Bank of Communications (BOCOM), China's fourth-largest lender by market value, may launch its own insurance unit as early as this year as part of its efforts to become a financial conglomerate in the long run, sources said.
Bank of Communications wants faster-than-average loan growth from small and medium enterprises this year as the bank seeks higher margins, its executive vice president said Wednesday.
The Bank of Communications yesterday offered a credit line of 15 billion yuan (US$2.2 billion) to China Southern Airlines in a latest support to the country's ailing aviation industry.
Bank of Communications yesterday decided to clear the air over a mortgage policy that has vexed its existing clients who kept the bank staff busy answering their queries.