Banking News
- BOC to draw 1,000 private banking clients
Date: 12-Nov-2007 Sources: (Shenzhen Daily)
BANK of China (BOC)'s private banking customers will mushroom from several hundred to more than 1,000 in the coming two years, Huang Jinlao, Marketing Director of Personal Banking Department of BOC, said recently.
This translates into a total amount of 10 billion yuan (US$1.35 billion) wealth from the private banking clients to be managed by the country's second largest lender. BOC is the first Chinese-funded bank to provide domestic private banking services since Mar. 28, 2007 targeting those with liquid financial assets above US$1 million, after Citibank, Standard Chartered and other leading foreign-funded banks.
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