Bank of Tianjin

Bank of Tianjin Co. Ltd
Native name
 天津銀行股份有限公司
Joint stock commercial bank
Traded as SEHK: 1578
Industry Banking and Finance
Founded 6 November 1996 (1996-11-06)
Headquarters Tianjin, China
Key people
 Yuan Fuhua - Chairman
Yuanhua Wen - President and Director
Products Consumer Banking
Corporate Banking
Mortgages
Credit Cards
Number of employees
 6,287
Website www.bank-of-tianjin.com

Bank of Tianjin (simplified Chinese: 天津银行: Tiānjīn yínháng) is a city commercial bank headquartered in Tianjin, People's Republic of China and regulated by the People's Bank of China.[1]

Overview

Bank of Tianjin (BoT) serves customers through a network of 109 branches across the major cities in the country. In 2015, the bank ranked 219 in terms of tier-one capital by the "Global Banking 1000" list by the UK based Banker magazine .[2] As of 31 December 2015, the bank had 306 outlets and an asset base of RMB 564 billion (US$84.6 billion).

History

Bank of Tianjin was founded on 6 November 1996 as Tianjin City Co-operative Bank to serve the local communities of the city. In May 1998 the bank was rename Tianjin City Commercial Bank.[2]

In March 2007, the bank's name was yet again changed to Bank of Tianjin. This was after receiving foreign direct investment of US$111.4 million from Australian based banking giant, ANZ Group. This gave ANZ group a 20% stake in Bank of Tianjin.[3] The same year saw the bank expand its operations into Beijing.[2]

March 2016 saw the bank list H shares on the Hong Kong Stock exchange after an IPO that was led by BOC International, ABC International and CCB International.[2] The bank managed to raise US$950 million in the public offering[4] short of the US$1.23 billion that the bank was initially targeting.[5] After the IPO, the bank was caught in a $122 million fraud incident at its Shanghai branch. Agricultural Bank of China was said to be investigating a similar incident[6]

Investments

Other than its banking core business, Bank of Tianjin holds a 35% stake in Tianjin Jixian County Bank Co. Ltd, a commercial bank in Jixian County, China. BoT initially held a 53.87% in Tianjin Jixian County Bank but later on ceded stake to other investors.[7]

Ownership

The shares of the stock of Bank of Tianjin are traded on the Hong Kong Stock Exchange, under the ticker: 1578. As of 31 December 2015, the shareholding in the bank's stock was as depicted in the table below:[7]

Bank of Tianjin Stock Ownership
RankName of OwnerPercentage Ownership
1Tianjin Port Free Trade Zone Investment Co. Ltd19.45
2Australia and New Zealand Banking Group14.16
5Other66.39
Total100.00

Governance

Bank of Tianjin is governed by an fourteen-person Board of Directors with Yuan Fuhua serving as the Chairman of the group and Yuanhua Wen as the President and Executive Director.[8]

See also

References

  1. ↑ "Banks : Company Overview of Bank of Tianjin Co., Ltd". Bloomberg Businessweek. Bloomberg L.P. Retrieved 2016-11-23.
  2. 1 2 3 4 "Bank of Tianjin IPO Prospectus" (PDF). Bank of Tianjin. 2016-03-15. Retrieved 2016-11-23.
  3. ↑ "ANZ Group 2006 Annual Report" (PDF). ANZ Group. Retrieved 2016-11-24.
  4. ↑ "Bank of Tianjin prices HK listing near bottom, raising $950 mln-source-IFR". Reuters. Thomson Reuters. March 20, 2016. Retrieved 2016-11-24.
  5. ↑ "Bank of Tianjin, Investors Seek Up to $1.23 Billion From IPO". Bloomberg Businessweek. Bloomberg L.P. March 15, 2016. Retrieved 2016-11-24.
  6. ↑ Wong, Jacky (April 11, 2016). "Fresh Chinese Bank IPO Turns Sour in a Hurry". The Wall Street Journal. Dow Jones & Company. Retrieved 2016-11-24.
  7. 1 2 "Bank of Tianjin 2015 Annual Report" (PDF). Bank of Tianjin. 2016-04-29. Retrieved 2016-11-24.
  8. ↑ "List of Directors and their roles and Functions" (PDF). Bank of Tianjin. August 30, 2016. Retrieved 2016-11-23.
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