Bank of Beijing

By: EconomyWatch   Date: 17 July 2010

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Bank of Beijing established in 1996 is ranked 982 in Forbes Global 2000. With a net asset of US $34.82 billion and net sales of US $1.24 billion it earned a net profit of US $0.27 billion as in March 2008. Government of city of Beijing and ING of Netherlands are primary shareholders of this bank.
This commercial bank in China carry out all normal banking activities like deposit mobilization of both individuals and corporations, extension of loans, foreign exchange remittance, issuance of letter of credit, and bill discounting. Bank of Beijing also buys and sells government bonds.

Brief history
Bank of Beijing was established in 1996 as Beijing City Commercial Bank and subsequently renamed in 2005. With its head quarters in Beijing, Bank of Beijing operates 128 branches in this capital city of China. Shanghai, Tianjin, Chaoyang, Chongwen, Dongcheng, Fengtai, Haidian, Shijingshan, Xicheng, Xuanwu, and Yujiaoqu are other major locations from which Bank of Beijing operates.

Products and services
Services of Bank of Beijing are categorized into:

Personal banking – Personal banking services offered by this bank extends to depository services, loan disbursement, wealth management, and Internet banking. Savings deposit, personal housing loan, property insurance, and personal credit are few products in personal banking.

Corporate banking – Companies and organizations of all classifications can avail of Bank of Beijing’s corporate banking products and services. Credit financing, bill discounting, asset management, supply chain financing, and financial consultancy are some of these services. In addition to general services, Bank of Beijing also offers exclusive services like ‘your wealth + my wealth’, ‘sincerity + expertise’ to its corporate clients.

Foreign exchange and settlement – Foreign exchange deposit and remittance, foreign currency exchange, foreign exchange trading on behalf of its clients and for this bank itself, and trading of foreign currency securities are few services in this category.

Financials
Till March 2008, net assets of Bank of Beijing were worth US $34.82 billion and net sales amounted to US $1.24 billion. Net profit in that same time was US $0.27 billion.

Awards and recognition
During its course of operation Bank of Beijing has won a number of awards. In July, 2008, Trust and Wealth Management Institution of Southwestern University of Finance and Economics, and Financial Times ranked Bank of Beijing #2 in comprehensive wealth management. ‘The Economic Observer’ recognized this bank as best Chinese city commercial bank in 2007.



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