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Bank of Yingkou sets up first Shenyang branch

By Wu Yong and Liu Ce (China Daily Liaoning Bureau)
Updated: 2009-06-08 17:24

The Bank of Yingkou has established its first Shenyang Branch, introducing strategic investors to Shenyang, capital of Liaoning province. The inauguration ceremony was held on June 6, marking the first branch to be opened outside Yingkou, a coastal city of Liaoning.

“The opening of Shenyang Branch is a milestone for our bank’s cross-region business. Also, it is a platform that can extend our service to the whole province and energize the development of the region,” said Liu Qingshan, board chairman and Bank of Yingkou president.

According to Nazir Razak, Chief Executive of CIMB Group Sdn Bhd, the strategic cooperator of Bank of Yingkou, CIMB has carefully studied the situation and feels the bank has a strong management and drive record, acknowledging the bank’s great potential. The two parties will cooperate in several ways in the future.

Founded in 1997, Bank of Yingkou has been successfully transformed into a regional joint-stock commercial bank with an average 25%-30% growth in operational scale. It has had the most small and medium-sized enterprise (SME) customers for six years in a row.

Cooperation between Bank of Yingkou and CIMB Group, the second biggest bank group in Malaysia, began in 2008. The group recently became the first shareholder of the bank when it purchased 19.99% of shares in April this year.