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The trust industry “squeezing water” fell 13.5%
Beijing Business DailyMeng Fanxia Song Yitong
Due to regulatory policies and market conditions, the scale of trust assets has further declined. On March 13, according to data released by China Trust Industry Association (hereinafter referred to as "trust industry association"), as of the end of 2018, the trust assets of 68 trust companies nationwide fell to 22.7 trillion yuan, down 13.5% from the end of 2017. However, in the fourth quarter of last year, the risk project of the trust industry increased by 40 to 872 from 832 at the end of the third quarter of 2018.
In April 2018, the “Guiding Opinions on Regulating the Asset Management Business of Financial Institutions” issued by the regulatory authorities (the “New Regulations for Asset Management”) put forward the bottom line thinking of strictly controlling risks, reducing the risk of stocks and preventing the incremental risks from making the trust industry Asset size fell year-on-year. According to the data of the Trust Industry Association, as of the end of the fourth quarter of 2018, the trust assets of 68 trust companies nationwide decreased to 22.7 trillion yuan, down 13.5% from the end of the fourth quarter of 2017.
From the quarter-on-quarter growth rate, the growth rate of the first quarter of 2018 was -2.41%, the growth rate of the second quarter and the third quarter was -5.25% and -4.65%, respectively, and the fourth quarter was -1.89%. In the four quarters of 2018, the scale of trust assets decreased by 632.235 billion yuan, 1,344.617 billion yuan, 1,12,293 million yuan, and 437.947 billion yuan. The scale of the assets under the trust was adjusted in the first three quarters. In the fourth quarter, the fluctuations were relatively small. Smooth stage.
Judging from the annual report data, the performance of many trust institutions has declined in 2018, and the overall size of the industry is no exception. According to the data of the Trust Industry Association, in the fourth quarter of 2018, the trust industry realized operating income of 39.297 billion yuan, down 9.53% from 43.436 billion yuan in the fourth quarter of 2017. In the fourth quarter of 2018, the investment income reached 8.931 billion yuan, down 26.3% from 12.118 billion yuan in the fourth quarter of 2017.
According to the financial statements issued by 61 trust companies, the net profit of the industry in 2018 showed a negative growth. According to the situation of various trust companies, 23 companies achieved positive growth in net profit, and 38 companies achieved negative growth, accounting for about 60% of the total number of trust companies. Wang Hejun, general manager of Yunnan Trust Research and Development Department, believes that the current trust industry differentiation has intensified. According to the 2018 trust income and the compound growth rate in the past three years, trust companies can be divided into five groups. The first echelon is CITIC Trust and Ping An Trust, and the income is far ahead; the second echelon company has a good performance and rapid growth; the third echelon company has a large base, but its performance growth momentum is weak; the fourth echelon company has a small base and rapid growth; The performance of the fifth echelon company has been declining for a long time and is at the end of the industry.
It is worth noting that the risk projects in the trust industry are gradually increasing. The risk items at the end of the third quarter of 2018 increased by 59 compared with the second quarter, and the scale increased by 12.9% compared with the 191.03 billion yuan in the second quarter. The number of risk projects in the trust industry at the end of the fourth quarter was 872, an increase of 40 from the end of the third quarter. It was 22.214 billion yuan, an increase of 2.88% over the third quarter of 215.973 billion yuan. The trust asset risk ratio was 0.98%, which was 0.05 percentage points higher than the 0.93% in the third quarter.
At the same time, we must also see that, based on the slight decline in China's economic growth rate and the increase in financial risk points, the trust industry has continuously improved its compensation for possible risks. As of the end of the fourth quarter of 2018, the trust compensation reserve was 26.071 billion yuan, a year-on-year increase of 17.9%, which was 3.959 billion yuan more than the 22.11 billion yuan at the end of the fourth quarter of 2017, an increase of 9.64% from the end of the third quarter of 23.778 billion yuan. The ratio of trust compensation reserves to owner's equity increased from 4.21% at the end of the fourth quarter of 2017 to 4.34% at the end of the third quarter of 2018, to 4.53% at the end of the fourth quarter. Yin Xingmin, director of the Fudan University Trust Research Center, said that this reflects the trust industry's preparation for raising funds to cope with risks. In the context of shrinking the size of the entrusted assets, the trust industry's risk resilience has improved.
Editor in charge: Fu Jianqing RF13564
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