23943 - BCCB

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Summary of Proposed Investment

Project Number

23943

Company Name

Bank of Beijing Co., Ltd.

Date SPI Disclosed

Nov 24, 2004

Country

China

Industry

Financial Markets

Projected Board Date

Dec 28, 2004

Status

Active

Sector

Commercial Banking - General

Department

Global Industry, Financial Markets

Environmental Category

Previous Events

Approved : Apr 6, 2005
Signed : May 20, 2005
Invested : Oct 21, 2005

Project Description

Beijing City Commercial Bank (BCCB) was established in 1996 as a city-level joint-stock commercial bank. It currently has over 3,600 employees and a network of 116 outlets throughout Beijing. BCCB is the second largest among the 112 city commercial banks in China in terms of total assets. This project will strengthen BCCB’s capital base, assist the bank to introduce international standards and practice, and to become a competitive regional player in the medium future. BCCB has been approved to change its name to Bank of Beijing Co., Ltd., effective from January 1, 2005.-

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	57.87

Development Impact

This project is likely to create a strong demonstration impact by facilitating the modernization and strategic development of a highly visible city commercial bank in China’s capital city. Through improved corporate governance, efficiencies and stronger operating performance resulting from the introduction of international best practices, BCCB could become a model institution for other banks to emulate, and influence other domestic banks to improve their operating practices and policies. The growth of city commercial banks is a key part of China’s strategy of reducing the dominance of the big four state owned banks and of increasing competition in the sector. The success of this project, therefore, could play a role in shaping the future operating environment of the banking sector in China and particularly in the Beijing region, as the regulators are now planning to allow the stronger city commercial banks to expand beyond their city borders.

This is a category FI Type 1 project according to IFC''s environmental and social review procedure. BCCB will be required to establish an environmental management system to ensure that activities financed under relevant operations are consistent with applicable environmental, occupational health and safety regulations of China and IFC''s Exclusion List, designate appropriate individuals who will have responsibility for the environment and who will attend IFC''s environmental management workshops or an approved equivalent, and submit to IFC an environmental management plan and annual environmental performance reports.
Location of environmental documents In locally affected community

Contacts

For Inquiries About the Project, Contact

Mr. Chenggang Wu, Senior Investment OfficerInternational Finance CorporationGlobal Financial Markets Departmentcjwu@ifc.org

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

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