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China Merchants Bank Introduction
Established in 1987 in Shekou District of Shenzhen, the forefront of China's reform and opening-up drive, China Merchants Bank ("CMB") is China's first joint-stock commercial bank and also the first bank to attend the national experiment for the promotion of China's banking industry reform driven by endeavors from outside the government.
Since its establishment, CMB has been leading the trends of Chinese banking industry reform by a series of pioneering work: It is the first bank in China to issue the "All-in-one Card" — a milestone debit card that is managed based on customer number; It has created the first domestic online banking platform — "All-in-one Net", the first dual-currency international credit card and the first wealth management brand for high-end customers — the "Sunflower Wealth Management"; It has provided services including offshore banking, buyer's credit, domestic letter of credit, enterprise annuity, cash management, online custom tax payment, corporate wealth management, and online bill acceptance way ahead of its domestic peer banks. With the launch of Machine Gene Investment on CMB Mobile Banking APP at the end of 2016, it has created the new service model featuring "human + machine" and "O2O".
In the past 30 years, by adhering to the service concept of "We are here just for you", CMB has grown into one of the most influential commercial banks in China. According to The Banker, a renowned financial magazine of UK, CMB ranked the 13th in terms of brand value among the Top 500 banks in the world for 2016; CMB has enrolled in the Fortune Global 500 list for 5 consecutive years and ranked No. 189 in 2016; According to the "Gyroscope" evaluation system of China Banking Association, CMB has ranked the 1st in overall development strength among commercial banks in China. Well received by domestic and international institutions for its development and operation characteristics, CMB was granted the "2016 Chinese Bank of the Year" by The Banker magazine.
As of the first half of 2017, with over 70,000 employees, CMB has over 1800 branches, including 5 overseas branches and 3 overseas rep-offices. Its domestic outlets are located in over 130 cities of Mainland China. In domestic China, CMB has 2 subsidiaries, namely CMB Financial Leasing (wholly-owned) and China Merchants Fund, and 2 joint ventures, namely CIGNA & CMB Life Insurance (50% in shareholding) and MUCFC (50% in shareholding). In Hong Kong, it has 2 wholly-owned subsidiaries, namely Wing Lung Bank and CMB International Capital. CMB Group is a comprehensive banking group equipped with financial licenses of commercial banking, financial leasing, fund management, life insurance, overseas investment banking, etc.
In recent years, CMB focuses on "mobile priority" strategy and embraces Fintech. We are the first among Chinese banks to promote innovative services including Flash Loan, facial recognition technology and Flash Payment. CMB Mobile Banking APP and CMB Life APP have become great successes in the industry, with the number of active users ranking top 10 among its peers. After years of innovative development, many services of CMB have become the model for the Chinese banking industry. It has been granted as "Best Retail Banking in China", "Best Private Banking in China", "Best Transaction Banking in China", etc. by prestigious media for many years.
Under the New Normal, CMB has established its strategic system with "Light-operation Bank" as the target and "One Body with Two Wings" as the positioning. In 2016, CMB maintained strong profitability, with an industry-leading profit growth rate. It also led in terms of retail profit share, credit card business, the AUM and customer number of private banking, asset under management, asset under custody, financial market business, international business revenue share, and other strategic emerging businesses. Well received by the market and investors, CMB has set foot on a differentiated development path with industry-leading market value. CMB shares rank the highest among large and middle domestic listed banks in terms of both P/B and P/E ratios.
In the future, CMB will position itself as a "Fintech bank". With Fintech as the driving force for transformation, we will strive to become the best commercial bank in China with innovation-driven development, leading retail banking business and distinguished features by accelerating the digitalization process and taking a lead in both mindset and capabilities.