Credit cards pay for BoCom
By Zhang Fengming |
July 13, 2010, Tuesday
|
Print Edition
Print Edition
THE credit card center of the Bank of Communications posted a stronger-than-expected increase in profit this year, according to a senior banker yesterday.
"The credit card center started to make profit last year and growth (in profit) was better than expected this year," said Xu Han, deputy chief executive officer of the credit card center, yesterday in Shanghai. Bur he declined to give a specific figure.
BoCom teamed up with HSBC to tap China's credit card market in the middle of 2005. The bank has issued more than 17 million of the co-branded cards so far. The two banks are also awaiting regulatory approval for their application to set up a credit card joint venture in China.
China is set to issue bank card rules which include regulations governing credit card joint ventures in the country.
Xu said that the bank's credit card non-performing rate is "far much less" than the market average of 4 percent to 5 percent in overseas markets but he declined to give a figure. The lender, dual-listed in Shanghai and Hong Kong, is China's fifth-biggest bank.
"The credit card center started to make profit last year and growth (in profit) was better than expected this year," said Xu Han, deputy chief executive officer of the credit card center, yesterday in Shanghai. Bur he declined to give a specific figure.
BoCom teamed up with HSBC to tap China's credit card market in the middle of 2005. The bank has issued more than 17 million of the co-branded cards so far. The two banks are also awaiting regulatory approval for their application to set up a credit card joint venture in China.
China is set to issue bank card rules which include regulations governing credit card joint ventures in the country.
Xu said that the bank's credit card non-performing rate is "far much less" than the market average of 4 percent to 5 percent in overseas markets but he declined to give a figure. The lender, dual-listed in Shanghai and Hong Kong, is China's fifth-biggest bank.
- 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.
