"Walking on Legs" in the UK "netting" International enterprises
KeywordsBOC walking on both legs
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In Britain, after netting the Chinese business, the Chinese traditional "ticket" function has not satisfied the Bank of China (601988. SH,03988.HK) appetite. They want to seize the British local market, and in fact, taking advantage of the financial crisis that broke out two years ago, Bank of China by virtue of its own "liquidity" in the city has been first. "Bank of China's business in the UK has been focused on Chinese customers for a long time, 6 years ago, the Chinese business accounted for more than 90%, and now the company's business is China's Chinese enterprises and local enterprises accounted for half." "The general manager of Bank of China London Branch, executive director of Bank of China (UK), Gerch, said in an interview with the first financial daily. According to reports, the Bank of China opened its first overseas branch in London as early as 1929 and has converted its London business into a wholly-owned branch since 2007. "In addition to focusing on and continuing to support Chinese companies and the British overseas, community and Chinese enterprises, as well as overseas students, we have also begun to focus on developing local businesses, including those in the UK that invest in China," he said. Our strategy has thus become ' walking on legs '. "Gerch said. Two months ago, the Bank of China competed with local banks to obtain a 50 million-pound financing project for an Intercontinental hotel under construction and thus entered the local hospitality industry. Not only that, since the middle of last year, Bank of China has entered the UK bank's credit consumer market, offering loans to UK consumers. These are the banks ' involvement in the UK's real estate industry, Gerch said. "Our business includes not only lending to large and medium-sized enterprises, but also real estate." From the perspective of home mortgages, this is a relatively small risk of the loan project. But the important thing for us is not here, but how to seize the local market. "After the financial crisis, some big banks have no money to lend, but the Bank of China does not have liquidity problems and is widely recognised by local clients," Gerch said. For now, 50% of residential mortgages come from local consumers. "It's not so hard to start this business, it's how to keep the business growing," he said. As the financial crisis draws to a close and the liquidity risks of banks are eased, our challenge is to guarantee the business of the sector. There will be many challenges behind it, including systems, products, people, services, and the market, which is likely to remain competitive. Gerch to this newspaper reporter said. This is also the problem that all Chinese banks will encounter after "going to sea". Gerch that, compared to some mature international banks in Europe and America, Chinese banks do not have the advantage in systems, technology, products and even talent, even at some levels by the local market analyst reviews as "old-fashioned." Gerch said that at this time the Chinese banks should play a "bridge" effect, this advantage is other similar banks have no way to achieve. "The strategy of the past few years is to build the bank of China into the world-class banks, now on the scale of assets, China's commercial banks in the international, but to become a globalThe flow of banks is not limited to the size of assets, but to the ability to occupy a place in the global mainstream business, as well as the global market. "At present, many Chinese banks in Europe and the United States have branches, Gerch that the internationalization of the same time to avoid waste of resources," in the conduct of overseas business should be focused. ”
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