CMB explores diversified business through wing Lung Bank

On 10th, at the opening ceremony of the Macao branch of Wing Lung Bank in Hong Kong, MA, president of China Merchants Bank, summed up the results of the acquisition of Wing Lung Bank for more than two years with "first success". The practice proved that CMB's strategic choice was correct, he said.　　Through the two lines of close cooperation, not only to expand the cross-border business of this new profit growth point, the bank can also use wing lung to explore diversified management for future market reforms to accumulate experience. Guo Zhihai, general manager of the Macao branch of Wing Lung Bank, said that apart from Macao's local business, wing Lung Bank Macao Branch will work with the Portuguese-language Bank of Macao to serve the Sino-Portuguese economic and trade exchanges. After the establishment of the Zhuhai branch of the Merchants Bank, the bank will jointly provide financial support for the development of the new zone.　　Macao residents of the renminbi financial needs are very strong, they will be legal compliance under the premise as soon as possible "golden sunflower" high-end financial services into Macau.　　According to the data, at the end of September, the total assets of the wing Lung bank grew by 13.3%, the capital adequacy ratio was 14.28%, the non-performing rate was 0.49%, and the net profit increased by 39%. Wing Lung Bank president Zhu revealed that over the past two years, the bank's expansion in the city, in Hong Kong opened 5 branches, and the CMB to implement internal and external linkage, cross sales, its profit growth, asset quality, scale expansion, etc. to achieve the ideal strategic requirements.　　He believes that the average annual growth of more than 30% of the earnings of wing Lung Bank should be no problem. "At present in the business model wing Lung and the Merchants bank to achieve three combination." Zhu said that the first is a combination of domestic and foreign business, the second is the combination of foreign currency business, and the third is the combination of investment banking and commercial banking business.　　This year, wing Lung Bank has become the 12 Hong Kong listed Companies IPO collection Bank, these enterprises are quality customers of the CMB and listed in Hong Kong. "The acquisition of the wing Lung Bank not only brings business growth. Ma said that wing Lung bank includes securities, trusts, futures, finance, insurance and other wholly-owned subsidiaries. Through cooperation with the wing Lung Bank, CMB can explore integrated management. The marketization of interest rates in Hong Kong is the trend of the future development of the mainland financial industry.　　Wing Lung Bank in Hong Kong is different from the mainland market environment and the rules of the game, the opening of overseas outlets can be played by CMB or wing lung two cards, increase the flexibility to deal with the market. Ma says banks have many advantages in promoting integrated operations. First, the bank itself is a payment platform for all Non-bank financial institutions to exchange products through commercial banking platforms. Secondly, commercial banks have many customers, they can become funds, insurance, trust and other financial business customers. Third, in the mainland, commercial banks market brand image, credibility is very high, easier to obtain customer trust and support.