China Zheshang Bank

China Zheshang Bank, abbreviated as CZB, is a national joint-stock commercial bank based in the People's Republic of China and regulated by the People's Bank of China.[1]

China Zheshang Bank
Native name
浙商银行股份有限公司
Joint stock commercial bank
Traded asSEHK: 2016
ISINCNE1000025S9 
IndustryBanking and Finance
PredecessorZhejiang Commercial Bank
Founded26 July 2004 (2004-07-26)
Headquarters
Hangzhou, Zhejiang Province, China
Key people
Shen Renkang
Chairman
Liu Xiaochun
President and Director
ProductsFinance and insurance
Consumer Banking
Corporate Banking
Investment Banking
Mortgages
Credit Cards
Websitewww.czbank.com

Overview

China Zheshang Bank has its headquarters in Hangzhou, China and serves customers through a network of 109 branches across the major cities in the country.[2] In 2014, the bank ranked 208 in the "Global Banking 1000" list by the UK based Banker magazine.[3]

History
China Zheshang Bank in Shenzhen

China Zheshang Bank trances its roots from Zhejiang Commercial Bank that was formed in 1993 in Ningbo, Zhejiang Province of China. The Zhejiang Commercial Bank was a Sino-foreign bank jointly owned by Bank of China, Hong Kong Nanyang Commercial Bank, Bank of Communications, and the Zhejiang International Trust and Investment Co.[4]

On June 30, 2004, the China Banking Regulatory Commission approved the restructuring, renaming and relocation of Zhejiang Commercial Bank and on August 18, 2004, China Zheshang Bank was officially opened as a new bank in Hangzhou.[1]

Once launched, the bank structured its overall business strategy in two five-year phases:[5]

  • Phases 1 - 2004 to 2008 - The main focus was the Zhejiang province market.
  • Phases 2 - 2009 to 2013 - To focus on the developed regions of China.

As of December 2014, China Zheshang Bank a registered capital base of CN¥ 11.5 billion, total assets of CN¥ 6,700 billion, CN¥ 360 billion in customer deposits and CN¥ 260 billion in issued loans.[1][6]

In September 2015, CZB announced plans to raise around US$1 billion through an IPO and listing on the Hong Kong Stock Exchange.[7] The listing details were yet to be announced as at the end of October 2015.

Ownership

China Zheshang Bank is a privately held company. As of December 2014, shareholding in the bank's stock was as depicted in the table below:[8]

China Zheshang Bank Stock Ownership
RankName of OwnerPercentage Ownership
1Zhejiang Finance Development Corporation19.96
2Travelers Automobile Group8.99
3Hengdian Group Holdings Limited8.30
4Zhejiang Hengyi Group6.21
5Other56.54
Total100.00

Governance

China Zheshang Bank is governed by an 18-person board of directors. Of these, four are executive directors, eight are shareholders directors and six are independent directors. These directors select the chairman of the board. The current director is Shen Renkang.[9]

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See also

References
  1. "China Zheshang Bank Profile". China Zheshang Bank old website. Archived from the original on 26 July 2015. Retrieved 3 November 2015.
  2. "Company Overview of China Zheshang Bank". Bloomberg Businessweek. Bloomberg L.P. Retrieved 3 November 2015.
  3. "The Banker Top 1000 World Banks 2014 rankings - UK Press release: For immediate release". The Banker. 30 June 2014. Retrieved 3 November 2015.
  4. "China's Joint Stock Banks - China Zheshang Bank". China Knowledge Online. 26 July 2006. Retrieved 3 November 2015.
  5. "CZB business strategy". CZB. Archived from the original on 26 July 2015. Retrieved 3 November 2015.
  6. "China Zheshang Bank 2014 Annual Report" (PDF). CZB. 31 December 2014. Retrieved 3 November 2015.
  7. Lee, Yvonne (15 September 2015). "China Zheshang Bank Plans $1 Billion IPO in Hong Kong". The Wall Street Journal. [[News Corp]. Retrieved 3 November 2015.
  8. "China Zheshang Bank shareholders and equity shareholders introduction". China Zheshang Bank. Archived from the original on 26 July 2015. Retrieved 3 November 2015.
  9. "China Zheshang Bank shareholders meeting" (PDF). CZB. 26 March 2015. Archived from the original (PDF) on 26 July 2015. Retrieved 3 November 2015.
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