COMPANY China Minsheng Banking Corporation, Ltd.
BRAND VALUE US$3.1 Billion
YEAR-ON-YEAR CHANGE -10%
YEAR FORMED 1996
Minsheng Bank continued to implement its strategy of becoming the bank for privately owned companies, what it terms NSOEs (Non-State Owned Enterprises), and small and micro businesses, what it terms MSEs (Middle and Small Enterprises). It also pursued business with high wealth individuals. The bank had over 12,000 NSOE customers at the end of June 2014.
To develop its NSOE business, the bank launched new cash management products and features customized for geographic regions. In its retail business, the bank increased its private banking customers by over 11 percent in the first six months of 2014.
Founded in 1996, China Minsheng Banking Corporation Ltd. was listed on the Shanghai Stock Exchange in 2003, and on the Hong Kong Exchange in 2009.
For the first half of 2014, net income increased 12 percent to $4.1 billion on revenue of $19.0 billion, a 9 percent rise. Net income rose 16 percent to $6.9 billion on revenue of $35.5 billion for the full year 2013, a 25 percent increase.