Nanjing City Commercial Bank (NCCB) and BNP Paribas conclude their partnership:
- BNP Paribas acquires from several shareholders a 19.2% shareholding in NCCB and becomes therefore the second largest shareholder in NCCB;
- BNP Paribas and NCCB establish a close cooperation in certain operational areas, including retail banking, fixed-income transactions, consumer finance, wealth management, risk management, information technology and organisation.
In the context of this cooperation, NCCB and Cetelem have just signed a partnership agreement. This partnership is the opportunity for Cetelem to appear among the first foreign players of consumer finance in the Chinese market.
About Nanjing City Commercial Bank
NCCB is located in the capital city of the Jiangsu province in Eastern China, approximately 300 km north-west of Shanghai. NCCB is the 8th largest city commercial bank in China, with total assets of RMB 42.7 bn (US$ 5.3 bn), a loan portfolio of RMB 22.5 bn (US$ 2.8 bn), and RMB 35 bn (US$ 4.3 bn) in deposits (as of end of September 2005). The NCCB network comprises 58 branches in the city of Nanjing and employs nearly 1 500 people. It is active in corporate lending, trade finance, mortgage lending as well as securities dealing.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United States and leading positions in Asia. BNP Paribas is the first bank in the Euro zone in terms of net income (2004). The group has one of the largest international banking networks, a presence in over 85 countries and employs more than 105 000 employees, including approximately 80,000 in Europe. BNP Paribas enjoys key positions in its three core businesses: Corporate and Investment Banking, Asset management & Services and Retail Banking.