Introduction of BCQ
As the earliest local joint-stock commercial bank in West China and the upper reaches of Yangtze River, Bank of Chongqing was established in 1996 as Chongqing City Cooperative Bank, jointly funded by 37 urban credit cooperatives or credit unions, 10 local financial bureaus and 39 enterprises or public institutions. In March 1998, approved by the People’s Bank of China, the Bank was renamed Chongqing Commercial Bank Co., Ltd. In August 2007, with the approval of China Banking Regulatory Commission (CBRC), the Bank changed its name to Bank of Chongqing Co., Ltd.
Since its founding 23 years ago, Bank of Chongqing, under the proper guidance of Chongqing Municipal CPC Committee and Municipal Government, strong endorsement of Chongqing State-owned Assets Supervision and Administration Commission, PBOC Chongqing Operation Office, CBRC Chongqing Bureau, etc. and with the support of public communities and clients, Bank of Chongqing has gradually grown into a “Small & Excellent” commercial bank with optimized business structure, high asset quality, great profitability and promising development potential, of which the position and the influence are increasingly promoted in West China and nationwide..
As of the end of 2017, the Group’s total assets amounted to RMB422,763.03 million, representing an increase of 13.3% as compared with the end of last year; the balance of deposits amounted to RMB238,704.68 million, representing an increase of 4.0% as compared with the end of last year; the net loans amounted to RMB172,162.09 million, representing an increase of 17.3% as compared with the end of last year; the net profit amounted to RMB3,764.20 million in 2017, representing an increase of 7.5% as compared with last year, and the non-performing loans provision coverage was 210.16%, realizing the preservation and appreciation of state-owned assets and shareholders’ equity.
The Bank became the first batch selected as the investment targets of “Shenzhen-Hong Kong Stock Connect”, being one of the only three city commercial banks out of 417 selected enterprises. In the ranking from the Banker magazine of UK in 2017, the Bank ranked the 250th, up by 87 places as compared with last year.