China CITIC Bank International (; CNCBI in short) is a

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

full-service

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

. China CITIC Bank Corporation Limited, via its wholly-owned subsidiary CITIC International Financial Holdings Limited, is CNCBI's controlling shareholder with a 75% stake. The CITIC Group Corporation of Beijing is CNCBI's ultimate parent company. , CNCBI had 24 branches and two business banking centres in Hong Kong, as well as presence in various international locations. CNCBI's total assets stood at HK$489.30 billion.

History

In 1926 ''Ka Wah Savings Bank Limited'' (

Traditional Chinese A tradition is a system of beliefs or behaviors (folk custom) passed down within a group of people or society with symbolic meaning or special significance with origins in the past. A component of cultural expressions and folklore, common examp ...

: 嘉華儲蓄銀行有限公司) was founded in Hong Kong. ''Ka Wah Ngan Ho'' in Guangzhou then became Ka Wah Savings Bank's Guangzhou Branch. That same year the bank was renamed as ''Ka Wah Bank Public Limited Company'' (

: 嘉華銀行公眾有限公司). In 1986 the bank suffered financial difficulties, and

CITIC Group CITIC Group Corporation Ltd., formerly the China International Trust Investment Corporation (CITIC), is a state-owned investment company of the People's Republic of China, established by Rong Yiren in 1979 with the approval of Deng Xiaoping. ...

injected HK$350 million capital into the bank. In 1998 the bank was renamed as ''CITIC Ka Wah Bank Limited''. In 2002 CITIC Ka Wah Bank was

privatized Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation w ...

by CITIC International Financial Holdings and it became a whole-owned

subsidiary A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidia ...

of CITIC International Financial Holdings.A Brief Overview of CITIC Ka Wah Bank
In May 2010, the bank was renamed again as ''China CITIC Bank International''. In 2018, CNCBI launched its mobile banking platform inMotion.

References

{{CITIC Banks established in 1998 Banks of Hong Kong CITIC Group Companies formerly listed on the Hong Kong Stock Exchange