Industrial Bank Co.

Industrial Bank Co., Ltd. SSE: 601166 (simplified Chinese: 兴业银行; traditional Chinese: 興業銀行; pinyin: Xīngyè Yínháng) is a bank based in Fuzhou, Fujian, China.

History

From the day of its establishment on 26 August 1988 to its first name change in June 2001, the bank was called Fujian Industrial Bank (Chinese: 福建兴业银行). From June 2001 to 3 March 2003, it was formerly known as Fujian Industrial Bank Joint-Stock Corporation, Limited (福建兴业银行股份有限公司), or abbreviated to Industrial Bank (China).^[1]

The bank is one of China 's joint-stock commercial banks. According to The Banker, the bank was ranked No. 210 among the top 1,000 banks worldwide 2005 in terms of total assets.

It should not be confused with the Industrial Bank of China, a defunct bank in the 1910s or the National Industrial Bank of China, which merged with the Bank of China in the 1950s nor with the Industrial and Commercial Bank of China (ICBC).

Main Business

The main business activities of the bank are:

Personal Banking

• deposits taking
• provision of loans
• local and international payments and settlements
• safe-box service
• credit cards

Corporate Banking

• bills acceptance and discounting
• issuing of financial bonds
• provision of letters of credit and guarantee facilities;
• agency collections and payments; agency sales of insurance
• bank card business

Institutional Banking

• agency issuing, cashing and underwriting of government bonds
• purchase and sales of government bonds and financial bonds
• inter-bank placements and borrowings services
• agency service in trading of foreign currencies
• settlements and sales of foreign currencies

Ownership Structure

As of 5 February 2007, the top ten shareholders in the bank were:^[2]

References

External links

• http://www.cib.com.cn/ Official homepage