About IB

Industrial Bank Obtained the Qualification of Agent Bank for Collection of Non-tax Revenues of the Central Treasury

Few days ago, in the invitation for bid for the Project of Agent Bank for Collection of Non-tax Revenues of the Central Treasury, Industrial Bank (IB) stood out among the 16 national commercial banks in the competition and successfully won the qualification of agent bank for collection of non-tax revenues of the central treasury, with its advantages including efficient integrated service system and business handling capability, advanced IT system and good risk control capacity.

It is said that the collection of non-tax revenues of the central treasury refers to the non-tax revenues of the central treasury collected by commercial banks servicing as agencies, including the revenue from administrative and institutional fees, governmental funds, revenue from the compensable use of state-owned resources, operating income earned from state-owned capital, public welfare fund from lottery, revenue from penalty and confiscation, donations received in the name of government, revenue from competent departments’ unified charges, and interest revenue from the government’s treasury funds, etc. Whereas the entrusted agency agreement on the agent bank for collection of non-tax revenues of the central government expired at the end of 2014, the Ministry of Finance initiated a new round of invitation for bid for the agent bank in December 2014. The qualification term for collection agency of non-tax revenues of the central treasury in the public invitation lasts for 5 years. It will fully prove the great strength of a commercial bank to become the agent bank for collection of non-tax revenues of the central treasury.

As one of the national joint-stock commercial banks with the agency business qualifications of the treasury, which are of the greatest number, variety and coverage, IB boasts rich experience in serving as a business agency for treasury payment. By the end of 2014, IB has obtained 252 qualifications as the agent bank for centralized payment and collection of the treasury at the provincial, municipal and district levels.

“It should be mentioned that obtaining the qualification of agent bank for collection of non-tax revenues of the central treasury this time is the result of the bank’s years of devotion and preparation.” The relevant person-in-charge of IB told the reporter that IB has always ranked front in the appraisal of agent banks organized by the treasury departments at all levels for years, establishing its brand and market influence in the area of agency treasury businesses.

It, the person-in-charge said, bears upon the national economy and livelihood of people to serve as an agent bank for the collection of non-tax revenues of the central treasury, and there is a long way to go. Taking it as milestone breakthrough to obtain this business qualification, IB will exert itself to doing well all agency services related to the centralized payment and collection of the central treasury and keeping improving the financial service level as a treasury agency.

As pointed out by some insiders, the collection of non-tax revenues of the central treasury is an important bridge for the business collaboration between commercial banks and the central budget organizations. Obtaining the qualification of agent bank for collection of non-tax revenues of the central government will build a good foundation for IB to further cooperation with all departments and organizations of the central government.

TOP