Nanyang Commercial Bank Enters into Strategic Cooperation Agreement with Fosun International

Rhea-AI Summary

Nanyang Commercial Bank (NCB) and Fosun International (HKEX: 00656) have signed a strategic cooperation agreement on April 24, 2025, marking a new milestone in their 15-year partnership that began in 2010. The agreement aims to strengthen their financial collaboration, with NCB providing comprehensive banking services to support Fosun's future development.

NCB will leverage its cross-border operations expertise while integrating with Fosun's global presence in over 35 countries. The partnership focuses on developing products and services based on complementary advantages and mutual benefits. The agreement was signed at NCB's Hong Kong headquarters, attended by key executives from both companies including Sun Jiandong, Wang Qunbin, and Gong Ping.

Positive

• Strategic partnership strengthens access to comprehensive banking services
• Expanded cross-border financial capabilities through NCB's expertise
• Enhanced product development opportunities through complementary advantages

Negative

• None.

HONG KONG, April 24, 2025 /PRNewswire/ -- On 24 April 2025, Nanyang Commercial Bank ("NCB") and Fosun International Limited ("Fosun International", HKEX stock code: 00656) entered into a strategic cooperation agreement.

Sun Jiandong, Executive Director and Acting Chief Executive of NCB, Liu Xiaoguang, Deputy Chief Executive of NCB, Stephen Chan, Deputy Chief Executive of NCB, Wang Qunbin, Executive Director and Co-Chairman of Fosun International, Gong Ping, Executive Director, Executive President and CFO of Fosun International, Zhang Houlin, Senior Vice President and Co-CFO of Fosun International, and other representatives attended the strategic cooperation signing ceremony held at NCB's headquarters in Hong Kong. The signing of this strategic cooperation marks the further cooperation between NCB and Fosun International and its subsidiaries (collectively as "Fosun"), with both parties committing to collaborate closely in support of Fosun's future development strategies.

Since their cooperation began in 2010, NCB and Fosun have worked closely together for 15 years, laying a solid foundation for cooperation. The signing of this strategic cooperation agreement today marks a new milestone in establishing a long-term, stable and in-depth financial partnership between NCB and Fosun.

NCB will fully leverage its experience in cross-border operations to provide professional banking services. By integrating these services with Fosun's globalization and industry strengths, NCB and Fosun aim to foster deeper cooperation in products and services based on complementary advantages, mutual benefits and joint development. Additionally, NCB will offer stable and comprehensive financial services to facilitate Fosun's future development.

Since its establishment in Hong Kong in 1949, NCB has adhered to the high-quality development principles of "professional operations, efficiency first, and value creation" throughout all stages and across various fields, providing customers with convenient, efficient and professional banking services through diversified channels. Rooted in China, Fosun has been developing globally and has long adhered to the two core drivers of "globalization" and "innovation". Currently, Fosun has established a business presence in more than 35 countries and regions worldwide. The 15-year cooperation journey between NCB and Fosun has laid a solid and profound foundation for both parties to move toward a deeper and closer relationship. Moving forward, NCB will continue to partner with high-quality enterprises such as Fosun, drawing on its extensive expertise and business strengths in cross-border operations. By further integrating financial technology and AI, NCB aims to leverage the advantages of its strong foothold in Hong Kong, the support from the Chinese mainland, and its global connectivity, to deepen cooperation in products and services, providing Fosun and other corporates with comprehensive and high-quality financial services that support its future development strategy and foster mutual benefits.

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SOURCE Fosun

FAQ

What are the key benefits of the NCB-Fosun International (FOSUY) strategic cooperation agreement?

The agreement enables NCB to provide comprehensive banking services to Fosun, leveraging cross-border operations expertise while integrating with Fosun's global presence. It focuses on developing products and services based on complementary advantages and mutual benefits.

How long have NCB and Fosun International (FOSUY) been working together?

NCB and Fosun International have been cooperating for 15 years, since 2010, building a solid foundation for their partnership.

What is Fosun International's (FOSUY) current global presence?

Fosun International has established business operations in more than 35 countries and regions worldwide, focusing on globalization and innovation as core drivers.

How will NCB support Fosun International's (FOSUY) future development?

NCB will provide stable and comprehensive financial services, integrate financial technology and AI, and leverage its Hong Kong presence, mainland China support, and global connectivity to support Fosun's development strategy.