Chinese bank reports rising online business
( 2003-10-09 00:32) (Xinhua)
The Industrial and Commercial Bank of China Wednesday reported 10,529.1
billion yuan (US$1,268.57b) of online banking transactions in the first eight
months of this year, up 290 percent year-on-year.
The bank's online banking business has been growing rapidly since it was
inaugurated in 2000. The sector reported less than 20 billion yuan (US$2.41b) of
transactions in 2000, more than 640 billion yuan (US$77.11b) in 2001 and 5,350
billion yuan (644.58 billion dollars) in 2002, said a bank spokesman.
According to the spokesman, the bank accepted 23,000 new corporate clients
and more than 2.9 million individual clients in the first eight months of this
year.
Of the total online banking transactions in the first eight months, 158.3
billion yuan (US$19.07b) were done by individual clients, up 260 percent
year-on-year.
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