La Oficina de Supervisión Bancaria y de Seguros de Shanxi emitió un boletín de quejas de consumo del segundo trimestre, con Jinshang Consumer Finance clasificada en el primer lugar en quejas dentro de su jurisdicción.

Xin Jing Bao Shell Finance News (Reporter Huang Xinyu) — On October 21, the Office of the Shanxi Banking and Insurance Regulatory Bureau released the “Notification on the Consumer Complaint Situation of the Banking Industry in the Province in the Second Quarter of 2022.” According to the Shanxi Banking and Insurance Regulatory Bureau, in the second quarter of 2022, the bureau and its district branches received and forwarded a total of 682 financial consumer complaints, a decrease of 0.73% quarter-on-quarter. The Shanxi Consumer Finance Company (hereinafter referred to as “Shanxi Consumer Finance”) received 140 complaints (as shown below), ranking first in the district. At the same time, the reporter also found that in the second quarter of this year, despite a slight increase in net profit, Shanxi Consumer Finance’s total assets showed a “shrinking” trend.

Shanxi Province Non-Banking Financial Institution Complaint Situation (Unit: cases) Chart / Shanxi Banking and Insurance Regulatory Bureau

In previous quarterly reports, the Shanxi Banking and Insurance Regulatory Bureau introduced that among non-banking financial institutions, consumer finance companies have prominent complaints. The current report shows that in the second quarter of 2022, the total complaints against non-banking financial institutions in Shanxi were 143 cases, of which Shanxi Consumer Finance accounted for 140 cases, a quarter-on-quarter increase of 21.74%, representing 97.90% of the total complaints against non-banking financial institutions.

About a month before the release of the consumer complaint report for the banking industry in Shanxi Province in the second quarter, on September 29, the China Banking and Insurance Regulatory Commission issued the “Notice on Further Strengthening Consumer Complaint Handling Work.” The CBIRC stated that it will highlight the assessment focus on consumer complaints and strengthen accountability and traceability rectification. Especially for the latter, the CBIRC emphasized that for complaints involving responsible institutions and poor handling, the direct responsible personnel and management personnel should be held accountable according to relevant regulations.

The official website shows that Shanxi Consumer Finance was established on February 23, 2016. By the end of 2021, Shanxi Consumer Finance had issued over 73.2 billion yuan in inclusive consumer loans, serving more than 16.8 million consumers in total.

Yuxin Technology (300674), which holds a 20% stake in Shanxi Consumer Finance, reported in its 2022 semi-annual report that as of the end of the reporting period, Shanxi Consumer Finance’s total revenue was approximately 210 million yuan, a quarter-on-quarter decrease of about 23.64% from 275 million yuan; net profit was 25.6137 million yuan, a slight increase from 25.2868 million yuan in the previous period.

However, despite the slight increase in net profit, Shanxi Consumer Finance experienced a “shrinking” in total assets quarter-on-quarter.

According to Yuxin Technology’s 2022 semi-annual report, as of June 2022, Shanxi Consumer Finance’s total assets were approximately 7.698 billion yuan, a decrease of 2.45% from 7.891 billion yuan in the previous period.

Editor: Song Yuting

Proofreader: Lu Qian

（Editor: Ma Jinlu HF120）

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