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Baoshang Bank

Baoshang Bank

About bank

Baoshang Bank Limited(hereinafter referred to as "the Bank" or "Baoshang Bank"), formally established in December 1998, is the first joint-stock commercial bank headquartered in Inner Mongolia Autonomous Region. Formerly known as Baotou City Commercial Bank, the Bank changed its name to Baoshang Bank upon the approval of China Banking Regulatory Commission in September 2007. The Bank currently has 14 branches in Inner Mongolia region and four other major cities:Beijing, Ningbo, Shenzhen and Chengdu, with a total of 105 outlets and more than 6,000 employees. Besides, the Bank established Damao County Baoshang Benefit Farmer Finance Company and set up 27 rural banks in Changping District of Beijing, Jinnan District of Tianjin, Jinzhou District of Dalian, Wugang city of Hubei Province, Juancheng County of Shandong Province, Nantong city of Jiangsu Province, etc. By the end of 2011, the total assets of Baoshang Bank has grown to 178.3bn, whilst the balance of deposits has reached 114.3bn; the balance of loans has reached 46.1bn; the balance of non-performing loans was RMB 209mn based on the five-level classification, with a non-performing loans rate of 0.45%. Baoshang Bank is one of the first seven city commercial banks that received grade-2 risk rating from China Banking Regulation Commission (CBRC). In the last few years, the Bank has maintained the level of grade-2. In 2011, Li Zhenxi, Chairman of Baoshang Bank, won "CCTV Economic Figure of the Year 2011" Annual Public Welfare Award; Baoshang Bank won the second prize of "Nationwide City Commercial Banks' Competitive Strength Ranking 2010 (asset size greater than 100bn)" and was awarded "China's Best Growing City Commercial Bank in 2010" by The Chinese Banker magazine; In the fourth "China's Most Respected Bank and Best Retail Bank Poll", Baoshang Bank was awarded "China's Most Potential Retail Bank", "Best City Commercial Bank" and "Best Financial Management Brand"; The Bank was named as one of the 2011 Top 10 Commercial Banks in Support of the Development of SMEs of China jointly by the Chinese Small and Medium-sized Commercial Enterprise Association and the organizing committee of the Annual Meeting of Chinese Leaders of SMEs. In recent years, Baoshang Bank has received widespread media attention and praise. Famous programs of CCTV such as "Dialogue", "Face the Economic Hotspots" and "Economic Information Broadcast", Internal Reference of Xinhua News Agency, and newspapers such as "People's Daily", "Economic Daily" and "China Business News" have made intensive coverage for Baoshang Bank's small business financing service. First, unswervingly implement the "1-3-5" management model. In recent years, Baoshang Bank has firmly established the enterprise spirit of "learning, innovation, integrity and development", constantly emancipated the mind, forged ahead and spared no effort. "Winning the Market by Magnanimous Heart" being its core philosophy, Baoshang Bank has established the "1-3-5" management model with the strategic vision of "To Become a Modern, World-Class and High-Quality Bank", the strategic objective of "Comprehensive Financial Service Provider", the development target of "To Be a Booster for Public Entrepreneur, To Become a Brand of International Bank and To Emerge as the Best Integrated Financial Service Provider for Small Enterprises". The "1-3-5" model takes "internationalization" as its standard, pays close attention to "material civilization, institutional civilization and spiritual civilization", and continuously improves the "operation, management, innovation, corporate culture and financial ecology". Second, sparing no efforts in building a unique brand of small business finance. Baoshang Bank abandoned the traditional credit concept, seized opportunities and took the initiative in December 2005 to introduce advanced international small business credit technology. Considering the "six mechanisms" of small business loans issued by China Banking Regulatory Commission, Baoshang Bank established Micro Business Finance Department and Small Business Finance Department on the basis of market segment, set up a small business loan mechanism that is really suitable for China's SMEs financing, gradually formed its own core competence in the field of small business finance, and explored a development path that is distinctive and unique. Through the use of the three machines "recruitment, training and lending" and by taking full advantage of its technological superiority in small business financial services, Baoshang Bank steadily and efficiently carried out micro-business and small business financial services. The Bank has formed a professional small business financial service team of more than 1,800 members, launched five series, fifteen products to cater the need of small business, individual business, farmers and herdsmen, and fulfilled the R & D of 30 kinds of products, such as guaranteed loans, revolving credit, etc. to promote the development of small business. Currently, small business loans issued by Baoshang Bank have accumulated to 134.5 billion yuan, with 8884 being its greatest record of micro-business loan issued. In total, the Bank has provided loans for more than 80,000 small businesses, individual businesses, farmers and herdsmen, supporting the employment, entrepreneurship and business expansion of hundreds of thousands of people. Third, work hard to contribute to local economic and social development. Baoshang Bank has always taken supporting local economic and social development as its primary task, always adheres to the credit policy of "Taking from the local place and giving back to the local place", brings finance into full play in supporting local economic and social development, and provides financial services for more micro and small enterprises through new type of small business loan service, effectively improving the small business financing in the coverage of Baoshang Bank's operation. The Bank actively cooperated with the government and guarantee company, launched a re-employment loan for laid-off workers and directed the loans to distribution industry and service industry such as trade, catering and handicraft, effectively backing the employment and re-employment work. Meanwhile, Baoshang Bank actively builds the headquarters economy, and strives to become a great taxpayer in the autonomous region. The Bank's taxation expense for 2011 is 1.03 billion yuan and it has paid a total of 2.75 billion yuan taxes since its foundation, making positive contribution to local economic and social development.