Nanyang Commercial Bank

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]

Nanyang Commercial Bank
南洋商業銀行
Nanyang Commercial Bank branch in Kennedy Town, Hong Kong
Location
WebsiteOfficial website
Nanyang Commercial Bank
Traditional Chinese南洋商業銀行

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 new fintech 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.
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