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
Rank Name of OwnerPercentage Ownership
1Tianjin Port Free Trade Zone Investment Co. Ltd19.45
2 Australia and New Zealand Banking Group 14.16
5Other 66.39
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

Reference

  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.

External link

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