Hua Xia Bank, set up in 1992, is ranked #1636 in Forbes Global 2000 list of companies. This state owned bank is ranked 336 in the Bankers' 2007 list of top 1000 banks. Hua Xia Bank is also among top 10 financial and real estate companies of China.
This Chinese bank is committed to deliver high quality service to its individual and institutional clients. With far fetched reforms in marketing, credit services, risk management and human resource mobilization, Hua Xia Bank has adapted well to global banking standards. Several proactive processes have been implemented in technology applications, IT system management and research and development sphere.
Hua Xia Bank established in 1992 as a state owned organization made an initial public offering in 2003 to become a joint stock commercial bank. As of March 31, 2008 this bank had 294 outlets spread over 31 cities. In addition, it has established relationships with 464 international companies for offering international banking operations to its customers. Presently this bank employs over 9500 employees. Hua Xia Bank of China is listed with Shanghai Stock Exchange.
Products and services
As a commercial banking establishment, Hua Xia Bank offers services to both corporate and individual clients.
Personal services – Personal services offered by this bank include savings deposits, term deposits, current deposits and education deposits. Guarantees or consumer performance bonds are issued to individuals to promote trade and enhance credit. These guarantees can be used as instruments of exchange in trading or investing. Housing loans and vehicle loans are other products offered to individual clients. Individuals can also deal in foreign exchanges in form of deposits or remittances. Personal services also extend to operation of credit cards, wealth management, and internet banking.
Corporate services – Corporate services of Hua Xia Bank are in form of cash credit, bill discounting, letter of credit, current deposits, agency functions, asset management, and foreign exchange transactions. Loans offered to corporate clients take a form of credit loan, pledged loan, syndicate loan, and guaranteed loan. These depository products include current deposits, foreign currency deposit, time deposits and agreement deposits. Hua Xia Bank performs agency services for its corporate clients.
Assets for Hua Xia as of March 2008 were worth US $29.25 billion, and net sales amounted to US $ 1 billion. Profit earned around same time was nearly US $0.08 billion.
Awards and recognition
In 2005, Hua Xia Bank was awarded title of China's 'Most Influential Fortune Company’. China Association of SME, Financial Times and China Banking Association honored Hua Xia Bank with ‘Best SME Financing Plan’ for their SME growth product service plan. Clearing center of this bank was awarded ‘Citicorp USD Clearing STP Excellence' award.