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37.The Spirit of innovation has prompted China Bohai Bank to showcase its strong potentials
http://www.tj-summerdavos.cn    2008-09-19 11:53

The Tianjin and Taiyuan branches of ChinaBohai Bank were open one after another in thefirst half of 2008 and the Chengdu branch gotnods to be set up. So far Bohai Bank has madesignificant progress in domestic outlet arrangementwith the operation of five branchesand 13 sub-branches. Its development is reallyamazing. Fuelled by the spirit of innovation,the bank will demonstrate greater strength infuture growth.

Bohai Bank has been the only national shareholdingjoint venture commercial bank approvedby the State Council since 1996. It hasalso been the first lender that has broughtin overseas strategic investors from the verybeginning and the first national share-holdingcommercial bank with headquarters in Tianjin.

The bank was founded on December 30, 2005and started its business on February 16, 2006.It was established at a time that the developmentof Tianjin Binhai New District wasincluded as a part of national overall strategicdevelopment plan, which foretold that thatbank could have a good development environmentand a brighter future.

It has been a development philosophy of BohaiBank to take bold reform and experiments andhighlight innovation. Since its establishment,the bank has taken the advantage of a historicalopportunity of building the Binhai New Districtinto a “national pilot zone for comprehensivereform and experimental development” tolaunch a series of financial innovations, includingthe stock equity, corporate governance,operational mode, business and products andfinancial services. The efforts have paved a wayfor its fast and stable growth.

The shareholders of Bohai Bank include Stateownedor State-controlled enterprises, privatecompanies, domestic companies and overseestrategic investors. It has been the first of its kindin Chinese mainland that the bank introduced inoverseas strategic investors from the very beginningand allowed the capital inflow of naturalpersons in a way of assembled funds trust.

In April 2007, Bohai Bank set up its investmentbank department, which has been animportant step of the bank to explore theway of comprehensive operation. Relying onthe investment bank arm, Bohai Bank is busyexploring the possibility to conduct comprehensivebusiness, with the identification of fullfunctionalbank.

In September 2007, the Beijing branch of BohaiBank started operation, which was the firstbranch outside Tianjin. Given Beijing’s excellentand large-scale financial markets and a favorablelocation in the core area of Bohai Rimeconomic circle, the establishment of Beijingbranch allowed the bank to better serve theregional economy and promote the financialreform and innovation.

Based on the practices, the bank provides tailor-made products and personalized servicesto the clients. In terms of retail banking, it hasdeveloped new products for housing mortgageto cope with the rising demands for personalinvestment in real estate. It also developed differenttypes of corporate loans for SMEs.Dated to June 30, 2008, the assets of BohaiBank amounted for RMB 46.25 billion yuan.The deposit balance reached RMB 35.49 billionyuan and the loan balance, including billfinancing, totaled RMB 27.34 billion yuan. Theyincreased by 108 percent, 144 percent and 77percent, respectively, year-on-year.

The growth and expansion of Bohai Bank willserve as an impetus to the reform and developmentof Binhai New District and the economicdevelopment of circum-Bohai Sea economicrim. Although it is still in the early stage, thebank has demonstrated its considerablegrowth rate. The innovation will further pushforward the bank, which has gradually gainedinternational competitive edge to be a modernshare-holding commercial bank with its owncharacteristics.


From:Enorth.com.cn    Editor: Zhao Jing
 
Preparatory & Coordination Committee of Annual Meeting of the New Champions 2008