How it started
History
Bank of Tianjin was founded on 6 November 1996 as Tianjin City Co-operative Bank to serve the local communities of the city. In May 1998 the bank was renamed to Tianjin City Commercial Bank.
In March 2007, the bank's name was yet again changed to Bank of Tianjin. This was after receiving foreign direct investment of US$111.4 million from Australian based banking giant, ANZ Group. This gave ANZ group a 20% stake in Bank of Tianjin. The same year saw the bank expand its operations into Beijing.
March 2016 saw the bank list H shares on the Hong Kong Stock exchange after an IPO that was led by BOC International, ABC International and CCB International. The bank raised US$950 million in the public offering short of the US$1.23 billion that the bank was initially targeting. After the IPO, the bank was caught in a $122 million fraud incident at its Shanghai branch. Agricultural Bank of China was said to be investigating a similar incident
From Wikipedia’s article on Bank of Tianjin, shared under CC BY-SA 4.0.2