On November 24, IB signed a strategic cooperation agreement with HNA Group in Haikou. IB planned to offer credit extension of RMB 30 billion as well as all-round and diversified financial service to HNA Group. Huang Qijun, director and CEO of HNA Group and Xue Hefeng, IB’s Deputy Governor attended the signing ceremony.
Guided by national “going out” strategy, both sides will take this strategic cooperation agreement as a new starting point, and deepen cooperation upon investment banking, cash management, industrial fund, financial leasing, domestic and foreign merger and acquisition business, international settlement, project financing etc.
Huang Qijun introduced that this year HNA Group will seek where national strategy and company development meet, seize strategic opportunities including the “Belt and Road” and FTZ, push forward internationalization, tap and store a batch of overseas merger and acquisition projects that meet development strategies, and co-exploit space for development together with professional banks with strength.
According to the agreement, IB will focus on internationalization development strategy of HNA Group, and provide comprehensive financial services in five aspects, namely, bond underwriting and subscription, private placement of listed companies, domestic merger and acquisition fund, overseas loan under domestic guarantee and asset securitization.
After years of development, IB has become a modern bank-based financial services group engaged in trust, lease, fund, futures, consumer finance, asset management, research and consulting and digital finance with assets of over RMB 5.7 trillion, ranking 195th among Fortune Global 500 and is also among top 50 global banks. “Relying on multi-license and group-based business advantages, it will make more market-oriented innovations, improve its service, and support prudent development of HNA Group with better financial services.” Xue Hefeng said.
Since HNA Group was founded over 20 years ago, it has grown into a large multinational enterprise group rapidly. In 2016, its business revenue reached $29.56 billion, ranking 353rd on Fortune Global 500; self-owned assets exceeded RMB 600 billion; assets under management was nearly RMB 400 billion. It holds shares of 11 listed companies, and HNA Group was graded the highest international AAA corporate credit rating by Dagong Global.