Chinatrust: Chinese banks lack financial ‘know-how’

Chinatrust Commercial Bank plans to partner Chinese banks through consumer financing education and credit card operations.

A senior executive at Chinatrust commented that most local banks in China are loaded with capital, but lacked the financial ‘know-how’ to use the capital. Hence, Chinatrust would partner China`s banks since Chinatrust has strong financial know-how, especially in consumer banking.

The executive said that Chinatrust is a major bank in Taiwan and should cooperate with similar sized, prestigious banks in China`s bigger cities, as stated in a report in China Economic News Service.

In 2002 Chinatrust aided the China Merchants Bank (CMB), a leading bank in China, in establishing a credit-card operating platform as well as offer training, including staff cultivation, marketing strategies, risk control, personnel management etc. CMB has since become the most successful credit card issuer in China.

Chinatrust reportedly plans to cooperate with a local bank in China to set up a credit-card issuer to tap the huge market. In addition, Chinatrust may also engage in consumer financing and wealth management in China.