On May 28, 2019, Mr. Jiangtao Sun, Founder of CBiBank and Mr. Sam Su, Chairman of Board of Directors of CBiBank visited headquarter of Royal Business Bank (hereinafter referred to as the "RBB"), the strategic partner of CBiBank in Los Angeles. They made in-depth talk with Mr. Allen Tian, President of RBB and Mr. Simon Feng, EVP of RBB on their further cooperation plan.
From left to right: Simon Feng, EVP of RBB, Jiangtao Sun, Founder CBiBank, Allen Tian, President of RBB, Sam Su, Chairman of Board of Directors of CBiBank
RBB, a NASDAQ-listed bank, ranking among the top community Banks in the United States
RBB is a bank that serves US based Chinese businesses in the United States, a unique market that has the most frequent trade with Pacific Rim countries. The company also provides home loans and small business loans. The size and structure of the RBB allows the company to serve customers who need a higher loan line.
RBB established its headquarter in Los Angeles, California in November 2008 and was listed on NASDAQ in 2017. As of July 2017, Royal Business Bank has 15 branches, covering Chinese communities in southern California. In addition to opening branches, RBB has successfully completed acquisitions of First Asia bank in Las Vegas, Van Dura Commercial Bank, World Chinese Merchant Bank and Acer Bank.
According to public data, the total assets of RBB exceeded $1.5 billion in March 2017, and the total capital of the bank reached $216 million, making it a powerful American community bank. In 2017, S&P Global Market Intelligence ranked RBB as the second best-run community bank.
CBiBank management visited RBB, one of its first strategic partners
In February 2019, RBB officially cooperated with CBiBank, one of the world's first private Internet Banks, establishing a deposit account that it is expected to be the beginning of long lasting relationship including additional banking services.. In the past four months, the cooperation between RBB and CBiBank has been progressing smoothly and has been gradually carried out at various levels. On April 4, the two Banks jointly hosted the "3rd Yale Fintech Forum" in Yale university, which was a great success and highly recognized by the participants including regulators, bankers and Yale professors.
Based on RBB and CBiBank’s successful cooperation, on May 28, Mr. Jiangtao Sun, Founder of CBiBank and Mr. Sam Su, Chairman of Board of Directors visited the headquarter of RBB in Los Angeles.
As a highly reputable and powerful bank in the United States, RBB is also very serious about selecting business partners. During the meeting, Allen Tian said: "As a listed bank, RBB's business needs to ensure strict compliance with regulatory requirements at all levels and that we are very careful about selecting of both upstream and downstream partners."
Jiangtao Sun replied: "CBiBank is RBB trusted business partner. CBiBank shares the same value with RBB. For example, we implement the most strict standards on KYC, to ensure that all risks are eliminated at the very first time. We will also meet with regulators regularly and report the progress of CBiBank face to face."
As to the next cooperation path, Jiangtao Sun and Allen Tian agreed that the two banks were walking on the right direction and will continue to explore more possibilities of cooperation, to provide customers with safe, convenient and professional international banking service and pave a new approach of international banking services for clients.