CCB Witnesses Rapid Growth of Private Financial Business in the First Half of 2005

 

According to the latest sources of CCB, since the beginning of 2005, CCB has been committed to raising the strategic importance of private banking services, intensifying the marketing efforts, controlling operational risks and advancing innovation. Up to now sound performance has been achieved. The bank’s individual savings deposit balance in both RMB and foreign currencies reaches RMB1805.6 billion, up RMB159 billion over the beginning of the year and the market share increases by 1.3 percentage points, involving an increase of RMB52.34 billion over the same period of last year. The bank has issued 157 million pieces of debit cards, 7.76 pieces of growth over the beginning of the year, and completed 6.4515 pieces of cross-bank inter-city transactions, a year-on-year growth of 42.02%. The revenue of its private intermediary services hits a historical high.

Since the beginning of this year, following the business philosophy of “customer-orientation”, CCB has held a series of in-house discussions on how to improve the quality of customer services, established the regular report system of typical cases of customer complaint and explored the accountability system on customer complaint, which has helped raise the customer service quality to a new level.

While offering quality services to customers, CCB has made great efforts to stabilize its savings deposit, improve the environment of business outlets, strengthen customer services, expand the intermediary business, stimulate the interaction between corporate and private services, intensify the agent service of distributing salary for profitable companies and corporate customers and promote the stable increase of private savings deposit. At peak seasons the bank organized such campaigns as “CCB’s Gifts for the Spring Festival of the Year of Cock”, “Fashionable Gifts for Bankcard Spending” and “Remittance Discount” and provides cross-bank transactions for the cardholders of other commercial banks with its 13,000 ATMs and several ten thousands of POS throughout large and medium-sized Chinese cities, which has fueled the growth of the inter-city bankcard spending, inter-city cash deposit and withdrawal and transfer services.

Amid the complicated market competition, innovation is a powerful weapon. In response to market demands, CCB continues product innovation to meet the diversified needs of different customer groups and launches a series of personalized new products which have been hailed by the market. In the first half of the year, CCB underwrote altogether RMB16.8 billion of evidence treasury bonds and 7 funds which involve a total amount of RMB3.006 billion. In the same period of time the bank witnessed active fund subscription and buyback and the total subscriptions amounted to 7.5 billion pieces, a growth of 97% over the same period of last year. (Zhang Jian)