has a bank that is born on the mission of developing a country with an international gene and vision, and always caring about the real economy.
has a bank that is backed by a group tree, and the brothers and sisters who are responsible for the industry are also flourishing. Every "collective action" of the big family may be a symbolic handshake between finance and industry.
1987-2017, this bank - CITIC Bank "established at thirty"!
30 years, CITIC Bank has become a comprehensive, modern and international commercial bank with strong capital and strong market competitiveness. CITIC Bank's growth log can be said to be a microcosm of the continuous growth and transformation of China's joint-stock commercial banks, recording the spirit of the times when financial enterprises are unremittingly pursuing the Chinese dream in the turbulent era.
originated in the room. Writing the history of finance
was born in the room, but bloomed on the world stage. Most people don’t know that more than a thousand outlets cover all provincial institutions across the country and have expanded to overseas CITIC Bank at that time, at that time, it started from a small conference room in Beijing International Building .
On April 14, 1987, at the Beijing International Building, Mr. Rong Yiren, then chairman, presided over a press conference to announce the establishment of CITIC Industrial Bank. This is the first national comprehensive commercial bank established after the reform and opening up. For China's banking industry, 1987 was definitely a year worth remembering in history. It was this year that the concept of commercial banks was truly implemented in my country.
According to Mr. Rong Yiren's expectations, CITIC Bank has been working hard toward the goal of "a new type of commercial bank facing the whole country and the international financial market" since its establishment. The young CITIC Bank actively went abroad and boldly participated in domestic and foreign financial market competition. On behalf of CITIC Group , it successfully issued one bond after another in capital markets such as Tokyo, New York, and London. It has participated in syndicated loans to domestic and foreign enterprises many times as international syndicated banks and leading banks. It has played an important role in my country's vigorous introduction of foreign capital in the early stage of reform and opening up, and has written many firsts in the history of China's financial development: In December 1987, it cooperated with Fitch Securities in the United States to carry out civil aviation. Leasing has become the first commercial bank in China to cooperate with foreign companies to engage in aircraft leasing; in 1996, it led 13 domestic financial institutions to provide US$269 million in export buyer credit syndicated loans for the Tehran subway project in Iran; in 1998, it cooperated with the US Embassy to launch a business of collecting visa application fees and transferring visa materials on behalf of the US Embassy, and enjoying this trust exclusively to this day...
In 2002, China joined the WTO, and commercial banks moved towards establishing modern financial enterprises. In order to adapt to the new situation of financial reform and opening up, CITIC Bank officially launched the pace of reform and listing in 2005 and successfully entered the capital market in 2007. It is worth mentioning that CITIC Bank's IPO has also left a strong mark in the capital market.
The issuance and listing of CITIC Bank has set a record of faster time for stock reform and listing among its peers, and has also set a number of records such as low price sensitivity and high pricing levels. During the listing period, CITIC Bank showed its innovative style again, which attracted high attention and sought after by domestic and foreign investors, and triggered a huge market response. The issuance price-to-book ratio was as high as 2.84 times and the price-to-earnings ratio was as high as 39 times. The issuance valuation level exceeded that of all Chinese banks listed at that time. A shares and H shares raised a total of approximately RMB 44.836 billion (excluding listing issuance fees), writing a new chapter in the listing and issuance of Chinese companies. The successful listing of
has given wings to the development of CITIC Bank. As of the end of 2016, CITIC Bank (consolidated) had total assets of 5.93 trillion yuan, with operating income of 153.78 billion yuan and net profit of 41.63 billion yuan that year. 1,424 business outlets have been established in 138 large and medium-sized cities in the country, with 58,000 employees.
For CITIC Bank, the records of continuous accumulation, surpassing and breaking through itself over the past 30 years are more like an encouragement in progress. In addition to being happy, it turns into a new starting point and embarks on a new journey.
The original intention is for the industry. It has been backed by the "Brothers Company"
30 years and has adhered to its original intention of serving the industry, but has never fought alone.
, which was presented to the banking industry and customers before the 18-year-old coming-of-age ceremony, has always been called CITIC Industrial Bank.
"As a bank named after the word "industry" at its birth, CITIC Bank has always hoped that industry will serve the country. For 30 years, CITIC Bank has always kept its original intention." An old employee of CITIC Bank who has been performing duties for more than 20 years said, "There was no idea of a virtual economy at that time, and the purpose of establishing this bank was to support the development of the industry."
In fact, there is no need to be crowned. After decades or decades of precipitation, the best commercial banks have their own halo. "Company banks are the characteristics of CITIC Bank, just like retail to China Merchants Bank, peers to industrial business, and small and micro to people's livelihood." In the eyes of banking industry insiders, "among the medium-sized national commercial banks, CITIC Bank's corporate banks have always been the "industry number one", and this strong market position can be extended to multiple segment indicators."
CITIC Bank's strong position in the field of corporate business is related to its precise and efficient customer screening. It is understood that CITIC Bank's corporate business customers focus on "big industries, big customers, big projects and high-end customers".
"CITIC Bank does not only serve the above-mentioned large enterprises, but serves the financial ecosystem with the above-mentioned large enterprises as the core." A person from CITIC Bank said, "In the ecosystem, there must be one or several core enterprises, which may be manufacturing or platform. The ecological chain of manufacturing enterprises has procurement upstream and sales downstream; there is no sales relationship between the ecological chains of platform enterprises, but some enterprises rely on the platform to exist, thus forming an ecosystem. In the ecosystem, there are large, medium, small, and micro enterprises, and there are even personal customers and end consumers." In the eyes of many banking industry insiders, CITIC Bank's success, especially the success of corporate business, is one of which is related to my country's economic development in the past 30 years, which is also an important support for the rapid development of China's financial industry in the past 30 years; the other is related to the support of CITIC Group.
CITIC Group is called "China GE" by the investment community and is one of the few fully licensed financial holding companies in China. CITIC Group itself is a financial and industrial group, and has market advantages in several sub-sectors. In terms of the financial field, CITIC Group has made great achievements in the four sub-industry: securities, fund , trust and futures; in terms of the industrial field, CITIC Group's holding subsidiaries in multiple fields are industry leaders.
Relying on CITIC Group's full licensed financial platform, CITIC Bank's ability to provide comprehensive financing services to corporate customers has been significantly enhanced. In 2016, CITIC Bank and its financial subsidiaries jointly provided different financial products and services to 456 companies, covering bond underwriting, mergers and acquisitions loans, equity investment, financial leasing, funds, etc., with a financing scale of more than 586 billion yuan. In addition, CITIC Bank and China International Economic Consulting Company , CITIC Securities , CITIC Environment, CITIC Construction and others formed the "CITIC PPP Consortium" to connect with more than 100 key PPP projects in various provinces and cities. The CITIC Joint Fleet led by CITIC Bank has signed strategic cooperation agreements with multiple local governments, providing more than 300 billion yuan in intention financing for more than 20 local governments; the balance of products of the custodian group's subsidiaries is 713.8 billion yuan.
It is worth mentioning that leveraging the advantages of corporate business and rewarding the real economy does not mean that CITIC Bank has chosen to walk on one leg. In July 2014, CITIC Bank, which is known for its traditional corporate business, re-examined the market environment, customer needs and its own development, officially launched a secondary transformation of its retail strategy, and made every effort to plan for "big retail". As of the end of 2016, the value contribution of CITIC Bank's retail banking has increased rapidly, with the revenue share of the retail sector increasing by 6.1 percentage points compared with 2014; the production capacity of outlets has increased rapidly, with the average network managing assets of 1.028 billion yuan, an increase of 14%.
Innovation is on the road. Transformation has goals.
The road to innovation is endless, but it does not hinder the implementation of small goals down-to-earth.
Looking at the development history of CITIC Bank, "innovation" is rooted in CITIC Bank's culture and a powerful driving force for the continuous and rapid development of banks.CITIC Bank has inherited and carried forward the CITIC people's tradition of "daring to innovate" and has written a gorgeous chapter in the history of China's financial development with its own practical actions. Starting from taking the lead in carrying out international financial trading business and issuing public bonds to the United States first, CITIC Bank has kept up with the pace of the times, grasped the policy direction, boldly innovated, and was brave in practice, and successfully obtained a large number of business pilot qualifications; established a product innovation management committee, and established business innovation mechanisms such as green approval channels, up-and-down elimination system, and gold idea seminar system, and product innovation has released great vitality.
To this day, many businesses have become the advantageous products that CITIC Bank is proud of, and have become a "big single product" with strong customer acquisition capabilities, high business contributions, good brand effect and easy to copy and promote. CITIC Bank's brand influence has rapidly increased. For example, the release of the "Transaction +" brand has opened up the market. As of the end of 2016, the number of transaction bank customers reached 337,000, and the number of transactions exceeded 52 million; "Government Comprehensive Finance" has obtained more than 400 financial agency business qualifications at all levels, achieving full coverage of all provincial treasury centralized collection and payment qualifications and local treasury cash management pilot areas; "Asset custody" remains the leading position, and as of the end of 2016, the scale of public fund custody ranked first in the joint-stock banks; the operating efficiency of credit cards hit a new high, and obtained intermediate income of 17.7 billion yuan in 2016.
In terms of Internet financial innovation, Baixin Bank was officially approved for establishment, opening a new chapter of innovative development of "financial + Internet"; CITIC Bank jointly with 12 national joint-stock commercial banks to initiate the establishment of the "Commercial Bank Online Finance Alliance" to seize the commanding heights of Internet finance.
is different from the never-ending business innovation. CITIC Bank has also formulated clear plans for itself at different stages of development, deepened structural adjustments, and worked hard to move towards its goals. During the 13th Five-Year Plan period, CITIC Bank will focus on the strategic guidance of "one center, two orientations, three major sectors, four major goals, five positioning, and six fulcrums", take reform and innovation as the driving force, adhere to coordinated development of efficiency, quality and scale, and strive to build a comprehensive financing service bank with distinct business characteristics, outstanding profitability, good asset quality, and leading key areas.
Specifically, "one center" means insisting on customer-centricity; "two orientations" means value creation and light development (light capital and light assets); "three major sectors" means forming three business segments and profit points of the company's banking sector, retail banking sector, and financial market sector; "four major goals" means striving to achieve four strategic goals, including core business goals, structural adjustment goals, customer expansion goals, and channel construction goals, and being at the forefront of competition; "five positionings" means adhering to the company's large customers, mid-to-high-end retail, and wide coverage of interbanks, and adhering to the "one body and two wings" with corporate banks as the main body, retail banks and financial markets as the two wings as the two wings. Business positioning, adhere to the regional positioning of Beijing-Tianjin-Hebei, the Belt and Road, the Yangtze River Economic Belt, and Beijing, Shanghai, Guangzhou and Shenzhen, adhere to the industry positioning of new economy, service industry and strategic emerging industries, adhere to the channel positioning of diversified physical outlets, mobile electronic channels, and platformization of third-party channels; the "six fulcrums" are based on the CITIC platform to implement the integrated business strategy; take large single products as the leader to implement the characteristic business strategy; take large asset management as the starting point to implement the intermediate business development strategy; take Internet finance as the breakthrough point to implement the channel integration strategy; take the internationalization of the RMB as the opportunity to implement the international business strategy; focus on innovation system reform, and implement the innovation-driven strategy.
30 years, CITIC Bank has always kept pace with the main theme of the development of the times and industry innovation, aimed at the financial needs in China's economic transformation and upgrading, took the initiative and continued to innovate, and continuously conveyed financial blood to economic development. Now CITIC Bank, which is at its thirty, is more mature, steady and more relaxed. CITIC Bank will continue to explore the development path of new joint-stock banks that are compatible with the new normal of the economy and market-oriented reforms, be a responsible corporate citizen, and contribute to a beautiful China.
Story 1:
CITIC Bank's "Car Selling Record":
1 for every 10 new cars sold in
"Last year, more than 24 million passenger cars were sold nationwide, which is about 4 trillion yuan in a year. Among them, CITIC Bank's financing scale exceeded 400 billion yuan, which means that more than one-tenth of new car sales were carried out through CITIC Bank's financing; in addition, there are about 26,000 to 27,000 4S stores nationwide, and CITIC Bank cooperates with about 4,000, accounting for about 15%. "When talking about the marketing data of the "big single product" of CITIC Bank's corporate business, CITIC Bank's product manager is extremely proud of his tone.
The automobile industry is a powerful weapon. Commercial banks naturally attach great importance to financial support for the development of the automobile industry, and CITIC Bank is undoubtedly the leader. The bank's Guangzhou branch has maintained almost "zero bad luck" while repeatedly "timely help".
Auto manufacturing industry is an important pillar of Guangzhou’s industry. In the first quarter of 2017, the output value of Guangzhou's automobile manufacturing industry was 112.9 billion yuan, a year-on-year increase of 22.1%, contributing 93.5% to the city's industrial growth. Although Guangzhou Automobile Group Passenger Car Co., Ltd. has grown into a national car brand with sales of 370,000 units in 2016, recalling the financing difficulties at the beginning of its establishment, GAC Passenger Car General Manager Yu Jun still remembers it fresh - due to fierce market competition, in 2011, GAC Trumpchi sold only 17,000 units; in 2012, the sales were only 34,000 units.
In the most difficult 2012, after inspecting the feasibility of the project and the company's financial situation, CITIC Bank Guangzhou Branch decisively continued to provide GAC Passenger Vehicle credit support of 1 billion yuan, which can be used for current asset loans and fixed asset loans. At that time, CITIC Bank once became the only loan bank for GAC Passenger Cars. In recent years, with the growth of GAC Trumpchi's sales scale, the financing demand for its downstream dealers has become increasingly large. This year, CITIC Bank Guangzhou Branch and GAC Trumpchi officially launched a car dealer inventory financing cooperation. The bank also plans to adjust the GAC Trumpchi Auto Finance online credit limit from 500 million yuan to 2.5 billion yuan.
In addition, CITIC Bank's support for new energy vehicles can also be said to be a full-dimensional one.
In recent years, the country has been encouraging the new energy vehicle industry. However, the new energy vehicle manufacturing industry is a technology-intensive and capital-intensive enterprise. Especially for new energy buses, since most terminal customers have a long procurement approval cycle, the financial pressure of enterprises can be imagined.
is optimistic about the merger of Yinlong New Energy Co., Ltd. (referred to as Zhuhai Yinlong), which is popular among Dong Mingzhu , is committed to building a closed circulation industrial chain for new energy with the supply of lithium battery materials, the research and development, production and sales of lithium batteries as the core, and extending to electric vehicle powertrains and complete vehicles. CITIC Bank Guangzhou Branch tailored financing service plans based on the actual situation of Zhuhai Yinlong. The relevant person in charge of the bank's Hengqin Branch said, "From the development of the enterprise itself, achieving economies of scale by controlling costs and increasing production capacity is very important for reducing costs, and the bank will naturally do its best to support it." Wei Yincang , chairman of Zhuhai Yinlong, said, "CITIC Bank is the commercial bank with the greatest support and the highest efficiency in service. The newly approved credit limit in May this year was 27.6 billion yuan, which can ensure the company's expansion and achieve the annual sales target of 30 billion yuan."
new energy vehicles are regarded as a new opportunity for China's automobile industry to overtake. However, short range, few charging equipment and long charging time are the biggest pain points of the current application of new energy vehicles.
Guangdong Wancheng Wan Charging Vehicle Operation Co., Ltd. is an enterprise integrating electric vehicle investment and operation and charging network construction and operation, and is also one of the earliest companies to make charging piles. Wancheng Wanchong is also one of the credited customers of CITIC Bank’s Guangzhou Branch and has received comprehensive financing service support from CITIC Bank’s full process.
, Chairman and CEO of Wancheng Wanchong, who has worked in the energy industry for 30 years, mentioned that Wancheng Wanchong has dealt with many banks, and only CITIC Bank has carried out embedded comprehensive cooperation for them in financing, settlement, retail and other business fields.
It is understood that in recent years, CITIC Bank has integrated payment settlement, cash management, asset custody and other service fields around the most urgent and common needs of customers in the automotive industry, and relied on the advantages of CITIC Group's full financial license, and proposed a "transaction +" service brand, from factoring, orders, commercial ticket financing upstream of the industrial chain, to full-range product services for core manufacturers, as well as inventory procurement financing, medium- and long-term financing, used car transaction financing, group cash management and various investment and financial management businesses on the automobile sales side, and ultimately extended the service to automobile consumer credit business. At present, CITIC Bank has established a total-to-to-to-to-to-to-cooperation relationship with about 70 brand manufacturers, with cumulative financing of more than 3 trillion yuan and cumulative loans to individual customers of nearly 50 billion yuan.
Story 2:
CITIC Bank's "High-speed Railway Smelting Record":
transfusion of 400 billion yuan of blood to the basic industry of Inner Mongolia Autonomous Region
"Woo!..." At 10:18 on August 3, with a whistle, the D6980 train departed on time from Hohhot East Station . This not only marks the official opening of the Zhanghu high-speed railway (Zhangjiakou to Hohhot) Ulanqab to Hohhot eastern section, but also marks the official entry of the Inner Mongolia Autonomous Region into the high-speed railway era since then. It is worth mentioning that in the high-speed railway built in the Inner Mongolia Autonomous Region, CITIC Bank Hohhot Branch innovated its financing model and provided 10 billion yuan in financial support, setting an example for its financial peers.
In 2016, Inner Mongolia's total economic output was close to 1.9 trillion yuan, ranking in the middle reaches of the country, with per capita GDP exceeding US$10,000, and infrastructure has been significantly improved. Modern infrastructure network systems such as railways, highways, aviation, municipalities, water conservancy, energy, and information and communication are becoming increasingly sound. This beautiful report card also contains the "continuous writing" of CITIC Bank.
If you want to be rich, you should build roads first. However, infrastructure projects generally have large funding gaps and long financing periods. Traditional bank credit business and debt financing models are difficult to solve their financing problems.
The answer from CITIC Bank Hohhot Branch was to cooperate with the government to establish an industrial investment fund, and to combine equity and debt financing services to transfusion local infrastructure projects.
Assistant General Manager of the Investment Bank and Interbank Department of CITIC Bank Hohhot Branch said that as of the end of 2016, the fund had been implemented, with a total scale of nearly 50 billion yuan, including 6 billion yuan of Baotou Grassland Silk Road Construction Fund, serving the construction of the "Belt and Road" and so on.
Relevant person in charge of Hohhot Transportation Investment Co., Ltd. said, "The construction of rail transit projects requires a lot of funds. Government investment alone is far from enough. More social funds are needed. The bank has played an important role here. Hohhot Metro Line 2 Phase I project also attracted many financial institutions and investors through the rail transit fund program project, alleviating nearly 80% of the funding problem of the project."
CITIC Bank was associated with the Inner Mongolia Grassland in 2007. According to staff of CITIC Bank Hohhot Branch, CITIC Bank Hohhot Branch is the first provincial branch established by CITIC Bank in ethnic minority areas. It now has 53 secondary branches in Baotou, Ordos , Chifeng HTML, 34 business outlets, nearly 1,000 employees, and various businesses are operated in joint-stock commercial banks, and are in the leading position for many years.
In recent years, CITIC Bank has invested about 400 billion yuan in major projects such as transportation, energy, manufacturing, urban infrastructure construction, water conservancy, and people's livelihood projects in the Inner Mongolia Autonomous Region. As of the first half of 2017, approximately 17 billion yuan was invested in key projects. There are 16 key projects around the "Seven Networks" plan being promoted by the Inner Mongolia Autonomous Region, with a total project amount of 68.4 billion yuan. Among them, 3 projects are supported, with a total project amount of 33.1 billion yuan; 10 energy network construction projects are supported, with a total project amount of 28.605 billion yuan; 2 projects are supported, with a total project amount of 6.16 billion yuan; 1 municipal construction project is supported, with a total project amount of 500 million yuan.
Story 3:
"unicorn" development record:
CITIC Bank Finance
helps " Zhubajie.com " butterfly transformation
has grown from more than 100 people five years ago to nearly 5,000 employees now. From being predicted by venture capital to growing into a "unicorn" enterprise with a valuation of over 10 billion yuan, Zhubajie.com has created its own excitement. It is worth mentioning that behind the wonderful scenes, financial support is indispensable - CITIC Bank Headquarters and Chongqing Branch have been anxious about the urgent needs of customers for many years, and have moved side by side with Zhubajie.com and become its sponsor bank to provide multi-dimensional financing services.
In 2006, Zhu Mingyue, who was the chief reporter of a certain evening newspaper, founded Zhubajie.com, a service crowdsourcing platform, covering six categories: brand creativity, product manufacturing, software development, enterprise management, corporate marketing, and personal life, providing entrepreneurs with one-stop enterprise full life cycle services. Today, Zhubajie.com has 5 million Chinese and foreign employers and 10 million service providers, with a market share of more than 80%.
However, even today's "unicorns" are mostly in a difficult situation during the start-up period. In 2007, a large international venture capital company had contacted Zhubajie. Venture Capital decided that Zhubajie's model would not last long; in April 2011, the venture capital company came to Chongqing again and found that Zhubajie was not only alive, but also endured all its competitors until they were eliminated and became the first in the industry. It immediately decided to invest in A Series A US$6.66 million. This fund was tantamount to the timely help of Zhubajie.com at that time. At that time, Zhubajie.com had only more than 100 employees, and the survival problems had not been solved.
However, due to the very strict capital foreign exchange settlement policy, many daily expenses such as salary and rent of Zhubajie.com's employees cannot use this fund in time, and the company is extremely anxious. After learning about the difficulties of the company, CITIC Bank Chongqing Branch immediately contacted various branches, actively prepared materials, and led customers to strive for the understanding and support of the management department. At the same time, patiently guided the company to provide more supporting information on compliance with policies and meet standards and supervise the standards... After a series of efforts, CITIC Bank finally assisted the company in resolving the survival crisis, and the intimate relationship between the two parties also increased from banks and customers to mutual trust partners.
In 2015, the general managers of various management departments of CITIC Bank Chongqing Branch went to Zhubajie.com for investigation. After learning about the company in detail, he decisively suggested that Zhubajie.com implement a light capital investment expansion strategy next. This suggestion coincides with Zhu Mingyue's idea. On the other hand, the C round of financing funds of Zhubajie.com coincided with the country's policy call for "mass entrepreneurship and innovation". Zhubajie.com thus established a "vertical industry" and "industrial chain" incubation park around the main categories, forming an offline service capacity matrix across the country. At the same time, CITIC Bank continued to have in-depth exchanges with Zhubajie.com to discuss the development trends and prospects of Internet companies. Through the collaboration of various branches, Zhubajie.com opened the basic accounts of incubation park companies in cities in CITIC Bank, and gradually launched in-depth cooperation such as salary payment, incubation park company account opening, and customer resource sharing.
With the entry of multiple rounds of venture capital, Zhu Bajie will put the listing on the agenda in the second half of 2015. CITIC Securities, a sister unit of CITIC Bank, defeated many competitors and successfully became a listing guidance broker for Zhubajie.com. Since then, Zhu Bajie raised the financing needs for senior executives to hold shares. CITIC Bank worked with CITIC Shenzhen and CITIC Trust to integrate resources to achieve the purpose of legality, compliance and strict risk control. The project was finally approved, setting a precedent for employee shareholding financing projects for non-listed companies. This is also another successful case of CITIC Group's "Brothers Company" collaboratively serving customers. (Fan Dong)
