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Nanyang Commercial Bank

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Nanyang Commercial Bank
南洋商業銀行
Formation14 December 1949; 74 years ago (1949-12-14)
Location
Websitencb.com.hk
Nanyang Commercial Bank
Traditional Chinese南洋商業銀行
Transcriptions
Yue: Cantonese
Yale RomanizationNàahm yèuhng sēung yihp ngàhn hòhng
JyutpingNaam4 joeng4 soeng1 jip6 ngan4 hong4

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 33 branches, 3 Commercial Business Centres and 4 Cross-border Wealth Management Centres. It was established in Hong Kong on 14 December 1949.[1] NCB primarily focuses on corporate customers, in particular trading companies.[2]

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

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It was reported in December 2018 that Nanyang Commercial Bank was one of the shareholders of a financial technology 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

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  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.
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