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China Merchants Bank has approximately 500 branches in mainland China. It also maintains a branch in Special Administrative Region of Hong Kong. China Merchants Bank is listed in Hong Kong (SEHK: 3968) and Shanghai (SSE: 600036) stock exchanges.
Brief history
China Merchants Bank was established on April 8, 1987. It is first Chinese share-holding commercial bank totally owned and controlled by corporate legal entities. China Merchants Bank underwent substantial capital investment three times after its foundation date. A IPO was launched and 1.5 million shares issued in Shanghai Stock Exchange on April 9, 2002. China Merchants Bank subjects itself to external auditing in accordance with international accounting standards.
Products and services
China Merchants Bank serves personal business and corporate business services to its clients. Services like fund prices, gold prices, loan rates and forex rates are provided by bank. On-line payment and mobile digital certificate services are available in addition to credit cards. Corporate services include investment and settlement businesses. International settlement and trade financing form also part of corporate business service.
China Merchants Bank offers its clients 'Triple A' financial services that includes E-banking distribution channels like mobile banking, on-line banking and phone banking. Self service banking is possible. Tailor made banking services are available.
Financials
Net profit of China Merchants Bank was CNY 59.94 billion in financial period ending September 30, 2008. Market capitalization was around CNY 184,474 million. It currently has about 28,971 employees.
Awards and recognition
China Merchants Bank was rated among top global 200 banks by British financial journal The Banker. It has also won a number of awards like 'Top 10 Public Companies in China' and 'Best Domestic Commercial Bank in China'. Its e-commerce product 'All in one net' was granted 'Nomination Award' by International Computer World Honors Program.
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