Nanyang Commercial Bank (NCB,
Chinese: 南洋商業銀行) is a
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
based in
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...
and a wholly owned subsidiary of
China Cinda Asset Management
China Cinda Asset Management Co., Ltd. known as China Cinda or just Cinda is a Chinese merchant bank and asset management company. The corporation was founded as a state-owned enterprise and a bad bank for China Construction Bank in 1999. The ban ...
(Cinda), with 42 branches. It was established in Hong Kong on 14 December 1949. NCB primarily focuses on corporate customers, in particular trading companies.
In 2015 Cinda acquired Nanyang Commercial Bank from Bank of China (Hong Kong) for HK$68 billion. Cinda had purchased NCB to diversify its business in areas of cross-border finance.
Strategic Development
It was reported in December 2018 that Nanyang Commercial Bank was one of the shareholders of a new fintech firm Nova Credit, which had entered bid to a new Know Your Client utility platform to be implemented for banks in Hong Kong and greater bay China region.
References
External links
Official website{{Portal, Banks
Banks of Hong Kong
Bank of China
Banks established in 1949
1949 establishments in Hong Kong