China CITIC Bank International Limited (中信 銀行 國際) is one of the largest licensed banks in Hong Kong (one of the ten largest financial institutions in the city in terms of assets), 75% owned by Beijing state group CITIC International Financial Holdings . The main areas of activity are wholesale trade services, international and retail banking, treasury services, insurance. As of 2016, the bank's income amounted to $ 527 million, assets - $ 39.16 billion [2] [3] [4] [5] [6] [7] .
China CITIC Bank International Limited | |
---|---|
Bank branch | |
Type of | Affiliated company |
Base | 1998 |
Former names | CITIC Ka Wah Bank |
Location | Hong Kong |
Key figures | Sun Deshun (Chairman of the Board) Bi Mingqiang ( CEO ) |
Industry | banking ( ISIC :6419 ) |
Equity | ▼ HK $ 35.9 billion $ 4.6 billion (2018) [1] |
Turnover | ▲ HK $ 8.41 billion $ 1.08 billion (2018) [1] |
Net profit | ▲ HK $ 3.008 billion $ 386 million (2018) [1] |
Assets | ▲ HK $ 362.945 billion $ 46.5 billion (2018) [1] |
Parent company | CITIC International Financial Holdings |
Auditor | PricewaterhouseCoopers |
Site | cncbinternational.com/ho… |
The headquarters of the bank is located in the Hong Kong Chinese Bank Building ( Central District), and some offices are located in the CITIC Tower ( Admiralty District). CITIC Bank International has 30 branches in Hong Kong, as well as branches in Macau , Singapore , Los Angeles and New York [8] [9] [10] [11] . A subsidiary of CITIC Bank International (China) has branches in Shenzhen , Shanghai and Beijing [12] .
Content
History
In 1922, Dr. Lam Ji Fung founded the financial company Ka Wah Ngan Ho (嘉華 銀 號) in Canton , the name of which was formed from the names of two other companies - Ka Nam Tong and Nam Wah Company. Ka Wah Savings Bank Limited (嘉華 儲蓄 銀行 有限公司) was founded in Hong Kong in 1924, and Ka Wah Ngan Ho became its Cantonese branch [13] .
In 1926, Ka Wah Savings Bank Limited was renamed Ka Wah Bank Public Limited Company (嘉華 銀行 公眾 有限公司). In 1931, the share capital of the bank was increased to 1 million Hong Kong dollars; in 1931, a bank branch was opened in Shanghai , but in 1935, due to economic instability in mainland China, the Ka Wah Bank was forced to close its branches in Guangzhou and Shanghai. In December 1941, the Japanese army occupied British Hong Kong , and the occupation authorities nationalized the property of all local commercial banks. In 1945, after the liberation of Hong Kong from the Japanese, the bank resumed its financial activities, and in 1949 it was renamed Ka Wah Bank Limited. In 1964, the headquarters of the bank moved to its own building in the Seongwan area [13] .
In 1974–1975, Singaporean businessman Lou Chun Song bought out shares of American investors and became the largest shareholder of Ka Wah Bank. In 1980, the bank entered the Hong Kong stock exchange , its underwriter was Chase Manhattan Asia . In the same 1980, the headquarters of the bank moved to a new building, next to the old office in the Xionwany district. In the mid-1980s, Ka Wah Bank had 26 offices in Hong Kong, offices in New York and Los Angeles, and offices in Toronto and Xiamen [13] [13] .
In 1986, Ka Wah Bank fell into a difficult financial situation, and the Chinese CITIC Group invested HK $ 350 million in its capital. In 1998, Ka Wah Bank was renamed to CITIC Ka Wah Bank Limited, and in 2002 it became a wholly-owned subsidiary of CITIC International Financial Holdings. In the same year 2002, CITIC Ka Wah Bank acquired HK $ Hongkong Chinese Bank, founded in 1954 for 4.2 billion HK $ (shares of the bank were sold by Lippo Group and China Resources ) [14] [15] [13] .
In 2003, CITIC Ka Wah Bank bought China International Finance Company Limited (Shenzhen) to expand its business in mainland China. In 2004, the bank opened a branch in Shanghai, in 2005 - in Macau , in 2006 - in Beijing . In 2007, the Spanish banking group Banco Bilbao Vizcaya Argentaria acquired a 15% stake in CITIC International Financial Holdings. In 2008, China International Finance Company was transformed into CITIC Ka Wah Bank (China) Limited, and CITIC International Financial Holdings became a private company and was no longer listed on the Hong Kong Stock Exchange. In 2010, CITIC Ka Wah Bank changed its name to CITIC Bank International Limited [13] .
Also in 2010, the bank opened a branch in Singapore , in 2011, started a retail business for its customers in Hong Kong and mainland China, in 2012, changed its logo . In 2015, Beijing China CITIC Bank bought out almost a 30% stake in Banco Bilbao Vizcaya Argentaria from CITIC International Financial Holdings, which controls Hong Kong CITIC Bank International. In 2017, five new investors concentrated in their hands a 25% stake in CITIC Bank International [13] .
In 2017, CITIC Bank International was involved in financing the purchase of the Swiss company Syngenta by the Chinese group ChemChina [16] . In Hong Kong, CITIC Bank International finances a number of charitable and educational projects [17] .
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |
---|---|---|---|---|---|---|---|---|---|---|
Revenue | 3.194 | 3,006 | 3,419 | 3,716 | 4,747 | 6,006 | 5,831 | 6,413 | 7,873 | 8,410 |
Net profit | 0.953 | 1,057 | 1,410 | 1.557 | 2,135 | 2,801 | 2,168 | 2.548 | 2,808 | 3,008 |
Assets | 120.1 | 148.2 | 171.4 | 177.2 | 216.3 | 249.1 | 282.5 | 306.4 | 344.3 | 362.9 |
Equity | 12.23 | 13.35 | 13.11 | 15.05 | 17.18 | 19.94 | 21.74 | 25.78 | 37.38 | 35.90 |
David Lam
David Lam was born in Hong Kong in 1923 into the family of coal magnate Lam Chi Fun. After studying in the United States, David Lam returned to Hong Kong and began working in the family Ka Wah Bank. In 1967, together with his family, Lam emigrated to Vancouver , where he became the largest real estate entrepreneur. Thanks to his charity work, Lam served as chairman of the Hong Kong Baptist College , in 1988–1995 he was Lieutenant Governor of British Columbia . For his services he was awarded the Order of St. John , the Order of Canada , the Royal Victorian Order and the Order of British Columbia. He died in 2010 [19] [20] [21] [22] [23] [24] [25] [26] .
Notes
- ↑ 1 2 3 4 5 Annual Report 2018 (English) . China CITIC Bank International Limited (25 March 2019). The appeal date is June 12, 2019.
- ↑ Top Banks in Hong Kong (English) . Corporate Finance Institute.
- ↑ Hong Kong's 20 largest licensed banks 2013 (English) . Hongkong Business.
- ↑ China CITIC Bank International Limited (English) . Bloomberg.
- ↑ Citic Bank International to Rivals pull back (English) . The Financial Times.
- ↑ Wu Xiaoqiu. Chinese Securities Companies, Financial Structure Transformation, and Future Development. - John Wiley & Sons, 2014. - P. 165. - ISBN 9781118991503 .
- ↑ Hung-Gay Fung, Glenn Chi-Wo Ko, Jot Yau. Dim Sum Bonds: The Offshore Renminbi (RMB) -Denominated Bonds. - John Wiley & Sons, 2014. - P. 56. - ISBN 9781118434796 .
- ↑ Branches . China CITIC Bank International.
- ↑ Banking in Singapore (English) . China CITIC Bank International.
- ↑ Banking in Macau . China CITIC Bank International.
- ↑ Banking in the US (English) . China CITIC Bank International.
- ↑ Banking in China (English) . China CITIC Bank International.
- ↑ 1 2 3 4 5 6 7 Our Heritage (English) . China CITIC Bank International.
- ↑ Chinese Unit Buys Hong Kong Bank Stake (Eng.) . The New York Times.
- ↑ CITIC Ka Wah Bank acquires Hongkong Chinese Bank (Eng.) . Asia Times Online.
- ↑ CITIC Bank International looks to $ 2.8 billion loan portfolio: Basis Point (Eng.) . Reuters.
- China ic China China Cit Cit Cit China China China China China China China China China China China China China China China South China Morning Post.
- ↑ Annual Report 2013 (English) . China CITIC Bank International Limited. The appeal date is June 12, 2019.
- ↑ David Lam obituary (English) . Vancouver Sun.
- ↑ Lam, Canada's first ethnic Chinese LG dies, age 87 (Eng.) . The Globe and Mail.
- ↑ David See-Chai Lam (English) . Canadian Christian Leaders.
- ↑ Tribute to Dr. David See-Chai Lam (Eng.) . Asia Pacific Foundation of Canada.
- ↑ Reginald Roy. David Lam: A Biography. - Vancouver: Douglas & McIntyre, 1997. - p. 30, 36–39, 71. - ISBN 9781553656852 .
- ↑ The Honorable David See-Chai Lam (English) . University of British Columbia Library.
- ↑ Former BC lieutenant-governor David Lam dies (Eng.) . CBC / Radio-Canada.
- ↑ Canadian Heraldic Authority (Volume I), Ottawa, 1999