Related News
Xiamen International Bank expects dramatic growth
By Zhang Fengming |
January 19, 2009, Monday
|
Online Edition
Online Edition
XIAMEN International Bank expects its onshore business to grow by up to 40 percent this year and will not slow its expansion despite the cooling economy, a senior banker said in Shanghai today.
The bank based in Xiamen, Fujian Province, expects deposits, lending and profits to grow by 35 to 40 percent this year, said Zheng Wei, deputy general manager of the bank, today in Shanghai.
The bank's net profits rose to 400 million yuan (US$58.74 million) in 2008, about 30 percent more than the previous year.
"The financial crisis not only brings challenges but opportunities as well," Zheng told Shanghai Daily today. "We will focus on merger and acquisition financing this year as M&A activities will pick up and authorities gives the go-ahead for credit to such transactions."
The China Banking Regulatory Commission last year approved banks to issue credit to M&A activities for the first time.
"Our bank, unlike the bigger players, is still in its growing stage. That's why we will keep expansion despite the financial crisis," he said.
The bank will add new six to 10 outlets in existing markets such as Beijing and Shanghai this year, Zheng said.
The bank based in Xiamen, Fujian Province, expects deposits, lending and profits to grow by 35 to 40 percent this year, said Zheng Wei, deputy general manager of the bank, today in Shanghai.
The bank's net profits rose to 400 million yuan (US$58.74 million) in 2008, about 30 percent more than the previous year.
"The financial crisis not only brings challenges but opportunities as well," Zheng told Shanghai Daily today. "We will focus on merger and acquisition financing this year as M&A activities will pick up and authorities gives the go-ahead for credit to such transactions."
The China Banking Regulatory Commission last year approved banks to issue credit to M&A activities for the first time.
"Our bank, unlike the bigger players, is still in its growing stage. That's why we will keep expansion despite the financial crisis," he said.
The bank will add new six to 10 outlets in existing markets such as Beijing and Shanghai this year, Zheng said.
- 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.
