Bank-Bank Platform Cooperation Launched
On May 13, 2010, the Industrial Bank and Evergrowing Bank held a signing ceremony in Yantai for the signing of the Comprehensive Strategic Cooperation Agreement and business cooperation agreements in regard to Guimiantong Services and financial management. Mr. Jiang Yunming, Deputy President of the Industrial Bank, and Mr. Song Hengji, Deputy Governor of Evergrowing Bank, signed the agreements on behalf of the two banks respectively.
In accordance with the agreements, the two banks will launch all-round cooperation in areas such as agency services, settlement business, financing and crediting, asset management and investment banking. They will begin by cooperating in Guimiantong Services and financial management. In terms of Guimiantong Services, by making use of the counters at outlets owned by the Industrial Bank and other commercial banks on the bank-bank platform network, the Evergrowing Bank will be granted access to a service network covering the entire country for the bank card (book) business of its individual clients, such as cash deposit and withdrawal, transfer and balance inquiry. Meanwhile, clients of the Industrial Bank and other linked banks on the bank-bank platform will be able to handle relevant businesses over the counter at any outlet of the Evergrowing Bank. The cooperation between the two banks is not only a mutually beneficial relationship, but has also further extended the network scope of the bank-bank platform, providing a better platform for the benefit and common development of all networked banks. In terms of financial management, relying on the Industrial Bank's rich experience in financial management, the Evergrowing Bank will continue to enrich its product line and upgrade its capability in financial appreciation service.
It is reported that the Evergrowing Bank is the 40th domestic bank to sign an Guimiantong Services agreement over the bank-bank platform with the Industrial Bank, and the first national joint-stock commercial bank to do so. This move demonstrates that the partners of the Industrial Bank on the “bank-bank platform” have expanded from small and medium sized banking institutions, such as city commercial banks and rural credit cooperatives, to include larger ones operating on a national scale. It has been reported that since the launch of the “bank-bank platform” by the Industrial Bank in 2004, the Industrial Bank has signed bank-bank cooperation agreements with 223 banking and financing institutions nationwide, 155 of which are now online and offering a total of 240 online products.