CCB Intermediary Business Revenue Hit a New High in the First Quarter

Debit card, Swift Remit and securities services are major pillars of the intermediary business profit.

In the first quarter of this year, the revenue from China Construction Bank (CCB) intermediary services hit a historical high, an increase of 57% over the previous year. Debit card service, Swift Remit and securities services are major pillars of the intermediary business profit, accounting for 88.22% of the revenue of personal banking intermediary services.

In the first quarter, CCB coordinated marketing efforts on the peak season to offer preferential policies for using CCB Long Cards and Swift Remittance. Meanwhile, CCB also provided convenient cross-bank trade services for other banks cardholders at CCB’s self-service terminals including 13,000 ATMs and thousands of POS throughout the country to promote the development of using cards, depositing and withdrawing cash in different locations. By the end of this March, CCB’s Long debit cards issued had reached 154,700,000, an increase of 5,260,000 cards over the early stage of this year, up 4,770,000 cards or 50% over the same period of last year. Swift Remit is CCB’s personal electronic remittance brand and has received the recognition among bank clients. During this Spring Festival, CCB offered remittance services to lots of clients. And in the first quarter, the remittance transactions amount reached 8,800,000, with the volume of RMB 122.831 billion, an increase of 25.9% over the same period of last year.

During the period of stagnancy in the first quarter, CCB overcame the disadvantages of the stock market to launch the low-risk money market fund at a right time. CCB sold 3 funds as the agent bank, with the total sale volume of RMB 2.103 billion, accounting for 28% of the market. In addition, CCB sold RMB 4.9 billion of the certificate treasury bonds and redeemed RMB 3.8 billion of the certificate treasury bonds upon maturity.