IB Named “Best Bank for Inter-bank Cooperation in Asia”

The Industrial Bank (IB) was recently named “Best Bank for Inter-bank Cooperation in Asia” during the proceedings of the 4th 21st Century Asian Financial Annual Seminar and Press Release for the 2009 Competitiveness Rankings of Asian Banks.

The sponsor of the appraisal held that “IB is the pioneer of the ‘big inter-banking’ concept in finance. What's commendable is the sheer momentum of IB's inter-banking businesses, such as bank-bank cooperation, bank-securities cooperation and bank-credit cooperation. The bank has gained sole credentials for the operation of a number of innovative businesses, and has been devoted to mutual prosperity within the trade.”

It has been reported that IB established the first institutional banking department in China in 2001. Holding to the principles of widespread cooperation, sincere service, professional operation and innovative development, the department is devoted to providing small and medium financial institutions and the capital market with the best possible banking services. At present, IB has exclusively acquired credentials for the operation of numerous innovative businesses in the fields of bank-bank cooperation, bank-securities cooperation and bank-credit cooperation. With such services, it has established a complete product service system, a professional team and a widespread customer base. As the bank has continued to enhance service functions, expand the range of financial products offered, and accommodate more and more small and medium financial institutions in China with platforms for business expansion and online sharing, it was won a great deal of praise in the industry and gained a unique competitive edge.

As one of the first commercial banks in China to provide banking services for securities markets, many years of efforts have made IB a national leader in terms of the number of securities companies it provides services for and in terms of market share in the depository of settlement funds from securities transactions. Moreover, IB was also one of the first commercial banks in China to provide RMB trust financing services. In terms of bank-bank cooperation, the Industrial Bank has created a leading and totally unique development mode manifested by the “Bank-bank Platform” brand. The platform serves to help partners in the industry to modernize their means of operation and management and bring the strengths of partners together for mutual benefit and overall cooperation. This mode has become another important means by which the Industrial Bank fulfills its social responsibilities. By the end of October 2009, IB had 210 contracted clients on its bank-bank platform, with 150 having already gone online. The banks that IB cooperates with over the platform are spread throughout China.

After being named the “Best Bank for Inter-bank Cooperation in Asia”, the Industrial Bank expressed that it would continue to provide comprehensive financial service solutions to financial sector partners and devote itself to becoming a leading provider of banking services to small and medium financial institutions and the capital market in China.

The 21st Century Asian Financial Annual Seminar and Competitiveness Rankings for Asian Banks was organized by 21st Century Business Herald and the Financial Research Center of 21st Century Research Institute in association with the Chinese University of Hong Kong, Shanghai Jiaotong University and California State University. The organizing parties came together to design precise indicators for the appraisal as well as analysis models in an effort to appraise the competitiveness of commercial banks to a standard recognized both academically and commercially. Following three years of development, the 21st Century Asian Financial Annual Seminar has become a major financial summit in Asia. The competitiveness ranking of Asian Banks has established a benchmark according to which domestic commercial banks can improve their competitiveness. Both draw widespread attention in various circles.