Weihai Bank Co., Ltd. Class H
9677.HK
Hong Kong Stock Exchange2.77
HKD
+0.01
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Weihai Bank Co., Ltd. Class H
9677.HK
(Hong Kong Stock Exchange)
Recent
price
2.77
P/E
ratio
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div
yld
- -
ROIC.AI
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- Business
- Weihai Bank Co., Ltd. operates as a Chinese commercial bank offering a comprehensive range of banking products and services, primarily through its corporate banking, retail banking, and financial market segments. Its main products include deposit taking, personal loans, corporate loans and advances, trade financing, personal and corporate wealth management, remittance services, debit and credit card issuance, bill discounting, fund management, guarantee services, finance leasing, and agency services. Additionally, the bank engages in inter-bank money market transactions, repurchase agreements, investment services, and debt securities trading. It provides multi-channel banking services via online, mobile, direct, telephone, WeChat banking, ATMs, and self-service machines, serving a broad customer base across regions in China. Weihai Bank was founded in 1997 and is headquartered in Weihai, Shandong Province, China. Recently, Weihai Bank has undertaken significant strategic and capital market activities to strengthen its financial foundation and expand its market presence. Key recent developments include issuing RMB 2 billion in tier-two capital bonds with a 2.6% coupon rate in October 2025 to replenish its capital base, and successfully issuing RMB 1 billion in 2025 Sci-tech Innovation Bonds aimed at funding technology and innovation-driven projects. The bank has also actively expanded its footprint by planning the opening of five new branches in underserved regions of Shandong Province in 2024 to increase its customer base by approximately 15%. The company has enhanced its technology-driven digital banking offerings, including mobile banking apps and online loan applications, which saw a 30% increase in adoption, reflecting a strategic shift towards digitization. Furthermore, Weihai Bank completed a name change from Weihai City Commercial Bank Co., Ltd. as part of its organizational reforms to support market-oriented, specialized, and digitized business transformation. The bank targets corporate clients, government agencies, financial institutions, and retail customers with tailored financial solutions. It operates under a robust organizational structure with over 3,300 employees, led by CEO Wenbin Zhang as of September 2024. Weihai Bank emphasizes adherence to national policy directives and regional development, promoting sustainable "Green+" financial service models and a comprehensive green product system aligned with the Chinese government's initiatives. These efforts collectively position Weihai Bank as a growing regional financial institution committed to innovation, capital adequacy, and expanded market reach within China’s evolving banking sector.