Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    ING hungry for slice of digital banking sector

    By Li Xiang | China Daily | Updated: 2018-06-12 09:50
    Share
    Share - WeChat
    Ralph Hamers, ING Group's chief executive. [Photo/VCG]

    Dutch financial services company ING Group NV is planning to launch digital banking business in China by setting up a joint venture with Chinese lender Bank of Beijing Co Ltd, as it hopes to gain a slice of China's rapidly growing online banking market.

    The partnership between ING and Bank of Beijing on digital banking is an illustration of the response by incumbent financial institutions to intensified competition from technology firms such as Alibaba and Tencent that are eating into their revenue streams by offering financial services on digital platforms.

    ING is hoping to pool its strength in consumer banking services and financial technology with Bank of Beijing's local knowledge of the Chinese market and the regulatory environment in their digital banking JV in China, according to Ralph Hamers, ING Group's chief executive.

    "We have a joint team working on this plan, preparing the business in order to get a license for that," Hamers said in a recent interview with China Daily in Beijing.

    While local lenders and technology firms already have a significant presence in China's digital banking sector, the ING chief still sees opportunities for ING as China's financial regulators roll out new policies to better regulate online finance and the shadow banking sectors and have granted foreign players greater market access to foster more competition.

    "We see changes in regulation opening up the banking system ... and more regulations coming in for non-banking financial institutions, the shadow banking sector and large tech companies on how to deal with data, security and compliance issues," Hamers said.

    "We are the digital player in the financial industry and we know very well how to deal with regulation and compliance. So we do think there is a specific opportunity to do so," he said.

    Hamers did not reveal the amount of investment ING planned to make in the digital banking JV nor the expected timing for the launch of the JV.

    The Dutch group formed an alliance with Bank of Beijing, the largest city commercial bank in China, when it took a minority stake in the bank in 2005. ING is currently the largest shareholder in the Chinese lender, owning a 13 percent stake with a market value of more than 17 billion yuan ($2.66 billion).

    In addition to the partnership with Bank of Beijing, Hamers said that ING Group will boost investment in its Chinese mainland branches and seek to double the number of its wholesale banking clients in China as it sees opportunities in cross-border financing services generated by the Belt and Road Initiative.

    "We've decide to invest more to grow our teams in Beijing and Shanghai next to the bases we have in Hong Kong, Singapore and other parts of Asia," Hamers said.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    天堂中文字幕在线| 小13箩利洗澡无码视频网站| 久久无码AV中文出轨人妻| 精品无码国产污污污免费网站国产| 影音先锋中文无码一区| 漂亮人妻被中出中文字幕久久| 无码欧精品亚洲日韩一区| 中文字幕乱码久久午夜| 中文字幕无码久久久| 久久久久久亚洲精品无码| 人妻中文久久久久| 全球中文成人在线| 久久久久成人精品无码| 人妻无码第一区二区三区| 中文字幕精品久久久久人妻| 97性无码区免费| 亚洲精品无码久久久久| 久久久久亚洲精品中文字幕 | 国产乱码精品一区二区三区中文| 粉嫩高中生无码视频在线观看| 亚洲人成影院在线无码按摩店| 久久久久亚洲精品中文字幕| 中文字幕一区二区三区精彩视频| 亚洲欧美综合中文| 亚洲av午夜国产精品无码中文字| 久久激情亚洲精品无码?V| 2021无码最新国产在线观看| 人妻精品久久无码专区精东影业| 无码专区永久免费AV网站| 久久午夜无码鲁丝片秋霞 | 精品欧洲AV无码一区二区男男| 天堂资源中文最新版在线一区 | 精品无码三级在线观看视频| 91精品无码久久久久久五月天| 国产成人亚洲综合无码精品 | 青春草无码精品视频在线观| 超清无码一区二区三区| 久久精品无码一区二区三区免费| 日韩乱码人妻无码中文字幕视频| 亚洲中文字幕日产乱码高清app| heyzo高无码国产精品|