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Foreign Currency
Wealth Management Embraces the “Blossom Era”
----Xiamen International Bank Offers Wealth
Management Product Series of “Foreign Currency
Accounts Linked with Exchange Rate or Interest
Rate”. |
Foreign Currency Wealth Management
embraces the “Blossom Era” in Xiamen. Yesterday,
following the state-owned and joint-stock banks
in Xiamen, Xiamen International Bank, a Sino-foreign
joint venture bank, became the first such bank
to offer comprehensive product series on foreign
currency wealth management, i.e., “Foreign Currency
Accounts Linked with Exchange Rate or Interest
Rate”.
It is reported that Xiamen International Bank
had conducted market experiments on the above-mentioned
product series, which brought positive market
response from enthusiastic investors. Following
that, the bank offers another three products,
namely products with “step-by-step rising yields”,
“target yields” and “day-by-day returns”, with
minimum investment of USD 1,000. These products
are characterized by risk-free principals and
high potential of yields.
According to Xiamen International Bank, the
bank will provide rich varieties of product
series on foreign currency wealth management.
Besides the existing three interest-rate-linked
products, the bank has also developed wealth
management products linked with exchange rate,
bond price, fund price, and gold price, etc.,
which will be launched when necessary. The bank
also provides tailor-made foreign currency wealth
management schemes according to the risk-taking
capacity and fund situation of the customers,
allowing customers with abundant fund and strong
risking-taking capacity to choose options that
suit their own needs. Unlike other banks that
absorb funds at regular intervals, the bank
accepts entrustment of foreign currency wealth
management every day, which gives more convenience
to the customers.
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The Bills Processing
Center of Xiamen International Bankwas put into
official run. |
China News Agency, December 2:
The Bills Processing Center of Xiamen International
Bank, China’s first Sino-foreign joint venture
bank, was put into official run on December
1st, 2003, making the bank a leading runner
among Mainland banks in China to realize centralized
processing of international settlement business.According
to news from Xiamen International Bank today,
in recent years, commercial banks are vigorously
developing intermediary banking businesses such
as international settlement business, which
has become a significant source of profits.
However, the complexity of the approving (or
examination) procedures for international settlement
business has pushed commercial banks to establish
bills processing centers in order to reduce
labor costs, avoid repeated investment, and
to realize centralized management and unified
risk control.To cope with the trend, Xiamen
International Bank developed its centralized
bills processing system on the basis of its
successful integration of the account management
for the bank’s core businesses in April. The
bills processing system adopts a three-layer
logical structure based on the open and mature
J2EE technology as well as the superior application
server platform, making it not only a safe and
efficient system, but also flexible, easy to
transplant, and responsive to changes and new
demands.
As early as September 2001, Xiamen International
Bank had been known as the first mainland bank
to obtain ISO 9001 accreditation for international
settlement businesses. With the success of its
centralized bills processing center, the bank
outstands again among its peers in China.
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Personal Banking
Services Center Inaugurated |
 The
Personal Banking Services Center of Xiamen International
Bank was inaugurated yesterday. Mr. Chen walked
into the services center and made an investment
deposit with the bank. He was thus luckily become
the first customer of the first personal banking
services center opened in Mainland China by
foreign-funded banks.
Early last year, Xiamen International Bank took
the lead to be granted the license by the People’s
Bank of China for full-range foreign exchange
business, which means with respect to foreign
exchange deposits and withdrawal, the bank can
not only serve corporations in and out of China,
but also residents in the and out of the country.
According to the time table of financial liberalization
committed by China on its entry into the WTO,
by the end of this year, foreign-funded banks
in Xiamen will be further granted the license
for RMB businesses serving Chinese Mainland
residents. With the establishment of the personal
banking services center, obviously Xiamen International
Bank will continue to be the leading runner
in this field.
Mr. Chen was very excited when he commented,
“what we are concerned is not where to put our
money, but how to make our deposits gain value.”
The investment deposit which Mr. Chen had made
with the bank is a product newly introduced
into Xiamen International Bank.
 To
go with the inauguration, Xiamen International
Bank had presented two new products including
off-shore deposits and investment deposits.
The former mainly aims at Chinese from Hong
Kong, Macau and Taiwan, other overseas Chinese
and foreign individuals having businesses in
Mainland China. The latter serves mainly Chinese
citizens with foreign exchange sources, including
relations of overseas Chinese. It is expected
that the personal banking services center will
provide even wider range of services to foreign
and domestic citizens including deposits and
withdrawal, financing, settlement, financial
consultation and wealth management.
（Xiamen Daily, 12 August 2003）
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Heads
of Xiamen International Bank visited Ho Hau
Wah
Chen Gui-Zong introduced recent development
of the Bank |
|  On
July 25th, Chairman Chen Gui-Zong, Vice Chairman
Ding Shi-Da, Executive Director and President
Lu Yao-Ming, Executive Director Yang Sheng-Ming,
Director Zhu Xue-Lun of Xiamen International
Bank (XIB), and Executive Director and General
Manager Ip Kai-Ming, Director and Deputy General
Manager Jiao Yun-Di of Luso International
Banking Ltd. (LIB) paid a special visit to
Mr. Edmund Ho Hau Wah, Chief Executive of
Macao Special Administrative Region.
The Directors expressed their sincere gratitude
for Mr. Ho’s reception. Chairman Chen Gui-Zong
of Xiamen International Bank introduced the
development of the bank in recent years, and
expressed that the deepening financial reform
in China had provided the bank with room to
apply for new businesses and to establish
new branches. The bank would take the opportunities
to accelerate development, expand capital
base, enhance asset quality and business returns,
and strive to become one of the excellent
banks in China.
LIB Executive Director and General Manager
Mr. Ip Kai-Ming also introduced to Mr. Ho
the business operation of LIB. LIB has gradually
stepped out of the valley floor since the
financial crisis in 1999. In 2002, LIB also
increased its capital from MOP 151.5 million
to MOP 300 million, indicating investor’s
confidence on the future of Macao and the
business growth of LIB in Macao.
Chief Executive Mr. Ho spoke positively of
LIB’s contribution to Macao’s economy and
financial development over the past two decades.
The attendants undertook that LIB would consistently
support and cooperate with the MSAR Government,
as it had always been, and strive to contribute
to Macao’s better and more prosperous future.
Finally, Chairman Chen warmly invited Mr.
Ho to visit Xiamen International Bank when
he visits Xiamen.
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Xiamen
International Bank – After-tax Profit Outstands
among Foreign Banks with Chinese Legal Body
2002.06.05 |
| China News Agency
Reported by: Yang Fushan
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| As shown on the bank’s 2002
annual report, Xiamen International Bank had
achieved notable business results last year,
with consolidated after-tax profit reaching
HKD 115 million, a 65% increase over the previous
year. The bank outstands among foreign banks
with Chinese legal body.
Xiamen International Bank reveals today that
business results recorded in the newly issued
annual report were exciting. According to
its financial report audited by the PricewaterhouseCoopers
Zhong Tian CPA Co., Ltd, the deposits balance
of 2002 rose by 13% over the same period last
year, loans outstanding increased by 7%, and
the total assets reached HKD9.746 billion.
Meanwhile, the asset quality has improved
remarkably.
With head office in Xiamen, Xiamen International
Bank is the first joint venture bank in China.
Since its establishment 17 years ago, the
bank has realized profits every year on the
basis of sufficient provisioning. For 5 consecutive
years, the bank has been the only foreign
bank with legal body in China to be listed
among Top 1000 Banks in the World by the internationally
renowned The Banker magazine. It has also
been honored the top taxpayers in Fujian Province
for several consecutive years, and ranked
top among foreign and joint venture banks
in Xiamen in terms of accumulated tax paid.
According to the bank, Xiamen International
Bank is among the first banks in Mainland
China to adopt international accounting standards
and to practice ten-category loan classifications
system, and the first bank in Mainland China
to acquire ISO 9001 accreditation for its
international settlement business. In 2001,
the bank recorded after-tax profit of HKD
69.77 million, and two-digit growth in deposits
and loans businesses in Mainland China, as
well as marked improvement in asset quality.
On the basis of the achievements in 2001,
the bank maintained the momentum of rapid
growth in last year, and became the first
foreign and joint venture bank to be granted
the license for foreign exchange business
to Chinese citizens. The bank offers a series
of products and services such as agreement
deposits, auto-converting accounts, foreign
currency investment deposits, factoring, company
fax services, etc, which are much welcomed
by the customers.
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Xiamen
International Bank, the first bank permitted
by the People's Bank of China to offer full-range
foreign currency services to the clients including
domestic residents in Mainland China
2002.03.06 |
Xiamen International Bank was permitted by the
People's Bank of China on Mar. 4 2002,to offer
full-range foreign currency services to the
clients including domestic residents in Mainland
China .
Thus
it became the first financial joint venture
that obtained the license for offering foreign
currency services to domestic residents since
the new Regulations of the People’s Republic
of China Governing Financial Institutions with
Foreign Capital was promulgated on Feb. 1 2002.
According
to the new Regulations, XIB met the registered
capital requirement for offering full-range
foreign currency services, therefore it was
permitted to extend the services to domestic
residents. It also meant an expansion of the
clients, including Chinese and foreign enterprises,
organizations and representative offices from
the foreign country, Hong Kong, Macau, Taiwan,
residents of Mainland China, Hong Kong, Macau,
Taiwan, and foreign countries. The permission
of foreign banks engaging in these services
indicates a material progress in the open policy
for the banking sector of China, within the
WTO framework.
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Xiamen International
Bank, the first bank in Mainland China to be
awarded the ISO9001 certification in international
settlement service
2001.09.24 |
On Sep. 24, 2001, the international
settlement service of XIB passed the ISO9001
authentication process successfully, and gained
the certificates awarded by CQC and DNV at the
same time. Thus XIB became the first bank in
Mainland China to be awarded the ISO9001
certification in international settlement service.
The establishment and authentication
of the quality management system signified the
management ideology and the service quality
have leaped onto a higher level and achieve
the international standard. By pushing through
a scientific, systematic and documentation ISO9001
system, XIB will offer clients safer, more efficient
and more accurate services and hold on our service
principle that Clients' satisfaction is first.
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v Xiamen
International
Bank was listed among Top 1000 Banks Worldwide
in three successive years
2001.08.01 |
The rank of Top 1000 Banks
Worldwide appraised by The Bankers
had come out and XIB was listed on it once again.
With first tier capital of USD 154 million,
XIB ranked the 939th.
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