BoCom to double high-end service outlets
(Shanghai Daily)Updated: 2007-06-14 13:22 Bank of Communications will double its high-end wealth management service outlets to 200 in China within 12 months, a senior bank executive told Shanghai Daily this morning.
The bank expected that the high-end outlets across the
country will account for 15 percent of China's fifth largest bank's network in
one or two years, Dicky Peter Yip, vice president of BoCom said on the sidelines
of a banking forum in Shanghai.
BoCOM now has 2,800 outlets in nearly 150 cities across China. It plans to open at least one or two high-end wealth management service outlets in every major city, Yip said.
The bank's high-end wealth-management services target clients with assets of more than 500,000 yuan (US$65,530), Yip said.
The bank, 19.9 percent owned by HSBC Holdings, is grabbing more market share in consumer lending based on HSBC's expertise in developing fee-based services, including credit cards and cash management.
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