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Written by:

Ronald L


Date added:

June 20, 2016








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2 / 433


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If we issue more cards, beating the target, we will definitely donate more," Ma said. The bank, which launched its credit card business in 2002, is one of the three biggest credit card issuers in China, where there is more than $2 trillion in personal savings. Now, Merchants Bank controls roughly 35 percent of the domestic credit card market in terms of issues...
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Its card business is already profitable and the bank hopes it will become a major earnings contributor in the next few years. Its major competitors are Industrial & Commercial Bank of China and China Construction Bank , two of the Big Four state lenders. Credit card use started to become common in big Chinese cities just several years ago, and Beijing is encouraging more shops and hotels to accept cards, as part of efforts to improve payment services before the 2008 Olympics...
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