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China Banks


Agricultural Bank of China The Agricultural Bank of China (ABC) is the one of the "Big Four" banks in the People's Republic of China. It was founded in 1949, and has its headquarters in Beijing and has branches throughout mainland China, and also in Hong Kong and Singapore. It employs over 300,000 people. As of 2004 it had an annual turnover of US$13.3 billion. By the end of 2005, the Agricultural Bank of China became the second largest bank in China in terms of total assets, which had hit 4.88 trillion yuan (US$605 billion), second only to the Industrial and Commercial Bank of China (ICBC). The Agricultural Bank was the victim of the largest bank robbery in Chinese history in April 2007, when two vault managers at the Handan branch of the ABC in Hebei province embezzled almost 51 million yuan.
Agricultural Development Bank of China The Agricultural Bank of China (ABC) is the one of the "Big Four" banks in the People's Republic of China. It was founded in 1949, and has its headquarters in Beijing and has branches throughout mainland China, and also in Hong Kong and Singapore. It employs over 300,000 people. As of 2004 it had an annual turnover of US$13.3 billion. By the end of 2005, the Agricultural Bank of China became the second largest bank in China in terms of total assets, which had hit 4.88 trillion yuan (US$605 billion), second only to the Industrial and Commercial Bank of China (ICBC). The Agricultural Bank was the victim of the largest bank robbery in Chinese history in April 2007, when two vault managers at the Handan branch of the ABC in Hebei province embezzled almost 51 million yuan.
Bank of Beijing The Bank of Beijing (SSE: 601169) is a bank based in Beijing, People's Republic of China. Founded on January 8, 1996 as Beijing City Commercial Bank (sometimes referred to as Beijing Commercial Bank), it adopted its present name in January 2005. The largest shareholders of the bank include: Government of the City of Beijing, and ING from the Netherlands.
Bank of China Bank of China Limited (BOC) SSE: 601988 SEHK: 3988 is one of the big four state-owned commercial banks of the People's Republic of China. Founded in 1912 to replace the Ta Ching Government Bank, it is the oldest bank in China. From its establishment until 1942, it issued banknotes on behalf of the Central Government along with the "Big Four" banks of the period: the Central Bank of China, Farmers Bank of China and Bank of Communications. Although it initially functioned as the Chinese central bank, in 1928 the Central Bank of China replaced it in that role. Subsequently, BOC became a purely commercial bank. After the Chinese civil war ended in 1949, the Bank of China effectively split into two operations. Part of the bank relocated to Taiwan with the Kuomintang government. It was privatised in 1971 to become the International Commercial Bank of China. It has subsequently merged with the Taiwan Bank of Communications to become the Mega International Commercial Bank. The Mainland operation is the current entity known as the Bank of China. It is the second largest lender in China overall, and the 8th largest bank in the world by market capitalization value. Once 100% owned by the central government, via Central Huijin Investment and National Council for Social Security Fund (SSF), an IPO of its shares took place in June 2006, the free float is at present over 26%. It is the most international of China's banks, with branches on every 'major' continent. Outside of mainland China, BOC also operates in 27 countries including:
  • Australia, Canada, United Kingdom, France, Germany, Italy, Luxembourg, Russia, Hungary, United States, Panama, Brazil, Japan, Republic of Korea, Singapore, Taiwan, Philippines, Vietnam, Malaysia, Thailand, Indonesia, Kazakhstan, Bahrain, Zambia, South Africa and there's also another branch office in Cayman Islands.
Although it is present in the above countries/territories, its operations outside China accounted for less than 4% of the activity of the bank by both profits and assets. Mainland China accounts for 60% of the bank by profits and 76% by assets as at December 2005.
Bank of China (Hong Kong) Bank of China (Hong Kong) Limited is the second-largest commercial banking group in Hong Kong in terms of assets and customer deposits, with more than 300 branches in Hong Kong. It was established on October 1, 2001 from a merger of 12 subsidiaries and associates of the Bank of China in Hong Kong, and listed on the Hong Kong Stock Exchange in October 2002. As of the end of 2003, the bank had HK$763 billion in assets and earned net profit of HK$8 billion in 2003. BOCHK is one of the three banks which issue banknotes for Hong Kong, the biggest member and a founder of the JETCO ATM and payment system, and the designated clearing bank in Hong Kong for transactions involving the renminbi, Mainland China's currency. It is legally separate from its parent, Bank of China (BOC), although they maintain close relations in management and administration and cooperate in several areas including reselling BOC's insurance and securities services. It also shares its Hong Kong headquarters, the Bank of China Tower, with its parent; completed in 1988, this was the first building outside of North America to exceed 1,000 feet (300 m).
Bank of Communications Bank of Communications Limited (BoCom or BoComm) SEHK: 3328 SSE: 601328 was founded in 1908 (the 34th year of the Guangxu reign period, Qing Dynasty) and emerged as one of the first few major national and note-issuing banks in the early days of the Republic of China. It was chartered as "the Bank for developing the country's industries". In order to expand business to the overseas arena, the Bank opened its first Hong Kong Branch on 27 November 1934. After the Chinese Civil War ended in 1949, the Bank of Communications, like the Bank of China, was effectively split into two operations, part of it relocating to Taiwan with the Kuomintang government. In Taiwan, the bank is also known as Bank of Transportation. It has eventually merged with the International Commercial Bank of China, the renamed Bank of China in Taiwan after its 1971 privatization to become the Mega International Commercial Bank. The mainland operation is the current Bank of Communications. Following the State Council's decision to restructure the Bank in 1986, the Bank was then restructured and re-commenced operations on 1 April 1987. Since then, its Head Office has been relocated from Beijing to Shanghai. Today, the Bank of Communications is amongst the top 5 leading commercial banks in China and has an extensive network of over 2,800 branches covering over 80 major cities. Apart from Hong Kong, the Bank has also established overseas branches in New York, Tokyo, Singapore and representative offices in London and Frankfurt. As of end-2002, the Bank had over 45,000 employees and a total asset reaching RMB 766.874 billion. The Bank was awarded "The Best Bank in China" by international acclaimed magazines Euromoney and Global Finance in 1998 and 1999 respectively. According to the latest ranking of 1000 banks worldwide conducted by the authoritative magazine The Banker, Bank of Communications was ranked 94th, its first time to join the Top-100 list. In addition, the Feb 2003 edition of The Banker also ranked Bank of Communications 92nd amongst the 100 most efficient lending banks of the world.
Bank of East Asia The Bank of East Asia Limited (SEHK: 0023,OTCBB: BKEAY) often abbreviated to BEA, is the largest independent local bank and the third largest bank in Hong Kong. Its Chairman and Chief Executive is The Hon Dr David Li Kwok-po. It was founded in Hong Kong in 1918 and has since grown to a HK$19.4 billion (US$2.5 billion) market capitalization. It is listed on the Hong Kong Stock Exchange as BEA. The Bank of East Asia has more than 100 branches to serve its retail customers in Hong Kong, therefore the bank's cost of interest is also competitive. In 1995, BEA acquired United Chinese Bank, which was fully merged with the bank in 2001. In 2000 it acquired First Pacific Bank.
Bank of Shanghai Bank of Shanghai is a bank based in Shanghai in the People's Republic of China. In September 1999 and December 2001, Bank of Shanghai received equity investments from International Finance Corporation, HSBC and Shanghai Commercial Bank in Hong Kong.
Bank of Taiwan The Bank of Taiwan (BOT, traditional Chinese: pinyin: Táiwān Yínháng) is a government-owned bank in Taipei City, Taiwan.
Bohai Bank Bohai Bank is a commercial bank in Tianjin, China. The capital of the bank is 5 billion yuan (US$616.5 million).
Cathay United Bank Cathay United Bank is the bank formed by the merger of United World Chinese Commercial Bank and Cathay United Bank, both are the 100%-owned subsidiaries of Cathay Financial Holding Company. United World Chinese Commercial Bank is the Surviving Company but the merged bank is re-named under Cathay United Bank, effective on October 27, 2003.
Central Bank of China The Central Bank of the Republic of China, formerly known in English as the Central Bank of China, is the central bank of the Republic of China (Taiwan). Its legal and common name in Chinese (in Taiwan and elsewhere) is simply the "Central Bank" (traditional Chinese: pinyin: Zhōngyāng Yínháng). The central bank is governed under the Executive Yuan. It should not be confused with the Bank of China, or People's Bank of China, which are, respectively, a commercial bank and the central bank of the People's Republic of China on the Chinese mainland.
The bank was established under Sun Yat-sen's administration in Guangzhou in 1924. Following the success of the Northern Expedition, the Central Bank took over the role of acting as the central bank of the Republic of China from the Bank of China in 1928, with its headquarters in Shanghai. Before 1949, it was one of the "Big Four" national banks of China.
After the loss of the mainland in the Chinese Civil War by the Kuomintang and its subsequent retreat to Taiwan in 1949, the Central Bank of China also moved along with the government to Taiwan. However, until the Central Bank of China was re-established in 1961, the Bank of Taiwan acted as a de facto central bank. The Bank of Taiwan also issued the New Taiwan dollar until 2000, when the Central Bank of China finally took over.
Chekiang First Bank Ltd Chekiang First Bank previously belonged to Japan's Mizuho Financial Group. Wing Hang Bank had formally completed its takeover on August 2004.
China CITIC Bank China CITIC Bank (simplified Chinese: 中信银行; traditional Chinese: 中信銀行; pinyin: Zhōng Xìn Yínháng)(SEHK: 0998 SSE: 601998) is China’s seventh-largest lender in terms of total assets. It is formerly known as CITIC Industrial Bank. China CITIC Bank, established in February 1987, is a nationally comprehensive and internationally oriented commercial bank. By end of October 2005, its network comprises 418 branches countrywide, and includes established correspondent relationships with 990 banks and their branches in 70 countries around the world. China CITIC Bank is a wholly-owned subsidiary of China International Trust and Investment Corporation (CITIC), with assets of RMB 576 billion (USD 71 billion). As of 2006, China CITIC Bank had a non-performing loan (NPL) ratio of 2.5% (RMB 11.1 billion). The bank’s capital adequacy ratio is 9.1%. Since the bank has been listed in the Hong Kong Stock Exchange, it performs the poorest among the all pro-PRC financial stocks. It dropped below the IPO price, HK$5.80, and closed at HK$5.79 on 5 June, 2007. It is the second Hong Kong China-based financial stock which drops below the IPO price, after People's Insurance Company of China.
China Construction Bank The China Construction Bank (CCB) SSE: 601939 SEHK: 0939 is one of the 'big four' banks in the People's Republic of China. Up to date, it is ranked as the nation's second largest. The bank has approximately 13629 domestic branches. In addition, it maintains overseas branches in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo and Seoul, as well as representative offices in New York, London and Sydney.
China Development Bank The China Development Bank (CDB) is a financial institution in the People's Republic of China (PRC) under the direct jurisdiction of the State Council. It is the only bank in China whose governor is a full minister. It is one of the three policy banks of the PRC, primarily responsible for raising funding for large infrastructure projects, including most of the funding for the Three Gorges Dam and Shanghai Pudong International Airport. The bank was established by the Policy Banks Law of 1994. Debts issued by CDB are fully guaranteed by the central government of the People's Republic of China. CDB is one of the biggest issuers of bonds in the PRC. The bank had RMB 1.5 trillion in loans outstanding as of the end of 2004. During 2004, the bank made a profit of about US $2 billion. The bank is the most profitable bank in China, and the second most profitable bank in Asia. In year 2005 and 2006, China Development Bank successfully issued two pilot ABS products in domestic China market. Together with another ABS products issued by China Construction Bank, they have set the corner stone for a promising debt capital & structured finance market. After governor Chen Yuan (formerly the executive deputy governor of the PRC's central bank The People's Bank of China) took over the bank in 1998, CDB has experienced tremendous growth in profit and reduction in bad loan rate. Currently, it is the most healthy bank in China with a bad loan rate of about 1% at the end of 2004. This is an extraordinary achievement for a Chinese bank considering that the four major state owned commercial banks all have high double digit bad loan rates. CDB has about 3500 employees at the end of 2004, about 1000 of them work at the Beijing Headquarters and the rest are spread out in 32 branches throughout the country. The bank does not take private savings, and hence does not have thousands of local branches like other major banks in China do. According to Michelle Chan-Fishel, program manager of the Green Investments Program at Friends of the Earth–US in San Francisco, CDB is the only Chinese bank to adopt its own environmental financing standards. She said: "Based on publicly available data, only one Chinese bank – China Development Bank – has adopted its own environmental financing standards." The China Development Bank under the supervision of the central government is tasked with the development of socialist market economic system and to propel China's concerted and sustainable economic and social development.
China Everbright Bank China Everbright Limited (SEHK: 165) is a financial services company in asset management, direct investment, brokerage and investment banking in the Greater China region, including Mainland China and Hong Kong. It is parented by China Everbright Group, a state-owned enterprise operated under the supervision of the State Council of the People's Republic of China. China Everbright Holding Company Limited was established in Hong Kong in 1983. It then acquired several listed companies and restructured to form China Everbright Limited (HKEX: 165) and China Everbright International Limited (HKEX: 257). China Everbright Limited was listed on the Hong Kong Stock Exchange in 1997.
China Merchants Bank China Merchants Bank (CMB) is a bank headquartered in Shenzhen, China. Founded in 1987, it is the first share-holding commercial bank wholly owned by corporate legal entities. CMB has over five hundred branches in mainland China and one in Hong Kong. In November 2007, as part of a drive for international growth, it won approval to open a branch in New York.
Chinatrust Commercial Bank Chinatrust Commercial Bank Limited or CTCB is one of the largest private bank in Taiwan, Republic of China, controlled by Koo Chen-fu family.
Generale Belgian Bank Generale Belgian Bank was a bank established by Belgium's Generale Bank in Hong Kong in 1935, yet it was incorporated in Belgium. It merged with Fortis's operations in Hong Kong in 1998 and was renamed Fortis Bank Asia HK, trading as Fortis Bank Asia. It has been the banker of the Catholic Diocese of Hong Kong and also one of the two banks in the region to provide equipment loans. In 2003, Fortis announced that it would sell its Hong Kong retail and wholesale operations to ICBC (Asia). The operations that were to be merged with ICBC (Asia) were named Belgian Bank(but with the ICBC logo) on May 1, 2004, pending a full merger with ICBC (Asia), which requires approval by the Legislative Council of Hong Kong[1]. On October 10, 2005, the merger was completed successfully with all branches of Belgian Bank renamed as ICBC (Asia).
Guangdong Development Bank Guangdong Development Bank is a bank based in Guangzhou, Guangdong in People's Republic of China. The bank was established in September 1988 as a joint stock commercial bank. Guangdong Development Bank is a mid-size national bank with more than 500 branches in China. Based in the Guangdong province bordering Hong Kong, GDB has assets of $47.9 billion, 12 million consumer customers, 9 million bank cardholders, 16,000 small and medium-sized business customers and 12,474 employees. Its problems seem to lie in weak capitalization and a history of bad loans. Citigroup has a 20% stake, while IBM holds 4.74%, keeping the two American companies below the 25% threshold for overall foreign ownership. China Life and State Grid each owns 20%, CITIC Trust, 12.85% and Puhua will hold the remaining 8% of the equity sold.
Hang Seng Bank Hang Seng Bank Limited (SEHK: 0011, OTCBB: HSNGY) is the second largest bank in Hong Kong. It is a listed company but it is majority owned (62.14% equity interest) by the HSBC Group via The Hongkong and Shanghai Banking Corporation. Hang Seng is also one of the constituent shares of the Hang Seng Index. The current vice-chairman and CEO is Raymond Or Ching-fai. Mr. Vincent Cheng has been appointed to be the Chairman (designate) of The Hongkong and Shanghai Banking Corporation. He took up the post on May 25 2005.
Hong Kong and Shanghai Banking Corporation The Hongkong and Shanghai Banking Corporation Limited, based in Hong Kong, is a wholly owned subsidiary and the founding member of the HSBC Group, which is traded on several stock exchanges as HSBC Holdings plc. The business ranges from the traditional High Street roles of personal finance and commercial banking, to corporate and investment banking, and private banking. Known locally by the affectionate term Honkers and Shankers or equally its old trademark HongkongBank, the bank was founded by the Scot Thomas Sutherland to finance trade in the Far East in 1865. It is the largest bank in Hong Kong and has offices in Asia Pacific region.
Huaxia Bank Hua Xia Bank (SSE: 600015) is a bank based in Beijing in the People's Republic of China.
Industrial and Commercial Bank of China Industrial and Commercial Bank of China (ICBC) is the largest of China's "Big Four" state-owned commercial banks (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank). It is the largest bank in the world in terms of market value and one of the world's top ten banks by assets. It was founded as a limited company on January 1, 1984. As of 2006, it had assets of RMB 7,055 billion (US$893 billion), with over 18,000 outlets including 106 overseas branches and agents globally.In July 2007, with a market capitalization of US$254 billion it became the world's most valuable bank after a strong gain in its share price, overtaking Citigroup.
Industrial Bank Co. Industrial Bank Co., Ltd. SSE: 601166 is a bank based in Fuzhou, Fujian, China. From the day of its establishment on August 26, 1988 to its first name change in June 2001, the bank was called Fujian Industrial Bank. From June 2001 to March 3, 2003, it was formerly known as Fujian Industrial Bank Joint-Stock Corporation, Limited, or abbreviated to Industrial Bank (China). The bank is one of China 's joint-stock commercial banks. According to The Banker, the bank was ranked No. 210 among the top 1,000 banks worldwide 2005 in terms of total assets. It should not be confused with the Industrial Bank of China, a defunct bank in the 1910s or the National Industrial Bank of China, which merged with the Bank of China in the 1950s nor with the Industrial and Commercial Bank of China (ICBC).
Kincheng Banking Corporation Keep progressing with time, Kincheng Banking Corporation has now expanded and grown to become one of the top 500 banks in the world.
Kwong On Bank DBS Bank (Hong Kong) Limited, a subsidiary of DBS Bank headquartered in Singapore, is a licensed bank incorporated in Hong Kong. It is the fifth largest bank in Hong Kong as measured by assets.
Land Bank of Taiwan Land Bank of Taiwan is a wholly state-owned bank of the Republic of China (Taiwan). It was owned by the Taiwan Provincial Government before its downsizing in December 21, 1998, when it was transferred to the jurisdiction of the Executive Yuan. Its predecessor under Japanese rule was the Nippon Kangyo Bank. NKB branches in Taipei, Hsinchu, Taichung, Tainan and Kaohsiung were taken over by the ROC government following the end of the World War II, to facilitate the implementation of land policies such as land-rights equalisation and the land-to-the-tiller programme. The branches were reorganised into the Land Bank on September 1, 1946.
It is the only bank designated by the ROC government as a specialised bank for handling real estate and agricultural credit. Its objective is to develop national economic construction in coordination with the implementation of the government's housing, agricultural, and land policies.
Minsheng Bank China Minsheng Bank (SSE: 600016), founded on January 12, 1996 in Beijing, is the first bank in China to be owned mostly by non-government enterprises.It has over two hundered banking outlets throughout China and relationships with more than seven hundred banks overseas.
Mega International Commercial Bank The Mega International Commercial Bank is one of the leading banks in Taiwan. It has 105 branches in Taiwan along with 17 branches, 2 representative offices and 2 wholly-owned subsidiaries abroad. The bank's total workforce is over 4,900 and its aggregate paid-in capital is approximately NT$64.1 billion.
People's Bank of China The People's Bank of China (PBC or PBOC) is the central bank of the People's Republic of China (not to be confused with the Bank of China or the Central Bank of China) with the power to control monetary policy and regulate financial institutions in mainland China. The Governor of the People's Bank of China is nominated by the Premier and approved by the National People's Congress, and is also member of the State Council. The current Governor is Zhou Xiaochuan. The People’s Bank of China has more financial assets than any other single public finance institution in the history of the world.
Shanghai Pudong Development Bank Shanghai Pudong Development Bank Co. Ltd (SPDB), (SSE: 600000) incorporated on January 9, 1993 with the approval of the People's Bank of China (August 28, 1992), is a joint-stock commercial bank with its headquarters located in Shanghai. Shanghai Pudong Development Bank issued a 400 million A-share offer on September 23 1993 on the Shanghai Stock Exchange. It became the first shareholding commercial bank to list with both Central Bank and China Securities Regulatory Commission’s approval since the enactment of "Commercial Bank Law" and "Securities Law". Thus, the registered capital reached RMB 2.41 billion. 320 million shares of the issue were listed on the Shanghai Stock Exchange on November 10, 1999 (stock code 600000).
Shenzhen City Commercial Bank Shenzhen City Commercial Bank is a commercial bank based in Shenzhen in the People's Republic of China.
Shenzhen Development Bank Shenzhen Development Bank Co., Ltd. SZSE: 000001 is a bank based in Shenzhen, Guangdong, People's Republic of China. It is listed on the Shenzhen Stock Exchange, ticker 000001.SZ.
Sinopac The bank was founded by Samuel Yin and Paul Lo in 1992 as Taiwan liberalized its banking regulations. As Taiwan continued to liberalize its financial market, SinoPac acquired a securities business from the Hong family of local fame in early 2000's. In late 2005, SinoPac merged with the International Bank of Taiwan (IBT). SinoPac, like many other Taiwanese financial institutions, has branches and operations in the United States and major Asian cities; however, SinoPac is unique in its foresight in building on-the-ground business in the US and China. Far East National Bank, a wholly owned California chartered bank was acquired in 1997; SinoFirst, located in Shanghai, China, was acquired in late 1990s.
Standard Chartered Bank Standard Chartered Bank (LSE: STAN, SEHK: 2888,OTCBB: SCBFF) is a British bank headquartered in London with operations in more than seventy countries. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and employs 73,000 people. Despite its British base, it has few customers in the United Kingdom and 90% of its profits come from Asia, Africa, and the Middle East. Because the bank's history is entwined with the development of the British Empire its operations lie predominantly in former British colonies, though over the past two decades it has expanded into countries that have historically had little British influence. It aims to provide a safe regulatory bridge between these developing economies. It now focuses on consumer, corporate, and institutional banking, and on the provision of treasury services—areas in which the Group had particular strength and expertise. Standard Chartered is listed on the London Stock Exchange and the Hong Kong Stock Exchange and is among the top 25 constituent members of the FTSE 100 Index.
Taishin International Bank Established in 1992 Taishin International Bank (or just Taishin Bank) is headquartered in Taipei, Taiwan. Taishin International Bank merged Dah An Commercial Bank and established the Taishin Financial Holdings through share swap/share exchange in Feb. 2002.
Taiwan Cooperative Bank The Taiwan Cooperative Bank (TCB,合作金庫銀行)is a public bank headquartered in Taipei City, Taiwan. Originally formed by the Japanese during the Taiwan under Japanese rule in 1923, TCB was took over by the Republic of China government since 1946 and has been prospering. Today it is one of the most prominent bank in Taiwan, having the most branches(301) among all banks in Taiwan.
The Export-Import Bank of China The Export-Import Bank of China is one of three institutional banks in China. It was founded in 1994, and is under direct jurisdiction of the State Council.
Zhejiang Tailong Commercial Bank Zhejiang Tailong Commercial Bank is a small Chinese commercial bank in Taizhou, Zhejiang. The bank has a relatively short history but its fame is much greater than its small size and short history, because it is credited by many as the Chinese equivalent of the Grameen Bank, the bank for the poor in China, though there are some significant difference between the two. The bank had a very humble beginning as a credit union with an asset of only one million Renminbi Yuan and seven employees in two small rented rooms dated back on June 28, 1993. The bank has since gradually expanded and today, it has a total of nine branches in addition to its headquarter and ranked number two among the biggest eleven local banks in the Luqiao Precinct of Taizhou, Zhejiang, with 21.9% of total local deposits, and 20.27% of total local loans by the end of 2006. On August 15, 2006, the status of the bank was successfully upgraded from credit union to commercial bank, and thus was accordingly renamed as Zhejiang Tailong Commercial Bank from its original name Taizhou City Tailong Urban Credit Union.
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