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The financial and prudential performance of Chinese banks and Fintech lenders in the era of digitalization

Author

Listed:
  • Paraskevi Katsiampa

    (The University of Sheffield)

  • Paul B. McGuinness

    (The University of Sheffield
    Chinese University of Hong Kong)

  • Jean-Philippe Serbera

    (Sheffield Hallam University)

  • Kun Zhao

    (Chongqing Rural Commercial Bank)

Abstract

The years 2013 to 2019 marked an explosion in Fintech in China. We analyze the financial and prudential performance of 40 exchange-traded banks and 25 listed Fintech lenders in China during this watershed period. Among other things, traditional banks experienced rising operating costs, declining profit margins and softening loan quality. Consistent with a process of adaptation, traditional bank performance stabilized in the latter part of the study period (2018-19) after an initial period of decline. Study findings also highlight rising business and regulatory costs for Fintech providers over the course of the study frame. A marked deterioration in online lenders’ Special Mention and Non-Performing Loan (SML & NPL) positions arose during the period. Within the traditional bank group, smaller entities with fewer growth options and greater foreign ownership fared worst in prudential terms. Traditional banks’ financial and prudential performance also declines with time since IPO. Relative to joint stock commercial, city and rural banks, state-owned lenders registered more resilient performance, especially in relation to asset quality. In a final area, we construct a categorical Fintech proficiency variable for China's established banks. Our preliminary evidence suggests such proficiencies help stabilize SML and NPL rates and support financial returns. Overall, we offer major contribution to the banking literature by analyzing the financial and prudential performance of both incumbent and emerging lenders in one of the world’s most dynamic Fintech settings.

Suggested Citation

  • Paraskevi Katsiampa & Paul B. McGuinness & Jean-Philippe Serbera & Kun Zhao, 2022. "The financial and prudential performance of Chinese banks and Fintech lenders in the era of digitalization," Review of Quantitative Finance and Accounting, Springer, vol. 58(4), pages 1451-1503, May.
  • Handle: RePEc:kap:rqfnac:v:58:y:2022:i:4:d:10.1007_s11156-021-01033-9
    DOI: 10.1007/s11156-021-01033-9
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    3. Qilong Wan & Xiaodong Miao & Chenguang Wang & Hasan Dinçer & Serhat Yüksel, 2023. "A hybrid decision support system with golden cut and bipolar q-ROFSs for evaluating the risk-based strategic priorities of fintech lending for clean energy projects," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-25, December.

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    More about this item

    Keywords

    Financial technology (Fintech); Prudential success; Special Mention Loans (SMLs); Non-Performing Loans (NPLs) ; China; Financial returns; Private versus state ownership; Foreign equity ownership; Time since IPO;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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