On the evening of December 16, the Industrial Bank announced that its board of directors had resolved to establish a non-bank subsidiary in Hong Kong - IB International Holdings Limited. This further indicates that the Industrial Bank has accelerated the process of group-oriented development by establishing 2 subsidiaries, IB Research and IB Digital Financial, in the year.
In recent years, it has become an important direction for the transformation of commercial banks to engage in the field of non-banking business and enhance the comprehensive financial services capabilities. As an active pioneer in the field of integrated financial services, the Industrial Bank has become one of the domestic commercial banks with the most financial licenses, and its development results are highly recognized by mainstream media. On December 17, the 9th Annual Conference of Institutional Investors and Cicada Award, organized by China Times, granted Annual Financial Holding Group Award 2015 to the Industrial Bank.
From establishment of IB Financial Leasing, a wholly-owned subsidiary in 2010, to that of IB Digital Financial Information Services Limited, the Industrial Bank has accelerated its comprehensive group-oriented operation, and an Industrial financial holdings territory with clear structure and complete license has surfaced. The Bank now has Industrial Trust, Industrial Leasing, Industrial Fund, IB Consumer Finance, IB Futures, Industrial Asset management, IB Wealth Management and IB Research with business licenses of eight major categories, four subsidiaries under its direct control (wholly owned), five subsidiaries under its indirect control, investment in shares of five companies, thus forming a banking-focused comprehensive financial services group that covers trust, financial leasing, funds, consumer finance, futures, asset management and research and consulting.
"Now we have good cards in hand." Wang Shengqian, GM of IB Research and Planning Department talked about the overall situation of group-oriented comprehensive operation of the Bank. How exactly to play "the cards"? IB's answer is to promote business development from the top-level design and implementation level, and transform from "individual operation" to "group operation". In respect of top-level design, the group-oriented development has been deemed as an important strategy for the whole bank, and it has been made clear to center on customers, establish cross-market and cross-license comprehensive management system, and encourage subsidiaries to play group advantage in their respective fields, eventually becoming an influential mainstream brand. At the operational level, by leveraging the development of urbanization finance, environmental finance, pension finance, integrated services for small and medium banks and nonbank financial institutions, capital market direct financing services, investment and custody services on asset management and transaction bank, it intends to promote synergistic interaction between the bank and its subsidiaries.
Currently, various group members of the Industrial Bank have maintained a good momentum of development, while some subsidiaries have emerged as the first group among the non-banking sectors. As of the end of September, Industrial Trust has assets under management amounting to 928.847 billion yuan, ranking top 5 in domestic trust industry with a net profit of 1.1 billion yuan; Industrial Lease has a total assets of 106.111 billion yuan, and net profit in the first three quarters reached 933 million yuan, the scale of business leading the second batch of pilot financial leasing companies; Industrial Fund has assets under management amounting to 331.627 billion yuan, ranked No.19 among domestic fund companies; and the special account of fund subsidiary ranked No. 6 at the first echelon, the overall profitability of its publicly offered funds ranked No.2 in the industry in the third quarter; IB consumer finance company was founded last year, and now has a total assets of 3.081 billion and loan balance of 1.795 billion; Industrial Economic Research Advisory Co., the first "banking system" research company was officially opened with increased market visibility...
The financial holding group strategy of IB is more than just that. At present, the bank is actively applying for the establishment of professional custody financial services body in the FTA test area with separate license, and launched company-oriented restructuring research of banking assets management, striving to become the first batch of pilot banks.
"In the future, we will apply for securities and insurance licenses, set up comprehensive or specialized financial services institutions abroad through acquisitions or establishment, to build a full license integrated management system.” Chen Xinjian, the vice president of IB indicated at a press conference on the theme of comprehensive operation.