China Zheshang Bank
|Joint stock commercial bank|
|Traded as||SEHK: 2016|
|Industry||Banking and Finance|
|Predecessor||Zhejiang Commercial Bank|
|Founded||26 July 2004|
|Shen Renkang |
President and Director
|Products||Finance and insurance |
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. In 2014, the bank ranked 208 in the "Global Banking 1000" list by the UK based Banker magazine.
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.
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.
Once launched, the bank structured its overall business strategy in two five-year phases:
- 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[update], 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.
In September 2015, CZB announced plans to raise around US$1 billion through an IPO and listing on the Hong Kong Stock Exchange. The listing details were yet to be announced as at the end of October 2015.
|Rank||Name of Owner||Percentage Ownership|
|1||Zhejiang Finance Development Corporation||19.96|
|2||Travelers Automobile Group||8.99|
|3||Hengdian Group Holdings Limited||8.30|
|4||Zhejiang Hengyi Group||6.21|
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.
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- "Company Overview of China Zheshang Bank". Bloomberg Businessweek. Bloomberg L.P. Retrieved 2015-11-03.
- "The Banker Top 1000 World Banks 2014 rankings - UK Press release: For immediate release". The Banker. 2014-06-30. Retrieved 2015-11-03.
- "China's Joint Stock Banks - China Zheshang Bank". China Knowledge Online. 2006-07-26. Retrieved 2015-11-03.
- "CZB business strategy". CZB. Archived from the original on 26 July 2015. Retrieved 2015-11-03.
- "China Zheshang Bank 2014 Annual Report" (PDF). CZB. 2014-12-31. Retrieved 2015-11-03.
- Lee, Yvonne (2015-09-15). "China Zheshang Bank Plans $1 Billion IPO in Hong Kong". The Wall Street Journal. [[News Corp]. Retrieved 2015-11-03.
- "China Zheshang Bank shareholders and equity shareholders introduction". China Zheshang Bank. Archived from the original on 26 July 2015. Retrieved 2015-11-03.
- "China Zheshang Bank shareholders meeting" (PDF). CZB. 2015-03-26. Archived from the original (PDF) on 26 July 2015. Retrieved 2015-11-03.