Bank of Tianjin (

simplified Chinese Simplification, Simplify, or Simplified may refer to: Mathematics Simplification is the process of replacing a mathematical expression by an equivalent one, that is simpler (usually shorter), for example * Simplification of algebraic expressions, ...

: 天津银行: Tiānjīn yínháng) is a city

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

headquartered in

Tianjin Tianjin (; ; Mandarin: ), alternately romanized as Tientsin (), is a municipality and a coastal metropolis in Northern China on the shore of the Bohai Sea. It is one of the nine national central cities in Mainland China, with a total popul ...

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

and regulated by the

People's Bank of China The People's Bank of China (officially PBC or informally PBOC; ) is the central bank of the People's Republic of China, responsible for carrying out monetary policy and regulation of financial institutions in mainland China, as determined by ...

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 . , the bank had 306 outlets and an asset base of

RMB The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. ...

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 renamed to Tianjin City Commercial Bank. 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

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

n based banking giant, ANZ Group. This gave ANZ group a 20% stake in Bank of Tianjin. The same year saw the bank expand its operations into Beijing. March 2016 saw the bank list

H shares H shares () refer to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange. Many companies float their shares simultaneously on the Hong Kong market and one of the two mainland Chinese stock exc ...

on the Hong Kong Stock exchange after an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

that was led by BOC International, ABC International and CCB International. The bank managed to raise US$950 million in the public offering short of the US$1.23 billion that the bank was initially targeting. After the IPO, the bank was caught in a $122 million fraud incident at its Shanghai branch.

Agricultural Bank of China Agricultural Bank of China (ABC), also known as AgBank, is one of the " Big Four" banks in China. It was founded on 10 July 1951, and has its headquarters in Dongcheng District, Beijing. It has branches throughout mainland China, Hong Kong, ...

was said to be investigating a similar incident

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 Jixian County () is a county of eastern Heilongjiang province, People's Republic of China. It is under the jurisdiction of the prefecture-level city of Shuangyashan. Administrative divisions Jixian County is divided into 5 towns and 3 townships ...

, China. BoT initially held a 53.87% in Tianjin Jixian County Bank but later on ceded stake to other investors.

Ownership

The shares of the

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

of Bank of Tianjin are traded on the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repor ...

, under the ticker: 1578. , the shareholding in the bank's stock was as depicted in the table below:

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.

References

External links

*
China Banking Association
(official website) {{Banks of the People's Republic of China , state=collapsed Banks established in 1996 Banks of China 1996 establishments in China Companies based in Tianjin Companies listed on the Hong Kong Stock Exchange