Caixin reporter confirmed by many parties that Tao Liming's clue to the case originated from the case of Chen Mingxian (Party Secretary and Deputy Director of Hunan Provincial Department of Transportation).
From 2009 to 20 10, the Postal Savings Bank illegally issued loans for related construction projects in expressway, Hunan. During this period, Tao Liming's younger brother asked Hunan Expressway for a bribe of1100,000 yuan.
Caixin reporter learned from the competent financial department and the Postal Savings Bank that the Tao Liming case involved illegal fund-raising, illegal high-interest lending, interest transfer through the interbank market, bribery and so on. Chen Hongping, director of the financial interbank division of the fund operation department of the bank, was investigated in the same case, which also confirmed these clues.
Postal savings bank has always been known for its abundant cash flow and large deposit amount, which is far greater than the loan amount. In the situation of 20 12 credit crunch, compared with other banks, the senior management of Postal Savings Bank with huge resources has become the target of "public relations" of all parties in the market.
A Postal Savings Bank executive said, "There is a lot of room for lending and a lot of room for capital operation." The loan-to-deposit ratio of the Postal Savings Bank is less than 20%, and its obvious advantages are its ultra-low non-performing loan ratio and considerable deposit balance.
However, the shortcomings and advantages of the Postal Savings Bank are as prominent as the lack of credit capacity, team building and mechanism construction, which are the two major challenges facing the Postal Savings Bank.
At the beginning of 20 12, Postal Savings Bank Co., Ltd. was officially listed with a registered capital of 45 billion yuan. "Just a few months after listing, the director sent by the Ministry of Finance has not arrived yet, and the Postal Savings Bank has an accident." People close to Huijin told Caixin reporter with regret.
A senior banker said that after the Postal Savings Bank established a joint-stock company, its business gradually developed in an all-round way, and the weakness of its institutional risk control capability was gradually exposed. 20 12 in June, Caixin reporter reported exclusively (for related reports, see Tao Liming, President of Postal Savings Bank, No.24, 20 12) that Tao Liming, then president of Postal Savings Bank, was suspected of illegal lending, bribery and illegal fund-raising.
In the same period, China Business News (Weibo) reported that a clue from the Hunan Commission for Discipline Inspection showed that the direct trigger of the Tao Liming incident was the series of cases of Chen Mingxian, the former party secretary and deputy director of the Hunan Provincial Department of Transportation, which broke out in late March of 20 12.
Chen Mingxian has been put on file for investigation because he is suspected of serious violation of discipline in expressway project bidding and other links. In the investigation, Chen Mingxian gave up a middleman, who was the commander of the next project in expressway, Hunan Province, and this person led to Tao Liming.
According to the report, in a 20 billion yuan project of Hunan Expressway, the Postal Savings Bank issued a wholesale loan of 5 billion yuan to Hunan Expressway, and the relatives of the responsible person demanded a benefit fee of 65.438+0.9 billion yuan. The down payment of Hunan Expressway is 6.5438+0.5 million yuan, and the rest is in the form of monopolizing new (Ning) high-speed materials.
Caixin reporter learned that the relative of the responsible person was the younger brother of Tao Liming, then president of Postal Savings Bank. One of Tao Liming's three major crimes is suspected of illegal lending.
In addition, Tao Liming's problems also come from the use of funds by the Postal Savings Bank.
Postal savings bank is one of the few banks in the inter-bank market, and its loan capacity is still under construction, so it has a lot of funds to use. Chen Hongping, director of the interbank department of the Capital Operation Department of Postal Savings Bank, was also involved in the case.
In 2006 and 2007, the China Banking Regulatory Commission approved the Postal Savings Bank to carry out small-sum pledge loans and small-sum loans on time certificates of deposit.
Compared with other large commercial banks that have been engaged in credit business for decades, it was not until 2008 that the CBRC allowed the Postal Savings Bank to conduct business, that is, wholesale business.
The self-operated loan business of the Postal Savings Bank, namely the wholesale business, has developed in three steps. At first, it started with the transfer of credit assets, and then it was transferred to syndicated loans. In early 2009, the Postal Savings Bank officially launched the wholesale direct loan business.
According to the requirements of CBRC, the single loan business of Postal Savings Bank can't exceed 20 million yuan at present. Postal savings bank's large loans to infrastructure projects are still mainly through syndicated loans. "It is mainly the syndicated loans led by big banks and the participation of the Postal Savings Bank." A CDB official said. "Tao Liming has always been cautious. The sunken ship in the sewer came out because there is still a family to raise. " A person close to the Postal Savings Bank revealed, but further details remain to be known.
Tao Liming, 59, graduated from Central University of Finance and Economics. His wife is now a bureau-level inspector of the China Banking Regulatory Commission, who was responsible for on-site inspection at that time; His father-in-law used to be the head of the Central Organization Department, responsible for the assessment and deployment of cadres in the financial department, and now he has retired.
Because of this family background, Tao Liming usually keeps a low profile and seldom reads newspapers.
In the mid-1990s, Tao Liming was the deputy director of the Institute of International Finance of the Bank of China. According to the reporters who contacted him, Tao Liming had an indescribable scenery at that time, and there was no outstanding achievement in the academic field. His style can be described as "semi-academic and semi-official". In the late 1990s, Tao Liming was transferred to the post of Director of the State Postal Savings and Remittance Bureau. In March 2007, after the establishment of the Postal Savings Bank, Tao Liming served as the president.
A supervisor who participated in the reform of the Postal Savings Bank and had long-term dealings with Tao Liming said that on the surface, Tao Liming was not a luxurious and ostentatious person, and he gave the impression to his peers in the industry that he was shrewd, cautious, gentle and smooth.
On June 20 10, the head office of Postal Savings Bank moved into Jinding Building, No.3 Financial Street, Beijing. Tao Liming's office is more luxurious and bright, looking east at the Forbidden City.
However, people close to the Postal Savings Bank revealed that compared with their peers, the salary of the Postal Savings Bank is lower, only slightly higher than that of China Post Group. Tao Liming's annual salary is as high as 500,000-600,000 yuan, which is only half of that of other state-owned banks.
As a wholly-owned subsidiary, Postal Savings Bank has been strictly bound by China Postal Group. "Many people with connections and backgrounds with China Post Group work in the Postal Savings Bank". Cai Esheng, vice chairman of China Banking Regulatory Commission, once said in an exclusive interview with Caixin reporter that whether the management mechanism of Postal Savings Bank and its wholly-owned shareholder China Post Group can be straightened out is the key to the steady development of Postal Savings Bank.
At present, most of the presidents of 365,438+0 provincial branches of Postal Savings Bank are still members of the local provincial postal companies.
Postal savings bank is still a single, state-owned corporate governance structure. According to the report previously disclosed by the National Audit Office, the imperfect corporate governance structure and the lack of control of relevant decision-making procedures are one of the main problems of the Postal Savings Bank.
As a wholly-owned subsidiary of China Post Group, the chairman of Postal Savings Bank has been the general manager of China Post Group. After Liu Andong, the first chairman, retired in September, 20 1 1, Li Guohua, general manager of China Post Group, took over the post of chairman. At present, among the seven board members of the Postal Savings Bank, five are from China Postal Group, and the other two are sent by the Ministry of Finance.
After the Tao Liming case, the Postal Savings Bank has not announced a new president. "The biggest challenge for the Postal Savings Bank is still the ability to lend and the level of risk control." An investment banker said.
"The probability of a problem with the Postal Savings Bank is very high, and the situation in Tao Liming is not surprising." In addition to personal reasons, many people in the industry, including insiders of Postal Savings Bank, also believe that the Tao Liming case was caused by the rapid expansion of Postal Savings Bank's business, but the corresponding internal control mechanism and incentive mechanism are not perfect, and the credit culture is still in the initial stage of construction.
"The regulatory authorities have been worried about whether the quality and skills of personnel can keep up with the market so quickly." A person from the China Banking Regulatory Commission analyzed Caixin reporter's opinion: "After all, the Postal Savings Bank has entered the market for a short time, has not experienced market shocks and is not sensitive enough to market changes."
According to the data of the Postal Savings Bank, as of the end of 20110, the savings deposits of the Postal Savings Bank have increased by 1 19%, the total assets have increased by 120%, reaching 4 trillion yuan, and the annual growth rate of operating income has exceeded 60%.
For the Postal Savings Bank, which is still in the initial stage of system and institutional construction, it has only been involved in small loans for two or three years, with a large amount of small loans and wide coverage, including Tibet, which commercial banks are reluctant to enter.
"There must be achievements, but is the ability really to this extent?" A senior financial expert questioned that the quality of postal savings bank personnel is uneven, and at the current development speed, business proficiency and related internal systems may be lacking.
What the industry did not expect was that the focus of this case was the wholesale business that was considered to be relatively stable. In early 2009, the Postal Savings Bank officially launched the wholesale business. By the end of 20 1 1, the balance of its wholesale business was about 200 billion yuan, including 20 10+0 1 a wholesale loan of 40 billion yuan specially approved by the central bank to support the Ministry of Railways.
At present, the Postal Savings Bank still faces the capital gap and the hard constraints from the regulatory authorities. By the end of 20110, the capital adequacy ratio of Postal Savings Bank was 9.56%, which met the differentiated regulatory requirements of CBRC for its capital adequacy ratio of 9%, but it was still lower than the regulatory requirements of other commercial banks for its capital adequacy ratio of 10.5%.
Since 2008, China Post Group has increased its capital to the Postal Savings Bank by 60 billion yuan for four consecutive times. Except the initial capital of 20 billion yuan in 2007, most of it comes from the fixed assets investment of China Post Group, and the rest comes from the self-operated profits of Postal Savings Bank.
Postal savings bank has no timetable for listing. The insiders believe that the behavior of the "top leader" of the Postal Savings Bank has a negative impact on its introduction of strategic investors and the timing of listing.
According to the relevant requirements of China Securities Regulatory Commission on initial public offering (IPO), the issuer's main business, directors and senior management personnel of initial public offering should have no major changes in the last three years. The Tao Liming case made the Postal Savings Bank no longer meet this requirement within three years.