Two years later, the bank wishes to regain consumer auto loan business. Compared with the previous, more attention to banks and car dealers. From the industry's argument is that banks and merchants Chery joint venture to build automobile finance companies, will be formally established in July. For risk considerations, since 2006, the bank's car loan business continued to shrink the size. Data show that in 2007 the national financial institutions, consumer credit balance of 3,278,300,000,000 yuan, of which only 110,700,000,000 yuan car loans, housing loans of less than 3%. However, starting this year, as the mortgage business compared with idle talk, car loans by banks once again favored the development of Shenzhen, China Merchants Bank (600036 market, shares it) and so on a number of banks have said that this year will be to develop car loan business. Merchants Bank director of the Office of Dong Hu told reporters that so far this year, the bank's car loan business well, at least in Anhui Province is relatively high in the rankings. However, he did not provide the specific size of the business. He also said that at present, mainly through cooperation with distributors to carry out the business. According to the industry, which will involve the distribution of interests, some of the earlier car dealers to cooperate with the bank's enthusiasm was not high. However, beginning this year, banks and dealers has been enhancing its co-operation. Earlier this year, Shenzhen Development Bank and Shenyang Brilliance Jinbei Automobile Co., Ltd. signed a "vehicle of the financial support of the strategic cooperation agreement." One of the focal points of the agreement, is to provide financing support to the distributor. At the same time, there are banks through the establishment of a joint venture auto finance company's way into the car loan business, Huishang Bank is one of them. Prior to this, merchants and banks have Chery signed a joint venture to set up a "silver emblem Chery Automobile finance company" strategic cooperation agreement, the preparation of the financial companies registered capital for the development of 500,000,000 yuan. As for the concrete to set up a timetable for East Hu said "not yet finalized," the current regulatory authorities are taking the appropriate procedures. He also said that after the establishment of the auto finance company, the main distributor for the system to provide a range of financial support. As early as 2006, the Bank of China (601988 market, shares it) has been adopted by the company's indirect auto and financial companies to set up a joint venture company, became the first curve stake in the company's auto finance commercial banks. It is understood that the auto finance company and the dealer is the usual mode of cooperation to provide wholesale and retail business of credit support. Wholesale distributors are based on the operating and financial situation, auto dealer finance companies awarded a certain amount of financing, mainly on new cars, test drive vehicles and used-car inventory financing to give financial support. The retail business is through the dealer network to the purchase of personal and corporate customers in the form of hire purchase and financing services. According to the China Banking Regulatory Commission announced a new "car of the financial management of the company", the auto finance company business, financing channels, such as restrictions eased. Which allow car companies to issue financial Jinrong Zhai, which is better than the previous shareholders of deposits, bank loans and so on limited sources of funding to relax a lot. The industry said that the car through the car loan finance companies to conduct business there are two advantages: First, can effectively control risk; The second is to expand the size of the business. Data also show that as of February this year, the Asian Games Village Automobile Exchange proportion of car loans has reached 35% of the same period last year increased by 20 percentage points. The auto finance companies accounted for the personal auto consumer credit market share of 48% share of the bank alone, only 5%.
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