The brief introduction of Weifang City Commercial Bank

Weifang City Commercial Bank, is an independent corporation, in possession of 1080 employees, 17 departments and 42 branches, which was founded in August, 1997.

In the past ten years, Weifang City Commercial Bank has experienced a developing road, which began from Separate Corporation to Independent Corporation, from extensive operation to intensive operation. Especially, since the issuance of new shares in 2002, the bank has been adhering to the management concept of “developed by culture, enriched by efficiency, established by specialty and consolidated by regulation”; promoting the enterprise spirit of “servicing for Weifang and the whole world”.

Profiting from the above mentioned, we have turned into a quick and steady developing road, and been recognized as a special-operated and cultural brand-protruded local corporation. Up to the end of 2006, the total capital of the bank has reached RMB 18.3 billion with an increase of RMB 3.5 billion than the beginning of the year, deposits balance have reached RMB 15.1 billion, increasing by 21% than last year, and loans balance have reached RMB 10.7 billion, increasing by 25% than last year. The operating profit has reached RMB 260 million with an increase of 34% than last year. The bank had the honor to win “Advanced Unit of Enterprise Cultural Construction of China” both in 2005 and 2006, and win “the Excellent Enterprise of China” in 2006, ascended the top 500 in the line of service, and appraised as “the advanced enterprise of implementing excellent performance mode” and “the top ten cultural brands of Weifang”.

1. Promoting corporation governance, providing protection of institution. In the light of modern corporation system, the bank constructs the framework mainly composed of general meeting of shareholders, board of directors, board of supervisors and senior management. Completed and promoted relevant rules of organization, rules of procedure, decision-making procedure, operation regulation and working system. Shaped corporation governance mechanism of clear duty and balance power, completed regulation and orderly operation.

2. Expanding the scale of business, and solidifying the foundation for development

All the time, based on the guiding ideology of “expanding the scale of business, improving efficiency, enhancing quality, and preparing for list on”, we promoted stable development and reached great achievement. We completed the core business indicators of property, deposits, loans and profit, improved the operating quality and enhanced the profitability. Up to the end of 2006, the bank had strove to won the third place in deposits balance which had broken through 5 billion yuan in all banks of Weifang City through organizing the deposits system in earnest. Since 2003, the scale of deposits has continued to be over of the Bank of Communications, Postal Saving, Bank of China, and the Bank of Construction and the market share of deposits gradually expanded. We exert ourselves to replace and transfer the non-operation assets which solved many historical problems impeding the progress. The bank had changed to be of high quality, advanced management and excellent image from a company bearing payment risk.

3. Strengthening the bank’s marketing operating, enhancing credit business

As a local financial institution, the bank is responsible for the economical development of hometown under the premise of providing service for small and medium enterprise, all citizens, and local economy. Playing a due rule of rapid decision-making and flexible operating, the bank keep servicing for program of important enterprise, target market, constructing characteristic branches, implementing credit business. With efficient and flexible service, the bank consolidates the position in small and medium enterprises. The bank wins high praise and appreciation from all walks of life.

4. Improving creativity, enhancing service quality

Based on the market-oriented and customer-centered philosophy, the bank has changed the operating concept of product-center to the customer-center, transferred the operating mode of individual operations to a variety of integrated and coordinated operations, and diversified the operating type of a simple extensive operation to integrated marketing intensive operation. These years, in accordance with the demand of market and customers, the bank has created the new businesses such as confirming store, preservation store, joint insurance loans, legal unit’s overdraft, buyers’ interest payment discounted bills, non-financing commit letter, reserving purchase which have won high praise. At present, the bank has included three kinds of corporate business and four kinds of individual business. The bank who owned abundant personal financial products has become the most active one in the banks of Weifang. In order to enhance the quality of service, the bank initiates and organizes the club of Jinding, and establishes the customers’ service department, which aims at supplying the good services for important clients.

5. Improving inner reform and perfecting the operating mechanism

Focusing on setting up a good mechanism, the bank has taken a series of measures to enforce the inner reform in human resource, performance, remuneration and education. In human engineering, the bank insists that everyone has advantages but the suitable is needed. By implementing the institution of competition for position with the principle of more attention on achievements, the bank has set up a market-oriented mechanism for inner human flowing. In remuneration, the bank advocates the performance distribution (basic + proportion + bonus) based on achievements. The management system of classification to employees and branch-managers   has created a fair field for competition. Through the mechanism of “racing horses” (The more you work, the more you earn), the bank has established the system of evaluation of performance which applies to all branches and departments. Through “963” internal training program with pertinence, systematization and normalization, the employees’ abilities was continuously improved. Cooperating with Peking University, the bank offers MBA course for Mid-level manages, which prepares human resources for development. With ceaseless efforts, the bank has formed a competitive operational mechanism according with WCCB’s facts, which stimulates the employees’ enthusiasm and drives the development. At the same time, in order to continuously perfect the inner control system, the bank’s inner-control committee founded the system of early-warning, inquiry, rotation of important posts. Through the publicity of “no deficiency”, rotation of manager on duty and evaluation of inferior work, the system of inner-control, under flat management and adjust to the development of the bank, has formed.

6. Advocating the reorientation of enterprise culture. In the past years, the bank attached high importance to constructing dense cultural atmosphere in all segments of marketing and management, reoriented the enterprise culture and influenced the concept and behavior of all employees with special enterprise spirit, market orientation, service idea and the style of work so as to agglomerate constant impetus for the enterprise’s development. Based on club of Jingding, with the appreciation to society, the bank always emphasized the construction of all kinds of culture carriers; enforced the publicity of enterprise culture. Resent years, through sodality of “shuangbai”, forum of Jinding and warm marketing, the bank’s cultural construction of enterprise has made another success. The bank is a real residents’ bank. In the bank, through holding various recreation and sport, the bank owns the strong power from employees to develop. The bank’s construction of enterprise culture has achieved the high prize level and great honor from leaders of government and all circles of society.