Industrial Bank Landed on Hefei

Anhui Daily

(By Feng Min)

After six-month long preparation, Industrial Bank Hefei branch officially unveiled on June 26 in the morning. Thus, Hefei city totally has up to 12 diversified banks including policy banks, state-owned commercial banks and share-holding commercial banks.

Founded in August 1988 and as one of the first batch of share-holding commercial banks in China, Industrial Bank had rapidly boosted its comprehensive operational capacity during the past 10 years. Up to the end of March 2006, the registered capital of the bank has hit RMB 3,999 billion. As a commercial bank native to Fujian province, the opening of Hefei branch predicated a key step of Industrial Bank's nationwide strategy.

Furthermore, the establishment of Hefei branch is also a win-win game no matter for Industrial Bank or Hefei city. This move will help Hefei position itself as the "Financial Centre" inside Anhui province.

Rong Yimin, president of Industrial Bank Hefei branch, noted that the widely-spread sub-branches, self-service bank, improved outlet distribution and service network would be set up in Hefei city to meet the financial demand of Hefei citizens after the opening of Hefei branch; at the same time, the assets business not only would serve big clients but also would supply a reliable financing platform for small and medium sized enterprises in Anhui.