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Industrial Bank (China)

Industrial Bank (China)

Industrial Bank is a Fuzhou-based company founded in 1988.

The Industrial Bank Co., Ltd. (simplified Chinese: 兴业银行; traditional Chinese: 興業銀行; pinyin: Xīngyè Yínháng) is a commercial bank based in Fuzhou, Fujian province of the People's Republic of China.

History

On 26 Aug. 1988, The State Council of China and the People's Bank of China approved the establishment of this bank. Its official name is Fujian Industrial Bank Joint-Stock Corporation, Limited, or abbreviated to Industrial Bank (China).

On 3 March 2003, it was renamed "Industrial Bank Co., Ltd.". It announced the completion of the shareholding system transformation. It is one of the first joint-stock commercial banks approved by the State Council and the People's Bank of China.

On 5 February 2007, the Industrial Bank was listed on the Shanghai Stock Exchange (Stock Code: 601166) with capital of RMB 10.786 billion.

In March 2012, the Industrial Bank's total assets reached RMB 2,629,398 million, shareholders' equity amounted to RMB 123,957 million, net profit for the first quarter was RMB 8,288 million, and NPL ratio was 0.40%. According to the "Top 1000 World Banks" released by the British Magazine The Banker in 2011, the Industrial Bank ranked 75th in total assets and 83rd in tier 1 capital. The Industrial Bank opened 79 branches and 662 sub-branches.

The Industrial Bank has a fully owned subsidiary, Industrial Financial Leasing Co., Ltd., and a controlling stake in Union Trust Co., Ltd. Headquarters-level operating units such as Financial Markets Center, Credit Card Center, Retail Banking Headquarters, Private Banking Department, Assets Custody Department, Bank Services Center, VIC (Very Important Clients) Department, Investment Banking Department, Futures Finance Department, Funds Finance Department, Trade Finance Center and Sustainable Finance Center operate in Shanghai and Beijing.

Business Activities

The main business activities of the Industrial Bank are:

Personal Banking

  • Taking deposits.
  • Lending.
  • Local and international payments and settlements.
  • Safety deposit box service.
  • Credit cards.

Corporate Banking

  • Bills acceptance and discounting.
  • Issuing of financial bonds.
  • Provision of letters of credit and guarantee facilities.
  • Insurance sales.
  • Collections of payments.
  • Bank card business.

Institutional Banking

  • Agency issuing, cashing and underwriting of government bonds.
  • Purchase and sales of government bonds and financial bonds.
  • Inter-bank placements and borrowings services.
  • Agency service in trading of foreign currencies.
  • Settlements and sales of foreign currencies.

Timeline

Products

Patents

Further Resources

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