The municipal commercial bank for the Sichuan province city of Yibin has confirmed plans to list publicly by mid-decade as part of ambitious growth targets.
Yibin City Commercial Bank announced on 24 December that it has recently set the goal of listing publicly by 2025, at which point it hopes for its total assets to exceed the 100 billion yuan threshold.
Yibin City’s total assets stood at 51.177 billion yuan as of the end of 2020, for an increase of 10 billion yuan compared to the end of 2019.
According to the latest data total assets already exceed 60 billion yuan, with a deposit balance of 36.732 billion yuan, a non-performing loan ratio of 1.90% and a core tier-1 capital adequacy ratio of 14.97%
Yibin City posted net profits of 153 million yuan in 2020.
As of the end of 2020 Yibin City’s largest shareholder was alcohol-producer Sichuan Yibin Wuliangye Group, which had a 19.99% equity stake, followed by the Yibin municipal financial department and the Yibin Cuiping district financial department, each of which hold a 19.98% share in the municipal lender.