Nanyang Commercial Bank

Nanyang Commercial Bank (NCB, Chinese: 南洋商業銀行) is a bank based in Hong Kong and a wholly owned subsidiary of China Cinda Asset Management (Cinda), with 42 branches. It was established in Hong Kong on 14 December 1949. [1] NCB primarily focuses on corporate customers, in particular trading companies.[2]

Nanyang Commercial Bank
南洋商業銀行
Location
WebsiteOfficial website
Nanyang Commercial Bank
Traditional Chinese南洋商業銀行

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.[3]

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. [4]


References
  1. "Profile at NCB official website".
  2. "NCB Profile". Nanyang Commercial Bank. Retrieved 14 January 2019.
  3. "BOCHK realises HK$30 billion profit from Nanyang sale". South China Morning Post.
  4. "Credit reporting agency TransUnion 'a finalist' in bid for Hong Kong's next big fintech project despite data security row". SCMP. 4 December 2018. Retrieved 14 January 2019.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.