According to this source, the reform plan of Agricultural Bank of China (hereinafter referred to as "ABC") has been incorporated into the overall plan of rural financial reform.
As early as the beginning of the year, the "Overall Reform Plan of Rural Finance" drafted by the Financial Stability Bureau of the Central Bank has been reported to the State Council, and then the relevant plan was transferred back to the Central Bank for revision by the State Council. At present, the Research Bureau of the Central Bank has taken over the revision of the plan and will readjust the rural financial reform plan according to the spirit of the Central Financial Work Conference.
This person revealed that the "Central Financial Work Conference" should be held after the "New Year's Day" and before the "two sessions" next year. According to this calculation, the holding time is about before the "Spring Festival" next year.
A reasonable expectation is that after this meeting, the reform plan of ABC will be finalized. However, insiders familiar with the situation of ABC told the Financial Times that the reform process of ABC will be much longer than that of the other three state-owned banks. This is because problems such as unclear positioning, heavy burden and huge non-performing assets will curb the process of ABC's share reform.
Ten years is "too long"
There are many share reform schemes of ABC, which can be roughly divided into two categories: split and overall share reform and listing. The above-mentioned people said that because the opinions of all parties cannot be unified, the spin-off and overall share reform plan still exists and has not been completely denied.
Either way, we must first digest the historical burden of ABC. The Agricultural Bank of China indicated that it would solve some historical burdens through its own efforts.
According to the data provided by ABC, in 2004, ABC digested the historical burden of 23.533 billion yuan; In 2005, ABC digested the historical burden of 34.605 billion yuan. In the first three quarters of this year, ABC achieved an operating profit of 42.572 billion yuan, and it is estimated that the annual profit will exceed 50 billion yuan.
But this digestion speed is still too slow for ABC.
The unaudited balance of non-performing loans disclosed by ABC is around 740 billion yuan. According to the information published by Banker magazine, the capital adequacy ratio of ABC at the end of 2005 was-17.37%. It is speculated that the overall share reform and listing of ABC needs to inject about 1 trillion yuan. If ABC digests half of its burden, that is, 500 billion yuan, it will take ten years to digest 50 billion yuan on average every year.
Therefore, in the view of financial circles, it is inevitable that finance and Central Huijin Company will inject capital into Agricultural Bank.
Not long ago, Deloitte, one of the world's "big four" accounting firms, began to conduct a comprehensive audit of ABC; At the same time, ABC's own assets and capital verification work has also been fully launched.
This shows that although the reform plan of ABC has not yet been finalized, ABC has quietly taken the lead.
Cut people silently.
At the same time, the layoffs of ABC are also entering the deep water area.
The Financial Times has learned that the latest round of layoffs and diversions of the Agricultural Bank of China has been completed not long ago. This round of laid-off workers' diversion mainly takes three forms: encouraging internal retirement, buying out the length of service and eliminating the last one.
Take Hubei as an example, about 2000 people are diverted this year.
An employee of the Agricultural Bank of a county-level city in northwest Hubei said that the policy of the Agricultural Bank was not bad this time. He chose to buy out the length of service, and the policy given by the Agricultural Bank of China was to buy out the length of service10.4 million yuan. Moreover, employees who buy out the length of service still retain the "three insurances" treatment. Therefore, many ABC employees in this city want to retire or buy out their working years.
At the same time, the reporter learned that the human resources reform that meets the operating requirements of joint-stock banks has also been rolled out in the Agricultural Bank of China. Agricultural Bank of China's human resources reform has been piloted in Beijing Agricultural Bank, Ningbo and Shanxi, and will be completed by the end of this year and rolled out nationwide next year. The focus of the reform is to subdivide posts, build a business division system, make "flat" adjustment and shorten business approval according to the operation system of modern commercial banks.
This may trigger the layoffs of ABC again.
According to the information released by the Agricultural Bank of China, from 2000 to May this year, the Agricultural Bank of China removed 22,500 outlets and laid off169,000 people.
Moderate depression
At the same time of layoffs, ABC is still trying to solve the problem of uneven development of branches in various provinces.
Agricultural Bank of China's internal rating of provincial branches is divided into four types: ABCD, the best of which is A, and most of them are economically developed provinces in the east. The worst D level is not in the economically underdeveloped areas in the west, but concentrated in the central region.
This makes the pattern of provincial branches of Agricultural Bank of China as follows: the east and west are better, and the central part is relatively "depressed". This feature is different from any other bank.
According to informed sources, there are many reasons for the depression in the central part of ABC. The main reason is that the economy in the central region is not as developed as that in the east, and there is no preferential policy in the west, so the development speed is slow.
It is reported that the Agricultural Bank of China has ordered these central branches to achieve surplus within a time limit, and the deadline for Hubei Branch is the end of next year. (He Jiangbing)