BoCom targets growth in credit cards
THE Bank of Communications targets a double-digit growth in the credit card business next year as it rides on China's strong economic recovery, a senior official of the lender said yesterday in Shanghai.
"We target a stable growth in China next year," said Vincent Chiang, chief executive officer of the bank's credit card center. But he didn't reveal a specific growth figure.
The Shanghai-based lender has issued more than 14 million credit cards so far since the middle of 2005, when the bank started the business with partner HSBC.
The two parties are awaiting regulatory approval to set up a 2.5 billion yuan (US$366 million) credit card joint venture in Shanghai, Chiang said, declining to give a timetable. BoCom will hold 80 percent of the joint venture with HSBC taking the remainder.
BoCom has also teamed up with merchants such as Bailian Group and airlines by issuing co-branded cards to attract more customers as it came into the China credit card market relatively late. The bank now occupies 9 percent of the domestic credit card market.
"We target a stable growth in China next year," said Vincent Chiang, chief executive officer of the bank's credit card center. But he didn't reveal a specific growth figure.
The Shanghai-based lender has issued more than 14 million credit cards so far since the middle of 2005, when the bank started the business with partner HSBC.
The two parties are awaiting regulatory approval to set up a 2.5 billion yuan (US$366 million) credit card joint venture in Shanghai, Chiang said, declining to give a timetable. BoCom will hold 80 percent of the joint venture with HSBC taking the remainder.
BoCom has also teamed up with merchants such as Bailian Group and airlines by issuing co-branded cards to attract more customers as it came into the China credit card market relatively late. The bank now occupies 9 percent of the domestic credit card market.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.