Bank of Beijing Co., Ltd. (abb. BOB) is an urban commercial bank based in Beijing, China. According to the bank, most of the revenue came from Beijing,[3]: 16–17 despite that the banking group had more than half of the branches located outside the direct-controlled municipality (As of 31 December 2017[update], 302 out of 559 branches were located outside Beijing).[3]: 23–24 Beijing Municipal People's Government and the Netherlands-based multinational bank ING Bank were the major shareholders of the bank.
The bank, initially known as 北京城市合作银行, was incorporated on 29 January 1996.[3][7] (or founded on 8 January 1996 according to another source;[8] the establishment of the bank was approved by various departments in June–December 1995.[7]) The bank was founded as a holding company for the credit unions (Chinese: 城市信用社) in the city. However, in 1997, it was discovered that one of the former credit union of the banking group in Zhongguancun, had an accounting scandal with a huge deficit.[9] The manager of that branch was arrested in 2011 and was sentenced 14 years imprisonment in 2012;[10] the governor of that branch was arrested in 1998 and was sentenced capital punishment in 2003.[11]
In 2005, the bank became a Sino-foreign joint venture, which ING Group purchased 19.9% shares of the bank.[14] On 19 September 2007, the bank became a listed company on the Shanghai Stock Exchange.[4][7][15] The bank also purchased a Sino-foreign joint venture insurance company, which was previous known as ING Capital Life Insurance in 2010, from municipal-owned Beijing Capital Group.[16] As of 31 December 2017[update], the bank still owned 50% stake of the insurer,[3] which now known as BOB-Cardif Life.[17] Despite that it was now a joint venture of the bank and French multinational company Cardif, the insurer was still known as 中荷人寿 in Chinese,[3] literally Sino-Dutch Life Insurance.
In December 2017, ING subscribed the capital increase of the bank, despite that the ownership ratio of the ordinary shares was still diluted from 13.6% to 13.0%.[18] Before the capital increase, Beijing municipal government only owned 8.84% shares via Beijing State-owned Assets Management, as well as additional 5.08% via Beijing Energy Investment Holdings.[19] However, it also caused a minor controversy in 2013, as Ren Zhiqiang (Chinese: 任志强), an independent director of the bank, accused the State-owned Assets Supervision and Administration Commission (SASAC) of Beijing municipal government[nb 1] had influenced the election of the supervisory board (Chinese: 监事会) of the bank, which Qiang Xin (Chinese: 强新), the deputy of Beijing SASAC was elected as the chairwoman of the supervisory board (Chinese: 监事长), replacing Shi Yuan (Chinese: 史元). Qiang also served as the Deputy Party Committee Secretary of the bank since 2010.[20][21] Qiang was succeeded by Zeng Ying (Chinese: 曾颖) in 2016; she was the deputy of Beijing Bureau of China Banking Regulatory Commission in 2011.[19]
The bank also faced another minor scandal in February 2015, in which a director of the bank, Lu Haijun (Chinese: 陆海军) was under investigation for corruption.[22] He was dismissed by the shareholders' meeting during 2015.[23] Since 2008, Lu was also the chairman of Beijing Energy Investment Holdings, a shareholder of the bank.[24] Lu was sentenced 11 years imprisonment for his crime as the manager of Beijing Energy Investment Holdings in 2016.[25]
The bank was ranked as the 73rd in the world (and 15th in the mainland China) in 2017 Top 1000 World Banks by The Banker magazine, in terms of banks' equity.[30] The bank was ranked 155th in 2010 (12th inside the mainland China),[31] and 77th in 2016 in Top 1000 World Banks.[32]
See also
Huaxia Bank, another Beijing based medium-sized bank, which was also a Sino-foreign joint venture
^ abcdefgh"2017 nián nián dù bào gào" 2017年年度报告 [2017 Annual Report] (PDF) (in Chinese (China)). Bank of Beijing. 27 April 2018. Retrieved 30 April 2018 – via Shanghai Stock Exchange website.
^李彦春 (17 February 2017). 闫冰竹：金融报国二十春. 北京青年报 (in Chinese (China)). Archived from the original on 30 April 2018. Retrieved 30 April 2018 – via china.com.cn.
^原北京城市合作银行中关村支行高管违规放贷7.46亿获刑14年. 京华时报 (in Chinese (China)). 11 January 2012. Retrieved 30 April 2018 – via People's Daily web portal.
^大玩空手道插足银行大案 香港富商被判无期. 北京晚报 (in Chinese (China)). 14 June 2006. Retrieved 30 April 2018 – via Sina news portal.
^中国银行业监督管理委员会办公厅关于北京市商业银行更名的批复 (Press release) (in Chinese (China)). Beijing: China Banking Regulatory Commission. 13 September 2004. Archived from the original on 30 April 2018. Retrieved 30 April 2018.
^北京市商业银行更名为北京银行的公告 (Press release) (in Chinese (China)). Bank of Beijing. 7 January 2005. Retrieved 30 April 2018 – via chinabond.com.cn.
^ ab"2016 nián nián dù bào gào" 2016年年度报告(PDF) (in Chinese (China)). Bank of Beijing. 26 April 2017. Retrieved 30 April 2018 – via Shanghai Stock Exchange website.
^李微敖 (16 January 2013). 北京银行监事长更迭涉违规 独立董事：国资委任命不当. 财经网 (in Chinese (China)). Retrieved 30 April 2018 – via ifeng.com.
^"2014 nián nián dù bào gào" 2014年年度报告(PDF) (in Chinese (China)). Bank of Beijing. 27 April 2015. Retrieved 30 April 2018 – via Shanghai Stock Exchange website.
^"2013 nián nián dù bào gào" 2013年年度报告(PDF) (in Chinese (China)). Bank of Beijing. 28 April 2014. Retrieved 30 April 2018 – via Shanghai Stock Exchange website.
^京能原董事长陆海军获刑11年. 北京晚报 (in Chinese (China)). 14 January 2016. Archived from the original on May 1, 2018. Retrieved 30 April 2018 – via XinhuaNet web portal.
^"Joint Announcement"(PDF) (Press release). JLF Investment; Macro-Link International Land. 4 May 2015. Retrieved 30 April 2018 – via Hong Kong Exchanges and Clearing website.
^大道商诚 (3 August 2017). 2017全球银行1000强榜单：126家中资银行上榜！(blog) (in Chinese (China)). Retrieved 30 April 2018 – via sohu.com.
