Nanyang Commercial Bank

Nanyang Commercial Bank

南洋商業銀行
Nanyang Commercial Bank Building
Formation	14 December 1949; 75 years ago (1949-12-14)
Location	Hong Kong
Website	ncb.com.hk

Nanyang Commercial Bank
Traditional Chinese	南洋商業銀行
Transcriptions Yue: Cantonese Yale Romanization Nàahm yèuhng sēung yihp ngàhn hòhng Jyutping Naam4 joeng4 soeng1 jip6 ngan4 hong4

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 33 branches, 3 Commercial Business Centres and 4 Cross-border Wealth Management Centres. 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

1. "Profile at NCB official website".
2. "NCB Profile". Nanyang Commercial Bank. Retrieved 14 January 2019.
3. "BOCHK realises HK$30 billion profit from Nanyang sale". South China Morning Post.
4. "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

• Official website