China Merchants Bank (CMB), China Merchants Bank is a Chinese financial company based in Shenzhen . This bank was founded in 1987 and became the first commercial bank in China, established without the direct participation of state capital. It ranks 32nd among the largest banks in the world in terms of assets [4] [5] .
| China Merchants Bank Company Limited | |
|---|---|
| 招商 银行 股份有限公司 | |
 | |
| Type of | Public company |
| Listing on the exchange | SEHK : 3968 Template: Ssee |
| Base | 1987 |
| Founders | Yuan Geng |
| Location |  China : Shenzhen |
| Key figures | Li Jianhong (Chairman of the Board) Tian Huiyu (President and CEO ) [1] |
| Industry | banking ( ISIC :6419 ) |
| Equity | ▲ RMB 543.61 billion $ 79.01 billion (2018) [2] |
| Turnover | ▲ RMB 248.44 billion $ 36.11 billion (2018) [2] |
| Operating profit | ▲ RMB106.5 billion $ 15.5 billion (2018) [2] |
| Net profit | ▲ RMB80.56 billion $ 11.7 billion (2018) [2] |
| Assets | ▲ RMB6.746 trillion $ 980 billion (2018) [2] |
| Capitalization | RMB643 billion $ 94.6 billion (06/01/2019) [3] |
| Number of employees | 74 590 (2018) [2] |
| Auditor | Deloitte Touche Tohmatsu |
| Site | |
The largest shareholder of China Merchants Bank is China Merchants Group (29.97%).
Content
History
The China Merchants Bureau was founded in Shanghai in 1872 as an alternative to Western shipping companies that dominated China’s trade with other countries. By the end of the 1940s, the company had 490 vessels (of which 95 were ocean-going), China Merchants also had interests in banking, insurance, railway and air transport, coal mining, steel casting and other industries. After the Chinese revolution , although most of the ships were relocated to Taiwan, the company's management decided to stay in Hong Kong (where the headquarters of China Merchants moved over time) and to cooperate with the communist regime. The company became the main intermediary between China and the rest of the world, and in 1979 it was entrusted with the creation and development of the Shekou Special Economic Zone in Shenzhen . China Merchants Group in the 1980s created dozens of subsidiaries in various sectors of the economy, including the bank and the insurance company Ping An Insurance [6] .
China Merchants Bank was registered on April 8, 1987 in Shenzhen. In 2002, bank shares were placed on the Shanghai Stock Exchange , and in 2006 on the Hong Kong Stock Exchange [7] . In November 2007, a branch was opened in New York . In 2008, the Hong Kong bank Wing Lung Bank (founded in 1933) was bought [8] .
Activity
CMB has more than 1,800 branches and 10,000 ATMs in mainland China, as well as branches in Hong Kong, New York, Singapore , Luxembourg , London and Sydney .
CMB consists of the following divisions:
- Consumer banking, including personal deposits, loans, asset management, currency exchange, gold trading and bank card services.
- Corporate and investment banking, including corporate deposits, corporate loans, international payments, trade finance, asset custody, mergers and acquisitions advice, foreign exchange transactions, securities transactions.
In the structure of assets, more than half accounted for loans issued, at the end of 2018, 3.9 trillion of 6.7 trillion yuan, 1.7 trillion accounted for investments in securities. Of the liabilities of 4.4 trillion yuan are accepted deposits [2] .
About two-thirds of revenue gives net interest income, in 2018 160 billion yuan (interest income 271 billion, consumption - 111 billion. At the end of 2018, the bank issued 84 million credit cards with a total balance of 575 billion yuan and transaction volume of 3.8 trillion The bank is among the top five largest asset management companies in the PRC, the size of assets under management is more than 2 trillion yuan [2] .
Main subsidiaries:
- CMB Wing Lung Group (Hong Kong bank with assets of HK $ 314 billion)
- CMB Financial Leasing (leasing company, founded in 2008)
- CMB International Capital (founded in 1993 in Hong Kong, financial services)
- China Merchants Fund (fund management company, founded in 2002, bank share 55%)
- CIGNA & CMB Life Insurance (insurance company, founded in 2003, bank share 50%)
| Year | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 8,154 | 11.17 | 15.68 | 19.21 | 24.87 | 41.09 | 55.66 | 51.92 | 71.76 | 96.67 | 113.8 | 133.1 | 166.5 | 202.3 | 210.3 | 221.0 | 248.4 |
| Net profit | 1,847 | 2,211 | 3.276 | 3,749 | 6,794 | 15.24 | 21.08 | 18.24 | 25.77 | 36.13 | 45.27 | 51.74 | 55.91 | 57.70 | 62.08 | 70.15 | 80.56 |
| Assets | 366.2 | 494.0 | 586.7 | 734.6 | 934.1 | 1311 | 1572 | 2068 | 2403 | 2795 | 3408 | 4016 | 4732 | 5475 | 5942 | 6298 | 6746 |
| Equity | 16.83 | 18.35 | 21.96 | 26.00 | 55,16 | 67.98 | 79.78 | 92.78 | 134.0 | 165.0 | 200.4 | 266.0 | 315.1 | 361.8 | 403.4 | 483.4 | 543.6 |
Notes
- Mer China Merchants Bank Co Ltd (600036.SS) - Company Officers (eng.) . Reuters. The appeal date is June 1, 2019.
- 2 1 2 3 4 5 6 7 8 9 Annual Report 2018 (eng.) . China Merchants Bank Company Limited (March 22, 2019). The appeal date is June 1, 2019.
- Mer China Merchants Bank Co Ltd (600036.SS) - Quote (English) . Reuters. The appeal date is June 1, 2019.
- ↑ Top 100 Banks in the World (English) . Relbanks.com. The appeal date is December 23, 2018.
- ↑ China Merchants Bank (English) . Relbanks.com. The appeal date is June 1, 2019.
- ↑ China Merchants International Holdings Co., Ltd. Historyy (English) . International Directory of Company Histories, Vol. 52. St. James Press, 2003. Appeal date June 1, 2019.
- ↑ China Merchants Bank (English) . Relbanks.com. The appeal date is June 1, 2019.
- ↑ Company History (English) . CMB Wing Lung Bank Ltd .. The appeal date is June 1, 2019.
- ↑ Annual Report 2006 (Eng.) . China Merchants Bank Company Limited. The appeal date is June 1, 2019.
- ↑ Annual Report 2008 (Eng.) . China Merchants Bank Company Limited. The appeal date is June 1, 2019.
- ↑ Annual Report 2013 (English) . China Merchants Bank Company Limited. The appeal date is June 1, 2019.
Links
See also
- List of the largest companies in China according to Forbes (2019)