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Bank of Beijing

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Bank of Beijing
Company typePublic
SSE: 601169(ordinary)
SSE: 360018(preference 1)
SSE: 360023(preference 2)
SSE 50 Component
ISINCNE100000734
IndustryFinancial services
Founded29 January 1996 (1996-01-29)
Headquarters
Beijing
,
China
Number of locations
561 branches and representative offices (end 2017)
Area served
  • mainland China
  • Hong Kong S.A.R., China (representative office)
  • Amsterdam, the Netherlands (representative office)
Key people
Zhang Dongning(chairman)
Yang Shujian(governor)
Zeng Ying(chief supervisor)
Services
  • retail banking
  • corporate banking
  • bancassurance (life insurance only)
RevenueIncrease CN¥0050 billion (2017)
Increase CN¥0023 billion (2017)
Increase CN¥0019 billion (2017)
Total assetsIncrease CN¥2.329 trillion (end 2017)
Total equityIncrease CN¥0175 billion (end 2017)
Owner
Beijing municipal government(17.22%)
ING Bank(13.03%)
Macro-Link Holding(08.57%)
general public and other shareholders(61.18%)
Chinese name
Simplified Chinese北京银行股份有限公司
Traditional Chinese北京銀行股份有限公司
Literal meaningBeijing Bank, Company Limited by Shares
Transcriptions
Standard Mandarin
Hanyu PinyinBěi jīng yín háng gǔ fèn yǒu xiàn gōng sī
Chinese short name
Simplified Chinese北京银行
Traditional Chinese北京銀行
Transcriptions
Standard Mandarin
Hanyu PinyinBěi jīng yín háng
Capital ratioIncrease 8.92% (CET1 at end 2017)
RatingBB+ (Fitch, September 2017)[1][2]
Websitewww.bankofbeijing.com.cn
Footnotes / references
in consolidated financial statement[3]
Bank of Beijing in Hangzhou

Bank of Beijing Co., Ltd. (abb. BOB) is an urban commercial bank based in Beijing, China. According to the bank, most of the revenue came from Beijing,[3]: 16–17  despite that the banking group had more than half of the branches located outside the direct-controlled municipality (As of 31 December 2017, 302 out of 559 branches were located outside Beijing).[3]: 23–24  Beijing Municipal People's Government and the Netherlands-based multinational bank ING Bank were the major shareholders of the bank.

As of April 2018, the bank, as a listed company, is a constituent of SSE 180 Index,[4] as well as its sub-index, the blue chip SSE 50 Index.[5] It was also part of pan-China indexes such as FTSE China A50 Index[6] and CSI 100 Index.

History

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The bank, initially known as 北京城市合作银行, was incorporated on 29 January 1996.[3][7] (or founded on 8 January 1996 according to another source;[8] the establishment of the bank was approved by various departments in June–December 1995.[7]) The bank was founded as a holding company for the credit unions (Chinese: 城市信用社) in the city. However, in 1997, it was discovered that one of the former credit union of the banking group in Zhongguancun, had an accounting scandal with a huge deficit.[9] The manager of that branch was arrested in 2011 and was sentenced 14 years imprisonment in 2012;[10] the governor of that branch was arrested in 1998 and was sentenced capital punishment in 2003.[11]

It was known as 北京市商业银行 (literally Beijing City Commercial Bank) since 1998,[8] as one of the licensee of urban commercial bank (Chinese: 城市商业银行). In 2004, China Banking Regulatory Commission approved the renaming to Bank of Beijing (Chinese: 北京银行).[12] It became effective on 1 January 2005.[13]

In 2005, the bank became a Sino-foreign joint venture, which ING Group purchased 19.9% shares of the bank.[14] On 19 September 2007, the bank became a listed company on the Shanghai Stock Exchange.[4][7][15] The bank also purchased a Sino-foreign joint venture insurance company, which was previous known as ING Capital Life Insurance in 2010, from municipal-owned Beijing Capital Group.[16] As of 31 December 2017, the bank still owned 50% stake of the insurer,[3] which now known as BOB-Cardif Life.[17] Despite that it was now a joint venture of the bank and French multinational company Cardif, the insurer was still known as 中荷人寿 in Chinese,[3] literally Sino-Dutch Life Insurance.

In December 2017, ING subscribed the capital increase of the bank, despite that the ownership ratio of the ordinary shares was still diluted from 13.6% to 13.0%.[18] Before the capital increase, Beijing municipal government only owned 8.84% shares via Beijing State-owned Assets Management, as well as additional 5.08% via Beijing Energy Investment Holdings.[19] However, it also caused a minor controversy in 2013, as Ren Zhiqiang (Chinese: 任志强), an independent director of the bank, accused the State-owned Assets Supervision and Administration Commission (SASAC) of Beijing municipal government[nb 1] had influenced the election of the supervisory board (Chinese: 监事会) of the bank, which Qiang Xin (Chinese: 强新), the deputy of Beijing SASAC was elected as the chairwoman of the supervisory board (Chinese: 监事长), replacing Shi Yuan (Chinese: 史元). Qiang also served as the Deputy Party Committee Secretary of the bank since 2010.[20][21] Qiang was succeeded by Zeng Ying (Chinese: 曾颖) in 2016; she was the deputy of Beijing Bureau of China Banking Regulatory Commission in 2011.[19]

The bank also faced another minor scandal in February 2015, in which a director of the bank, Lu Haijun (Chinese: 陆海军) was under investigation for corruption.[22] He was dismissed by the shareholders' meeting during 2015.[23] Since 2008, Lu was also the chairman of Beijing Energy Investment Holdings, a shareholder of the bank.[24] Lu was sentenced 11 years imprisonment for his crime as the manager of Beijing Energy Investment Holdings in 2016.[25]

Joint ventures

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As of 31 December 2017[3]

Equity investments

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As of 31 December 2017[3]

Shareholders

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Beijing Municipal People's Government and the Netherlands-based multinational bank ING Bank were the major shareholders of the bank. As of 31 December 2017, ING owned 13.03%, Beijing municipal government, via Beijing State-owned Assets Management, owned 8.63% ordinary shares, as well as additional 8.59% shares owned via Beijing Energy Investment Holdings. The third largest shareholder, Macro-Link Holding (Chinese: 新华联控股), was a private company.[29]

Ranking

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The bank was ranked as the 73rd in the world (and 15th in the mainland China) in 2017 Top 1000 World Banks by The Banker magazine, in terms of banks' equity.[30] The bank was ranked 155th in 2010 (12th inside the mainland China),[31] and 77th in 2016 in Top 1000 World Banks.[32]

See also

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  • Huaxia Bank, another Beijing based medium-sized bank, which was also a Sino-foreign joint venture

Footnotes

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  1. ^ The parent entity of Beijing State-owned Assets Management and Beijing Energy Investment Holdings

References

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  1. ^ "Fitch Affirms 6 Chinese Mid-Tier Banks; Outlook Stable". Reuters (Press release). Hong Kong, Shanghai: Fitch. 5 September 2017. Retrieved 7 May 2018.
  2. ^ "Safest 25 Banks In China 2017". Global Finance. 8 November 2017. Retrieved 7 May 2018.
  3. ^ a b c d e f g h "2017 nián nián dù bào gào" 2017年年度报告 [2017 Annual Report] (PDF) (in Chinese (China)). Bank of Beijing. 27 April 2018. Retrieved 30 April 2018 – via Shanghai Stock Exchange website.
  4. ^ a b "Gōng sī gài kuàng běi jīng yín háng gǔ fèn yǒu xiàn gōng sī 601169" 公司概况 北京银行股份有限公司601169 [Company overview Bank of Beijing Co., Ltd. 601169] (in Chinese (China)). Shanghai Stock Exchange. Retrieved 30 April 2018. 上市日(A股/B股)　2007-09-19/-
  5. ^ "SSE 50 - Index Constituents List". Shanghai Stock Exchange. 27 April 2018. Archived from the original on 15 December 2018. Retrieved 30 April 2018.
  6. ^ "FTSE China A50 Index Factsheet". FTSE Group. 28 April 2018. Archived from the original on 30 April 2018. Retrieved 30 April 2018.
  7. ^ a b c 北京银行股份有限公司章程 [Articles of Association of Bank of Beijing] (Microsoft Word) (in Chinese (China)). Bank of Beijing. 2009. Retrieved 7 May 2018.
  8. ^ a b 周立文; 王葆纯 (7 June 1998). "Běi jīng chéng shì hé zuò yín xíng gēng míng wèi běi jīng shì shān gyè yín xíng" 北京城市合作银行更名为北京市商业银行 [Beijing city cooperative bank was renamed to Beijing city commercial bank]. Guangming Daily (in Chinese (China)). Archived from the original on 27 August 2004.
  9. ^ 李彦春 (17 February 2017). 闫冰竹：金融报国二十春. 北京青年报 (in Chinese (China)). Archived from the original on 30 April 2018. Retrieved 30 April 2018 – via china.com.cn.
  10. ^ 原北京城市合作银行中关村支行高管违规放贷7.46亿获刑14年. 京华时报 (in Chinese (China)). 11 January 2012. Retrieved 30 April 2018 – via People's Daily web portal.
  11. ^ 大玩空手道插足银行大案 香港富商被判无期. 北京晚报 (in Chinese (China)). 14 June 2006. Retrieved 30 April 2018 – via Sina news portal.
  12. ^ 中国银行业监督管理委员会办公厅关于北京市商业银行更名的批复 (Press release) (in Chinese (China)). Beijing: China Banking Regulatory Commission. 13 September 2004. Archived from the original on 30 April 2018. Retrieved 30 April 2018.
  13. ^ 北京市商业银行更名为北京银行的公告 (Press release) (in Chinese (China)). Bank of Beijing. 7 January 2005. Retrieved 30 April 2018 – via chinabond.com.cn.
  14. ^ "ING Is Buying 19.9% Of Bank of Beijing". The Wall Street Journal. 25 March 2005. Retrieved 30 April 2018.
  15. ^ "Massive demand for Bank of Beijing IPO". The Star. Reuters. 14 September 2007. Retrieved 30 April 2018.
  16. ^ "Bank of Beijing to buy 50% stake of ING Capital Life Insurance". China Daily. State Council Information Office. Xinhua News Agency. 5 February 2010. Retrieved 30 April 2018.
  17. ^ 中荷人寿再易主 原始股东全部离场. 北京商报 (in Chinese (China)). 23 September 2014. Retrieved 30 April 2018 – via Sina news portal.
  18. ^ "ING completes participation in Bank of Beijing share offering" (Press release). Amsterdam: ING Group. 29 December 2017.
  19. ^ a b "2016 nián nián dù bào gào" 2016年年度报告 (PDF) (in Chinese (China)). Bank of Beijing. 26 April 2017. Retrieved 30 April 2018 – via Shanghai Stock Exchange website.
  20. ^ 李微敖 (16 January 2013). 北京银行监事长更迭涉违规 独立董事：国资委任命不当. 财经网 (in Chinese (China)). Retrieved 30 April 2018 – via ifeng.com.
  21. ^ 林邑 (24 January 2013). 政府说了算VS按市场规则办北京银行监事长更迭风波. Southern Weekly (in Chinese (China)). Nanfang Media Group. Retrieved 30 April 2018.
  22. ^ "Bank of Beijing director Lu Haijun under investigation in graft probe". South China Morning Post. Hong Kong. 3 February 2015. Retrieved 30 April 2018.
  23. ^ "2014 nián nián dù bào gào" 2014年年度报告 (PDF) (in Chinese (China)). Bank of Beijing. 27 April 2015. Retrieved 30 April 2018 – via Shanghai Stock Exchange website.
  24. ^ "2013 nián nián dù bào gào" 2013年年度报告 (PDF) (in Chinese (China)). Bank of Beijing. 28 April 2014. Retrieved 30 April 2018 – via Shanghai Stock Exchange website.
  25. ^ 京能原董事长陆海军获刑11年. 北京晚报 (in Chinese (China)). 14 January 2016. Archived from the original on May 1, 2018. Retrieved 30 April 2018 – via XinhuaNet web portal.
  26. ^ www.lccb.com.cn
  27. ^ www.naby.com.cn
  28. ^ www.lzbob.com
  29. ^ "Joint Announcement" (PDF) (Press release). JLF Investment; Macro-Link International Land. 4 May 2015. Retrieved 30 April 2018 – via Hong Kong Exchanges and Clearing website.
  30. ^ 大道商诚 (3 August 2017). 2017全球银行1000强榜单：126家中资银行上榜！ (blog) (in Chinese (China)). Retrieved 30 April 2018 – via sohu.com.
  31. ^ 2010年英国《银行家》杂志全球前1000家银行排名揭晓. Financial Times (Chinese edition) (in Chinese (China)). 30 June 2010. Retrieved 30 April 2018.
  32. ^ 20年总资产增长100倍 北京银行跃居全球千家大银行第77位. 每日经济新闻 (in Chinese (China)). 26 July 2016. Retrieved 30 April 2018 – via Sina news portal.
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