China Merchants Bank

China Merchants Bank Company Limited
Native name
招商银行股份有限公司
Company typePublic
IndustryBanking
Founded8 April 1987; 37 years ago (1987-04-08)
FounderYuan Geng
Headquarters
China Merchants Bank Tower, Futian District, Shenzhen, Guangdong
,
China
Area served
Worldwide
Key people
Miao JianMin (Chairman)
Wang Liang (President & CEO)
ServicesDeposit, loan, credit card and other banking services.
RevenueIncrease CN¥225.61 billion
$60.4 billion (2020)[1]
Increase CN¥106.5 billion
$15.5 billion (2018)[1]
Increase CN¥80.56 billion
$11.7 billion (2018)[1]
Total assetsIncrease CN¥6.746 trillion
$980 billion (2018)[1]
Total equityIncrease CN¥543.61 billion
$79.01 billion (2018)[1]
OwnerChina Merchants Group (18%)
Number of employees
74,590 (2018)[1]
Website[1]

China Merchants Bank (CMB) (Chinese: 招商银行; pinyin: Zhāoshāng Yínháng) is a Chinese bank headquartered in Futian District, Shenzhen, Guangdong, China. Founded in 1987, it is the first share-holding commercial bank wholly owned by corporate legal entities in China. CMB listed on the Shanghai Stock Exchange in 2002 and the Hong Kong Stock Exchange in 2006.[2]

CMB has over five hundred branches in mainland China and one in Hong Kong. In November 2007, as part of a drive for international growth, it won federal approval to open a branch in New York City.[3] In 2008, China Merchants Bank was the first Chinese bank to open a branch in the United States.[2]

On January 19, 2016, with the approval of the China Banking Regulatory Commission and the UK financial regulatory authorities, China Merchants Bank officially opened its London branch. This is the first branch of a Chinese joint-stock bank to be approved in the UK.[4][5] In October 2021, it was assessed and designated as a Domestic Systemically Important Bank.[6][7][8] In 2023, China Merchants Bank was ranked 26th in Forbes Global 2000.[9]

  1. ^ a b c d e f "Annual Report 2018" (PDF). China Merchants Bank Company Limited. 22 March 2019. Retrieved 1 June 2019.
  2. ^ a b "China Merchants Bank". Banks around the World. Archived from the original on 22 March 2023. Retrieved 8 February 2024.
  3. ^ "FEDERAL RESERVE SYSTEM – Order Approving Establishment of a Branch" (PDF).
  4. ^ "招商银行伦敦分行获批成立-搜狐财经". business.sohu.com. Retrieved 9 October 2024.
  5. ^ "招商银行伦敦分行获批成立". gb.mofcom.gov.cn. Retrieved 9 October 2024.
  6. ^ 央行 (15 October 2021). "央行、银保监会发布我国系统重要性银行名单". finance.sina.com.cn. Retrieved 9 October 2024.
  7. ^ "Ready Card Balance". rcbalance.org. Retrieved 9 October 2024.
  8. ^ "国家金融监督管理总局". www.cbirc.gov.cn (in Chinese (China)). Retrieved 9 October 2024.
  9. ^ "The Global 2000 2023". Forbes. Archived from the original on 29 January 2024. Retrieved 7 February 2024.