Everbright Opens Regional Center in Shanghai for Granting Credit

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Last updated at: (Beijing Time) Saturday, January 18, 2003

Everbright Opens Regional Center in Shanghai for Granting Credit

China's sixth largest commercial bank Everbright recently opened an examination and approval center in Shanghai for granting credit to its branches in east China.

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China's sixth largest commercial bank Everbright recently opened an examination and approval center in Shanghai for granting credit to its branches in east China.

Covering the bank's five branches in Shanghai, Nanjing, Suzhou,Hangzhou and Ningbo in neighboring Jiangsu and Zhejiang provinces, the regional center will have the same amount of operations as Everbright's national Beijing center.

The regional center is the first of its kind of a Chinese mainland bank. Sources with the state-run bank say putting credit granting power on the economic forefront will help the bank carry out its favorable credit policy to the booming Yangtze Delta area.

The establishment of the center will also improve the bank's quality and efficiency in the process of examination and approval of credit projects, according to the sources.

Insiders here say Everbright's move, along with the new approaches of other major Chinese and foreign banks, such as establishing credit card centers in Shanghai, demonstrates the metropolis' attraction to financial institutes.

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