Bank Of Ningbo Co.,Ltd. (China)

Bank of Ningbo Co., Ltd. is a stock commercial bank with independent legal person status. It was established in May 2006 and introduced a foreign strategic investor, OCBC Bank from Singapore. On July 19, 2007, the company was listed on the Shenzhen Stock Exchange, becoming one of the first city commercial banks to be listed in China. The company opened its Shanghai branch on May 18, 2007, successfully implementing its three major development strategies of introducing strategic investors, going public, and expanding into different regions. As of the end of March 2014, the company had a total of 225 business outlets, including 9 branches in Shanghai, Hangzhou, Nanjing, Shenzhen, Suzhou, Wenzhou, Beijing, Wuxi, and Jinhua, as well as 1 head office business department and 215 sub-branches. In recent years, the company has actively promoted management innovation and financial technology innovation, striving to build eight profit centers including corporate banking, retail banking, personal banking, credit cards, financial markets, bills, asset custody, and investment banking, in order to achieve diversified sources of profit. As of the end of March 2014, the bank's total assets were CNY 531.748 billion, with total deposits of CNY 280.883 billion and total loans of CNY 184.243 billion. The capital adequacy ratio was 11.04%, and the core tier 1 capital adequacy ratio was 8.81%. The non-performing loan ratio was 0.89%, with a provision coverage ratio of 248.74%. The bank achieved a net profit of CNY 1.502 billion in the first quarter, with a net asset per share of CNY 9.48. The company is one of the banks in China with good asset quality, strong profitability, high capital adequacy ratio, and low non-performing loan ratio. It ranked 248th in the Banker magazine's 2013 Global 1000 Banks and 263rd in the 2012 Global Bank Brands 500.