Bank of Kunlun Co., Ltd. (hereinafter referred to as “Bank of Kunlun” or “the Bank”) formerly named Karamay City Commercial Bank, was controlled by China National Petroleum Corporation (CNPC) through subscription of new capital in April 2009. The Bank’s capital was increased from RMB 180 million to RMB 3.1 billion. Total assets of the Bank reached to RMB 21.6 billion by the end of 2009. In the year of 2010, the Bank’s capital was doubled to RMB 6 billion, and total assets reached RMB 50 billion by further injection of CNPC. The Bank was also renamed Bank of Kunlun in April 2010, which is approved by China Banking Regulatory Commission (CBRC). The message of Kunlun — great momentum — injects great brand values into the Bank.
At the new historical starting point, the Bank establishes the development concept of “High Starting Point, Rapid Development and Sustainable Development”, clarifies the development strategy of “Integration of industry and Finance” and formulates the development layout of “Basing in Xinjiang, Relying on Petroleum, Facing the Whole Country and Going Global”. The Bank is committed to becoming an outstanding bank rendering distinctive comprehensive services with its main client groups of large state-owned enterprises, upstream and downstream enterprises of petroleum and petrochemical industry chain, oil workers, and family members in mining areas. The Bank’s successful starting to operate Daqing branch indicates a historical step of the Bank towards a new stage- inter-regional operation. Bank of Kunlun has more flexibility to allocate resources on a larger scale. Its financial service function of boosting economic development appears more apparently.
Bank of Kunlun is now improving its corporate governance, strengthening the management foundation, enhancing risk management, focusing on internal control environment, and expanding operating business. It represents a leap-forward development trend, and major indicators maintain on a level of excellence. Relying on petroleum and petrochemical energy industry, the characteristics of the Bank’s business has shown initial scale. Serving in the petroleum and petrochemical industrial chain and trading financing model has become the norm of the Bank. Oriented to central enterprises and other high-end customers, the syndicated loan business expands in multiple markets. Facing regionalized fund management of oil companies, the Bank provides centralized management of fund clearing, settlement and guarantees services. Combined with payroll agency services, the Bank provides diversified high value-added financial services. Combined with the improvement of mine construction and housing conditions of workers, the Bank carries out a variety of individual housing loans and property development loans. In line with oil and gas terminal sales strategy, the strategy of construction of large petrochemical base, the storage port terminal building strategies, the Bank actively provides financial services to upstream and downstream customers. Combined with the gas station network, the Bank has already started the strategic project of building the settlement, credit, fueling- all in one "Kunlun Card".
Up to now, the Bank established branches and subsidiaries in Karamy, Dushanzi, Urumqi, Korla, Tuha, Daqing and Xi’an, and Beijing, Shenyang, Ha’ erbin, Chengdu branches are in preparation. Through providing featured business and financial service, the Bank supports oil and gas owners’ development, contributes to local economic development and provides convenient services for local residents.