Mid-sized Chinese banks drive cash management capabilities through SME focus
While ICBC remains the frontrunner in China’s cash management business, BOCOM and CMB have also achieved impressive YoY growth figures.
As China’s top four state-owned banks continue to service corporations’ cash management needs, they are now joined by mid-sized, joint-stock banks which aim to increase their market share and become major players in the market.
China’s cash management business is currently led by Industrial and Commercial Bank of China (ICBC), as the bank continues to invest in local talent, establish operations across the globe, and by enhance its cash management strategies.
With a major lead on the second largest cash management business in China, Bank of China (BoC), by a quite a margin, ICBC’s…
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