SWIFT Code BKNBCN2NXXX: An introduction to Bank of Ningbo

The history of the Bank of Ningbo can be traced back to April 10, 1997, when it was formed by a combination of 17 urban credit unions, one urban credit cooperative union, and four offices in Ningbo. In the early years of its establishment, the Bank faced many challenges, including an unstable shareholder structure, shareholders defaulting on the payment of registered capital, and a high level of non-performing loans. in 1999, the Bank's net assets had been negative, and the ratio of non-performing loans was as high as 27.22%, making the business situation very severe.

In 2000, the Bank of Ningbo began to implement a series of reforms. from 2001 to 2006, the Bank completed three capital increases, successively introduced Ningbo Electric Power Development Company, Yagor Group and other state-owned and private enterprises as shareholders in order to optimize the capital structure. Meanwhile, the Bank of Ningbo took small and medium-sized enterprises (SMEs) in the Yangtze River Delta region as its main target customers and gradually digested its historical burdens by writing off non-performing assets every year. By 2004, the Bank's debt was reduced from 1.2 billion yuan to more than 100 million yuan, and its operating conditions improved significantly.

On July 19, 2007, Bank of Ningbo was successfully listed on the Shenzhen Stock Exchange, becoming one of the first listed city commercial banks in China. After the listing, Bank of Ningbo accelerated its business expansion nationwide. Bank of Ningbo has continued to promote management innovation and financial technology innovation, optimize its business structure and build a diversified profit center, including corporate banking, retail banking, credit card and financial market. At the same time, the Bank actively cultivates small and micro finance, and improves its financial service capability for SMEs through organizational structure changes and talent training.

After years of steady development, Bank of Ningbo has set up branches in Beijing, Shanghai, Shenzhen, Hangzhou and other places, forming a more complete business layout. As of the end of 2023, Bank of Ningbo's total assets reached RMB 2,711,662 million, and it has made remarkable achievements in fintech and serMain Businesses of Bank of Ningbo. 

 

Bank of Ningbo's business covers a wide range of areas, including corporate banking, personal banking and financial markets, and has formed a diversified business system by expanding its market through financial technology innovation and subsidiary businesses.

2. Consumer Banking

In retail finance, Bank of Ningbo provides a wide range of credit services such as personal consumption loans, credit cards, housing loans, etc. to meet the capital needs of individual customers. Meanwhile, the Bank carries out a wide range of businesses in the wealth management field, including the distribution of funds, insurance and wealth management products, providing customers with diversified asset allocation options.

Bank of Ningbo's financial market business mainly involves interbank business, investment business and asset management. In terms of interbank business, the Bank carries out interbank lending and financial bond issuance, and strengthens cooperation with other financial institutions. In terms of investment business, the Bank actively participates in market activities such as government bonds and investment in financial assets in order to optimize asset allocation and enhance returns. Meanwhile, through its subsidiary Ningbo Bank Wealth Management and other professional organizations, the Bank provides asset management services and offers professional investment solutions to institutional and individual customers.

As a leading city commercial bank in China, Bank of Ningbo has a strong market share and competitiveness in the domestic market, especially in the Yangtze River Delta region. Although its international business is relatively small, it is gradually expanding its international market through cooperation with foreign banks.

As of 2024, Bank of Ningbo's national market share is approximately 12.86% and maintains an annualized growth rate of 7.33%, showing that its market expansion is faster than the industry average. Specifically by region, Bank of Ningbo's loan market share in Ningbo is as high as 13.00%, which is much higher than the share of other city banks in their headquarters cities. In other prefecture-level cities in Zhejiang Province, Bank of Ningbo's market share was about 1.6%, up 0.9 percentage points from the end of 2017. And in Jiangsu province, the Bank's market share was about 1.1%, up 0.3 percentage points from the end of 2017.

In addition to Zhejiang and Jiangsu, Bank of Ningbo's market share in other core cities is also growing steadily. As of 2022 figures, the Bank's market share of loans in Shanghai and Shenzhen both amounted to 0.45%, and 0.28% in Beijing, gradually expanding its national business layout.

Bank of Ningbo's business is still mainly focused on the domestic market, with a low direct market share in the international market. However, the Bank has gradually participated in global financial business through its strategic cooperation with OCBC Bank in Singapore, especially in the expansion of cross-border finance and financial technology. Currently, the Bank's internationalization business is mainly in the form of foreign investment cooperation and cross-border financial services, and has yet to form a significant overseas market share.

Bank of Ningbo is in a leading position among China's city commercial banks, especially in the Yangtze River Delta region with strong market influence. Through the implementation of the “One Body, Two Wings” strategy. Bank of Ningbo is expanding its business nationwide.

As of 2024, Bank of Ningbo was ranked as the No. 1 city commercial bank in China in terms of competitiveness and ranked 80th among the top 100 global banks.