Nanyang Commercial Bank
Hong Kong
Bank in Hong Kong
| Nanyang Commercial Bank | |||||||||
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| Traditional Chinese | 南洋商業銀行 | ||||||||
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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]
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 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
- ^ "Profile at NCB official website".
- ^ "NCB Profile". Nanyang Commercial Bank. Retrieved 14 January 2019.
- ^ "BOCHK realises HK$30 billion profit from Nanyang sale". South China Morning Post.
- ^ "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.
External links
Banks portal
- Official website
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Incorporated in Hong Kong
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