Recently, in the latest round of bidding for the qualification as agent banks for centralized payment of the Central Treasury held by the Ministry of Finance, Industrial Bank stood out among 18 commercial banks participating in the bidding process. With an overall ranking of 6th and ranking 1st among joint-stock commercial banks, Industrial Bank once again secured the qualification as the agent bank for the centralized payment of the Central Treasury, maintaining its leading position in fiscal agency business.
The agency business from the Central Treasury is the most important in national fiscal agency business, and it puts forward extremely high requirements for agent banks in terms of capital strength, national branch presence, agency experience, settlement network, institutional construction, system construction, risk prevention, hardware configuration, staffing and service level.
“Obtaining the qualification as the agent bank for the centralized payment of the Central Treasury again is not only conducive to the long-term and stable development of the Bank’s fiscal business and further enhancement of reputation and influence, but will also play a positive role in promoting the cooperation between the Bank and governments and optimizing the asset-liability structure, etc. The Bank will give full play to its own advantages and make every effort in carrying out agent centralized payment of the Central Treasury, providing better and more efficient financial services for government departments and budget-receiving units,” said a spokesperson from Industrial Bank.
Since obtaining the qualification as the agent bank for centralized payment of the Central Treasury in the previous bidding, Industrial Bank has handled the centralized payment business of the Central Treasury totaling over 300 billion yuan, providing timely and secure financial fund payment services to over 30 central-level budget-receiving units and their subordinate grassroots budget-receiving units. The Bank has consistently achieved excellent results in the annual comprehensive evaluation of agent banks organized by the Ministry of Finance for multiple years. In terms of local fiscal agency, Industrial Bank has obtained over 700 qualifications for provincial, municipal, and county-level fiscal agency, conducting business exceeding 300 billion yuan annually, and has received unanimous recognition from various levels of fiscal departments, the People’s Bank of China, and budget-receiving units.