The development history of "CITIC Bank"?

CITIC Bank, formerly known as CITIC Industrial Bank, was founded in 1987 and changed to its current name at the end of 2005. CITIC Bank is one of China's national commercial banks, headquartered in Beijing, and its main shareholder is China CITIC Group Corporation. Spanish Bank of Spain (Banco Bilbao Vizcaya Argentaria, S.A BBVA) spent 501 million euros (approximately HK$5.02 billion) to purchase a 5% stake in China CITIC Bank, and also has the option to increase its shareholding in China CITIC Bank to 10.07%. On April 19, 2007, CITIC Bank was listed on the Shanghai Stock Exchange. CITIC Bank is the seventh largest bank in mainland China, with total assets of more than HK$1.2 trillion, more than 16,000 employees and more than 540 branches. It is one of the six lines and three guarantees for Chinese financial stocks in Hong Kong.

Establishment background

CITIC Bank was founded in 1987, formerly known as CITIC Industrial Bank. It is one of the earliest emerging commercial banks established during China's reform and opening up. With the rapid development of China's economy, CITIC Industrial Bank has gradually grown and expanded in the tide of China's financial market reform. In August 2005, it was officially renamed "CITIC Bank".

At the end of 1984, with the needs of economic development, Mr. Rong Yiren, chairman of China International Trust and Investment Corporation (referred to as CITIC Corporation), sent a special letter to the central government requesting the establishment of a bank under the CITIC Corporation system to comprehensively operate foreign exchange banking business. . With the approval of the State Council and the People's Bank of China, a banking department will be established first to expand foreign exchange banking business and prepare for the establishment of a bank.

In April 1985, CITIC Corporation established the Banking Department on the basis of the original Finance Department, further expanding comprehensive banking services such as external financing, foreign exchange transactions, loan issuance, international settlement, financial leasing and deposit taking. . In the two years since the Banking Department was established, it has received strong support and help from the People's Bank of China and the State Administration of Foreign Exchange, and its business has progressed rapidly. By handling RMB and foreign exchange deposits, loans, import and export issuance, international leasing, and securities It has accumulated certain experience in foreign exchange trading, foreign currency exchange and other businesses, and has initially met the conditions for establishing a bank.

At the end of May 1986, CITIC Corporation applied to the People's Bank of China to reorganize the banking department of CITIC Corporation into CITIC Industrial Bank. In early 1987, with the approval of the State Council and the People's Bank of China, CITIC Bank was officially established. The head office is located in Beijing.

In April 1987, the People's Bank of China approved CITIC Bank as a state-owned comprehensive bank affiliated with CITIC Corporation. It is a subsidiary of CITIC Corporation and an independent legal person. Registered capital is RMB 800 million. Implement independent operations, independent accounting, and be responsible for profits and losses. Branches can be established at home and abroad to operate approved banking services.

Mr. Rong Yiren, former Vice Chairman of the People’s Republic of China, is appointed as Honorary Chairman of China CITIC Bank.

Time of establishment

On February 28, 1987, the General Office of the State Council approved the establishment of CITIC Industrial Bank.

On March 17, the People's Bank of China approved the establishment of CITIC Industrial Bank.

On April 10, the People's Bank of China issued a financial business license to CITIC Industrial Bank.

On April 14, Rong Yiren, Chairman of CITIC Corporation and Honorary Chairman of CITIC Industrial Bank, held a press conference and announced that the former banking department of CITIC Corporation was changed to "CITIC Industrial Bank" with the approval of the State Council and the People's Bank of China. ". CITIC Industrial Bank started operations in April.

On April 21, the State Administration of Foreign Exchange approved the scope of foreign exchange business of CITIC Industrial Bank.

On April 22, the State Administration of Foreign Exchange issued CITIC Industrial Bank’s foreign exchange business license.

On April 29, the State Administration for Industry and Commerce issued the industrial and commercial business license of CITIC Industrial Bank.

On May 17, Xinhua News Agency released news about the opening of CITIC Industrial Bank.

On September 16, China CITIC Bank held an official opening reception at the International Building in Beijing. The then Vice Chairman of the Military Commission Yang Shangkun, Vice Prime Minister Tian Jiyun, State Councilor Chen Muhua and other leading comrades attended the reception. Rong Yiren, then Chairman of CITIC Corporation and Honorary Chairman of CITIC Bank, presided over the meeting, and Chen Muhua, then State Councilor and Governor of the People's Bank of China, spoke.

Records of Major Events

On December 4, 1987, China CITIC Bank handled the first issuance of 15 billion Euro yen bonds for CITIC Corporation in London, England. |

In the same month, it cooperated with Pratt & Whitney Securities Investment Co., Ltd. of the United States to carry out civil aviation leasing business. This was the first time that the domestic leasing industry cooperated with a foreign country in aircraft leasing business.

On August 14, 1988, China CITIC Bank issued RMB financial bonds of RMB 30 million for the first time.

In April 1989, CITIC Bank became the first domestic bank to simultaneously open the Reuters and Associated Press information systems to carry out international financial transactions.

On October 30, 1991, China CITIC Bank issued the first floating-rate yen bond in Tokyo, Japan, on behalf of CITIC Corporation.

In March 1992, China CITIC Bank was the first in China to launch instant payment business. In May of the same year, China CITIC Bank established the first foreign exchange ATM in China.

[6] In July 1993, China CITIC Bank, on behalf of CITIC Corporation, signed the 1993 Phase 2 Treasury Bills (non-physical) offtake and underwriting agreement with the Ministry of Finance, with an underwriting amount of RMB 150 million, and the first batch of Obtained the qualification of the first-level dealer of the People's Republic of China and the National Treasury Bonds recognized by the Ministry of Finance.

On July 29, 1993, China CITIC Bank issued US$250 million of Yankee bonds in New York on behalf of CITIC Corporation. This is the first time since 1911 that a Chinese company has entered the U.S. market to issue public bonds.

On March 9, 1994, China CITIC Bank cooperated with American Express to launch instant remittance business, becoming the first bank in China to launch this business.

As of 1994, CITIC Bank was the only financial institution in China that underwrote foreign bonds. At that time, it had participated in the underwriting of 23 foreign bonds, with an underwriting volume of US$386 million.

In December 1994, China CITIC Bank issued commercial papers to Japanese financial institutions on behalf of CITIC Corporation and successfully raised loans of US$50 million and 5 billion yen. This was the first time for a Chinese enterprise to use its reputation abroad. Issue commercial paper.

In November 1995, China CITIC Bank and Lehman Brothers of the United States jointly served as the principal underwriters of the US$200 million Xiaolong debt of the Ford Motor Company, pioneering the participation of Chinese financial institutions in underwriting foreign corporate bonds. and served as chief executive.

In January 1996, China CITIC Bank participated in the National Unified Interbank Lending Trading System as one of the first members. On the first trading day, it completed the first transaction of special significance with rapid and accurate operations.

In June 1996, CITIC Bank successfully launched China's first all-teller system in Guangzhou, implemented face-to-face services, and took the lead in launching new commercial banking services such as private financial management, specifically for large depositors. A full range of financial services.

In March 1998, CITIC Bank and the U.S. Embassy in China signed the "Memorandum on CITIC Bank's Collection of U.S. Non-Immigrant Visa Application Fees". According to the memorandum, CITIC Bank has offices in Beijing, Shanghai, Guangzhou, and Chengdu. And branches in Shenyang area collect visa application fees on behalf of the US Embassy. The development of this business has had a positive social impact at home and abroad. The Bank is the only bank in China to carry out this kind of business.

In June 1998, China CITIC Bank, as the only commercial bank invited by the Diaoyutai State Guesthouse, participated in the reception during the visit of US President Clinton and his delegation. With its rigorous work style, standardized service standards, and warm and thoughtful 24-hour service, CITIC Bank has won the praise and banner of "full assistance and first-class service".

In 1999, CITIC Bank officially launched the CITIC Debit Card, which enabled nationwide, bank-wide, and UnionPay transactions. One card has multiple accounts, one card has multiple functions, and one card has multiple uses. "Cai Lian Bao" is favored by the market for its superiority in compound intelligent financial management, and has been officially approved as a national registered trademark by the State Administration for Industry and Commerce, becoming the first registered trademark in the financial services field.

In 2000, China CITIC Bank launched the CITIC Credit Card, which is a multi-functional bank card that integrates credit extension, withdrawals, transfers and consumption. Spend first and repay later, giving cardholders real Bank credit has achieved integration with international standards.

In July 2000, China CITIC Bank, as the first domestic bank certified by the China Financial Certification Center, officially launched online banking services.

In 2001, China CITIC Bank assisted CITIC Corporation in successfully issuing a 10-year bond totaling RMB 3.5 billion in the inter-bank bond market. This is the first time the Bank has underwritten the first bond as the lead underwriter.

In July and September 2001, under the active initiative of China CITIC Bank, 10 domestic joint-stock commercial banks carried out diversified and comprehensive reforms in terms of business, funds, information, management, talents, etc. Reaching a consensus on sincere cooperation and complementary advantages, we jointly signed the "Changsha Declaration" and the "Suzhou Agreement."

In July 2001, CITIC Bank ranked 318th among the world's largest banks in the ranking of the British "Banker" based on Capital One. In the "Financial Strength Rating" of the famous international consulting company Moody's, China CITIC Bank won the highest rating among domestic commercial banks.

In January 2002, the Trademark Office of the State Administration for Industry and Commerce officially issued a trademark registration certificate to CITIC Bank, confirming that CITIC Bank's "Wealth Management Treasure" is a registered trademark recognized by the State Administration for Industry and Commerce, and the scope of approved services Including credit card issuance, credit card services, financial services, etc.

In February 2002, CITIC Bank Hangzhou Branch was awarded the title of "National Advanced Unit for Financial Civilization Construction" by the Spiritual Civilization Construction Committee of the Central Financial Working Committee.

In July 2002, the British "Banker" magazine ranked the world's 1,000 largest banks in order of tier one capital. CITIC Bank ranked 291st, entering the top 300 global banks for the first time.

On November 28, 2002, the signing ceremony for IBM's general contracting of CITIC Holdings and CITIC Bank's unified information platform project was held in Beijing. This cooperation marks that the Bank has become the first bank in China to fully introduce international advanced core business systems and achieve complete data concentration with both software and hardware. At the same time, this project is also one of IBM's largest service projects in China.

In July 2003, CITIC Bank’s average capital profit rate ranked first among domestic banks in the latest global bank rankings of The Banker in the UK.

On October 6, 2003, the "2003 CITIC Jiajiale - Paladin Journey of Happiness" event concluded successfully.

On November 25, 2003, the foreign exchange collection and payment volume under the international business and trade of the Head Office Sales Department exceeded the US$10 billion mark.

On December 8, 2003, China CITIC Bank held a press conference on CITIC STAR Credit Card in Beijing. Chairman Wang Jun issued the first CITIC STAR Platinum Card to Mr. Wang Yan, President and CEO of Sina.com.

On April 27, 2007, CITIC Bank was listed simultaneously on the Shanghai and Hong Kong exchanges. It is another mainland bank listed on A+H at the same price after ICBC, and it is also the ninth bank stock in the A-share market.

On January 12, 2009, China CITIC Bank won the title of "Top Ten Influential Brands of Financial Services for Small and Medium-Sized Enterprises in China".

On January 30, 2009, President Chen Xiaoxian attended the signing ceremony for cooperation between China and Spain in the fields of finance, aviation, energy, telecommunications and other fields.

On January 31, 2009, China CITIC Bank won the "Brand with the Most Impact on Golf of the Year" award from Golf Weekly.

In February 2009, President Chen Xiaoxian was elected as one of the "Top Ten Financial Figures in China" for the fourth consecutive time.

In February 2009, China CITIC Bank won the title of “Excellent Trading Member” in the 2008 National Interbank Bond Market.

In February 2009, China CITIC Bank entered the top 100 most valuable brands in the British "The Banker" magazine for the first time.

On February 12, 2009, China CITIC Bank won the "China's Most Popular Real Estate Financial Credit Institution" award.

On February 18, 2009, CITIC Bank successfully launched a multi-bank fund management system.

On February 28, 2009, China CITIC Bank won four honors including the "Best Corporate Social Responsibility Award" at the "2008 China Financial Marketing Awards" award ceremony.

On March 3, 2009, China CITIC Bank Private Banking Shenzhen Branch opened grandly.

On March 5, 2009, China CITIC Bank Credit Card Center won the "2008 Business Excellence Award" from the VISA International Card Organization.

On March 12, 2009, China CITIC Bank and the Ministry of Railways signed a comprehensive strategic cooperation agreement.

On March 15, 2009, China CITIC Bank won seven awards in the 2008 inter-bank foreign exchange market from the China Foreign Exchange Trading Center.

On March 17, 2009, China CITIC Bank won four awards in the second China Financial Management Rating.

In April 2009, CITIC Air China Zhiyin Credit Card won the "Top Ten Financial Products Award".

On April 9, 2009, China CITIC Bank’s new generation cash management service platform was successfully launched.

On April 15, 2009, China CITIC Bank ranked among the top in the 2008 regulatory ratings.

On April 18, 2009, China CITIC Bank won the "Securities Times" Best Investment Bank Award.

In May 2009, the data integrity of CITIC Bank’s personal credit reporting system ranked first among banks in the same category in 2008.

On May 8, 2009, China CITIC Bank announced that it had signed a share acquisition agreement with CITIC Group and Gloryshare Investments (a wholly-owned subsidiary of CITIC Group), agreeing to acquire CITIC Bank for a cash consideration of HK$13.563 billion. International Financial Holdings Co., Ltd. (hereinafter referred to as CITIC International Finance) has 70.32% equity, equivalent to a price-to-book ratio of 1.43 times. CITIC International Finance is an investment holding company that spans multiple financial services fields with an asset size of approximately HK$150 billion. Despite the financial crisis in 2008, it still maintained positive growth in operating profits, with profits of HK$12.7 billion. At the same time, CITIC International Finance holds all the shares of CITIC Ka Wah Bank, a 40% interest in CITIC International Asset Management Co., Ltd. and a 50% interest in CITIC Capital Holdings Co., Ltd. This acquisition was evaluated by China CITIC Bank’s senior management as “an acquisition of a suitable object at a suitable time, at a suitable price.” It is also a sign that the bank has taken advantage of CITIC K. Wah in Hong Kong to go overseas and promote An important step in internationalization strategy. In this regard, analysts from various institutions including Goldman Sachs "Hong Kong", Morgan Stanley, CICC, Deutsche Bank, Bank of China International, etc. have all given positive comments.

On June 1, 2009, the computer room of China CITIC Bank’s Xi’an remote disaster recovery center was officially opened.

On June 3, 2009, CITIC Bank personal online banking version 5.2 was officially launched.

On June 25, 2009, China CITIC Bank launched the first domestic financial exclusive debit card "Return Card".

After 2004, Chen Xiaoxian served as executive director and deputy general manager of CITIC Group Corporation, executive director of CITIC Holdings Co., Ltd., and president of CITIC Bank.

On August 7, 2012, eight years after Chen Xiaoxian took charge of China CITIC Bank, China CITIC Bank will usher in its new leader. Zhu Xiaohuang, Executive Director and Vice President of China Construction Bank, will serve as the new president. , Zhu Xiaohuang’s appointment will be announced soon.