMB 19 million.
Compared to the asset size of RMB 51.775 billion at the end of 2023, Yilong Bank's scale remains in a downward trend in the first quarter.