China Minsheng Bank
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China Minsheng Banking Corp Ltd (CMBC) is a bank headquartered in Beijing, People’s Republic of China. It provides personal and corporate banking facilities to its clients. E-banking facility is available. China Minsheng Bank is ranked number 663 on 2008 Forbes Global 2000 list.
China Minsheng Bank is owned and operated by non-government enterprises. It conducts banking operations through more than 700 branches in China and overseas. China Minsheng Bank is listed on Shanghai (SSE: 600016) Stock Exchange.
Brief history
China Minsheng Banking Corp Ltd (CMBC) is a bank headquartered in Beijing, People’s Republic of China. It provides personal and corporate banking facilities to its clients. E-banking facility is available. China Minsheng Bank is ranked number 663 on 2008 Forbes Global 2000 list.
China Minsheng Bank is owned and operated by non-government enterprises. It conducts banking operations through more than 700 branches in China and overseas. China Minsheng Bank is listed on Shanghai (SSE: 600016) Stock Exchange.
Brief history
China Minsheng Bank was officially founded on 12th January, 1996. It pioneered in being first among national joint-stock commercial Chinese bank primarily under control of non-public owned enterprises. China Minsheng Bank was established in accordance with mainland China commercial bank laws and company laws. Presence of a diversity of investors has endowed this bank with a rare dynamic commercial sense.
China Minsheng Bank was listed in Shanghai Stock Exchange on December 19, 2000. CMBC offered sub-ordinated bonds of value RMB 5.8 billion through inter-bank market in 2003. Share trading reforms were carried out in 2005.
Products and services
China Minsheng Bank caters to both personal and corporate clients. Personal banking services include loans, savings, debit cards and credit cards. Financial planning and international personal financing are also offered. Special value added services like VIP are available.
List of corporate services offered by China Minsheng Bank include trading accounts, deposits, business financing, settlement, financial leasing, asset management, and intermediation. Clients of e-banking may conduct standard banking services like personal online banking, corporate online banking, telephone banking and mobile banking. Self service banking facility is available.
Financials
China Minsheng Bank had total assets amounting to almost RMB 1,062.2 billion in 2008. Net profit was RMB 6,046 billion. Total deposits accrued by this bank was around RMB 760.404 billion. Non-performing loan ratio was nearly 1.21 percent. Total loans amounted to about RMB 612.051 billion.
Awards and recognition
China Minsheng Bank was ranked #18 in selection of ‘China’s Most Dynamic Enterprises’ in 2004. It was ranked number 22 in ‘Top 500 Chinese Enterprises in IT Competitiveness’ in 2005.
Current financial crisis
China Minsheng Bank suffered a serious credit risk in 2008 financial crisis. It was forced to sell US $1.5 billion of bonds to make up for its minimum capital adequacy ratio.
