Industrial Bank (China)
Industrial Bank (SSE: 601166) was the old short name that was more commonly used in China from June 2001 until March 3, 2003 for Industrial Bank Co.
The former Fujian Industrial Bank (福建兴业银行) was established on August 26, 1988, and changed its name in June 2001 to Fujian Industrial Bank Joint-Stock Corporation, Limited (福建兴业银行股份有限公司). The bank changed its name again on March 3, 2003 to Industrial Bank Joint-Stock Corporation, Limited (兴业银行股份有限公司).
The main business scope of the Bank includes: deposits taking; provision of short, medium and long-term loans; domestic and international settlement; bills acceptance and discounting; issuing financial bonds; agency issuing, cashing and underwriting of government bonds; trading of government bonds and financial bonds; agency issuing quoted securities except equity, trading and agency trading of quoted securities except equity; asset custody business; inter-bank borrowing and lending; trading or agency trading of foreign exchange; settlement and sales of foreign exchange; bank card business; L/C services and guarantee; agency collections and payments, safe-box services, financial consulting, credit investigation, consulting, witness business, and other banking activities approved by the China's Banking Regulatory Commission.
As of their June 2015 filings, Industrial Bank ranks no. 1 amongst Chinese companies for interest receivable, interest expenses, net deposits increase from clients and banks and financial institutions, total liabilities, and total liabilities and equity.[1] It ranks no. 2 for net income, operating profit, total profit, net increase in borrowings from other financial institutions, cash from issuing bonds, and proceeds from sell of investment;[1]
In practice, the bank is commonly referred to as Industrial Bank (simplified Chinese: 兴业银行; traditional Chinese: 興業銀行; pinyin: Xīngyè Yínháng).
References
- 1 2 "Industrial Bank Co.,Ltd. Fundamental Rankings". China Stock Facts. 2015.
