The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Zhu Min, Bank of China: What China’s banks have learned from the crisis

In an exclusive interview with Euromoney Zhu Min, group executive vice president at Bank of China, talks about lessons learned from the financial crisis, the limitations of Basle II, and reforming the bank’s risk management.

The financial crisis has led most of the world’s financial institutions to re-examine their risk management procedures. As you look to continue reforms at Bank of China, what can be learned from the problems others have faced?

We were to a certain degree immune from the crisis not because we had better risk management but because we had a more vanilla business model focusing on loans—

But there were some losses, of around $1 billion. Did your strategic investors RBS and UBS influence your decision to invest in sub-prime CDOs?

No, I don’t think so. Only 2.37% of our total investment portfolio at the start of the crisis was in sub-prime related assets. This has been a great learning experience for us, during the past 18 months we have completely rebuilt our market risk management system. We have seen some issues in the market to try and avoid, and RBS and UBS have sent us people to help with that process.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree