China Merchant Bank (CMB) is one of the largest commercial banks in the People’s Republic of China and China’s first joint-stock commercial bank.
The Bank is the first of the kind in developing a series of E-Banking distribution channels, such as Online Banking, Phone Banking, and Mobile Banking.
For CMB Mobile Banking or CMB Login, Click here or visit www.english.cmbchina.com
China Merchant Bank was established in 1987 in the Shenzhen Special Economic Zone as a pilot bank for the Chinese government to drive financial reform.
The bank has since grown from a small bank with $145 million in the capital, a single bank outlet, and about 30 employees, to one of the six largest commercial banks in China. It was ranked 38 on Forbes global 2000 2016 list.
As of May 2016, the bank boasted of a market capitalization of $66.8 Billion and assets worth $843.13 Billion. China Merchant Bank is headquartered in Futian District, Shenzhen, Guangdong, China.
- Products and Services
- CMB Offshore Banking Services
- Deals and Acquisitions
- Principal Subsidiaries
- Bank’s Website
History of China Merchant Bank
The bank was established in 1987 in Shenzhen. China Merchants Bank (“CMB”), the forefront of China’s reform and opening-up drive “) is China’s first joint-stock commercial bank and also the first bank to attend the national experiment for the promotion of China’s banking industry reform driven by endeavors from outside the government.
Since its inception 29 years ago, CMB has grown into a nationwide joint-stock commercial bank with over 1200 branches and over 70,000 employees, ranking it among the world’s top 100 banks. China Merchant Bank was listed on the Shanghai and Hong Kong Stock Exchange in 2002 and 2006 respectively.
Products and Services CMB
China Merchants Bank Co. Ltd. engages in the provision of corporate and personal banking services. It also conducts treasury business and also into asset management and other financial services.
Most of its businesses are focused on individual business, credit card, financial transactions, and corporate business. The individual business includes personal loan; savings; home life such as online exchange and payment, safety box, and self-service payment; and investment banking. The corporate business includes cash management; investment bank; pension finance; domestic, international, and offshore business; finance lease; financial industry; and asset custody.
CMB Offshore Banking Services of China Merchant Bank
Offshore banking services cater to the financing needs of non-residents by efficient utilization of overseas capital.
In May 1989, China Merchants Bank became China’s banking services in P.R.C to move offshore, approved by People’s Bank of China and State Administration of Foreign Exchange of China (SAFE). Customers abroad are entitled to enjoy a series of premium services that link offshore and onshore businesses seamlessly, such as remote banking, fund management, convenient financing.
Others are the express settlement, especially suitable for multinational groups with transnational operations.
For those Opening an offshore account with this great bank CMB, you will empower you and your companies to transfer funds easily and freely without any form interest tax.
The accounts boost dual functions of settlement and savings, with interest accrued on a daily basis and paid every quarter.
Deals and Acquisitions of CMB
- 2008 – China Merchants Bank Co. bought 12% stake in midsize Hong Kong lender Wing Lung Bank Ltd.
- 2008 – China Merchants Bank bought 50% stake in CIGNA & CMC Life Insurance Co. (CIGNA & CMC)
- 2016 – China Merchants Bank bought state-owned land use right
- CMB Financial Leasing Co., Ltd
- Wing Lung Bank Ltd
- CMB International Capital Corporation Limited
Bank’s Website | CMB Mobile Banking