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China Merchants Bank Introduction

In 1987, China Merchants Bank (CMB) was founded in Shekou Industrial Zone of Shenzhen, the forefront of China's reform and opening-up. It is China's first joint-stock commercial bank wholly owned by corporate legal entities and the first pilot bank as China promoted reform in the banking industry with endeavors outside the government.

Since its inception, CMB has been leading the trends of China's banking industry through a series of pioneering efforts. It is the first bank to issue the "All-in-One Card", a milestone debit card that is managed based on customer number. It also created the first domestic online banking platform––"All-in-one Net", the first dual-currency credit card based on international standards, and the first wealth management product for high-end customers––"Sunflower Wealth Management". It developed the first smart investment advisory product in the industry––"Machine Gene Investment". Besides, CMB was one of the first among domestic peers to introduce services such as offshore banking, buyer's credit, domestic letter of credit, enterprise annuity, cash management, online customs tax payment, corporate wealth management and online bill acceptance.

Upholding the service concept of "We Are Here Just for You", CMB has grown into one of the most famous brands over the past 32 years. In 2018, it ranked 20th in terms of Tier-One Capital among the Top 1000 Global Banks of The Banker, a renowned financial magazine of the United Kingdom, up by 3 places compared to 2017. On the list of Top 500 Banking Brands of The Banker, CMB has jumped into the Top 10, ranking 9th in 2019. CMB has also made presence on the Fortune Global 500 List for 7 consecutive years and ranked 213th in 2018.

By the end of 2018, with over 70,000 employees, CMB has set up a service network that consists of more than 1,800 branches worldwide, including six overseas branches, three overseas representative offices, and service outlets located in more than 130 cities of mainland China. In mainland China, CMB has two subsidiaries, namely CMB Financial Leasing (wholly-owned) and China Merchants Fund (with controlling stake), and two joint ventures, namely CIGNA & CMB Life Insurance (50% in shareholding) and Merchants Union Consumer Finance Company (50% in shareholding). In Hong Kong, it has two wholly-owned subsidiaries, namely CMB Wing Lung Bank and CMB International Capital. CMB has evolved into a comprehensive banking group equipped with financial licenses of commercial banking, financial leasing, fund management, life insurance and overseas investment banking.

In recent years, closely adhering to the transformation objective of building a "Light-operation Bank", CMB has achieved dynamic balance in "quality, profitability and scale", continued to optimize its operation structure, progressed in digital transformation, and reached better results in international and comprehensive operation. In 2018, CMB maintained stable asset growth and showed stronger profitability with its profit growth rate among the highest in the industry. CMB also continued to improve asset quality with declining balance and ratio of non-performing loans. Its Capital Adequacy Ratio kept rising, which showed good capability of capital generation. In 2018, CMB's PB of A-share and H-share remained the highest among major domestic listed banks.

Looking ahead, CMB will further push forward the innovation-driven development strategy, accelerate the construction of "Digital Bank", and develop business agility driven by technology agility. In 2018, CMB's spending on information technology reached 6.50 billion RMB, up by 35.17% year-on-year, and 1% of its operating income in the previous year was put into the fund of Fintech innovation projects. Next, CMB will fully integrate technology with business according to customer needs, and quickly update and continuously deliver products and services so as to provide the best customer experience and achieve balance among efficiency, cost and risk.