Industrial Bank head Tao Yiping has unveiled structural reforms aimed at changing the financial institution’s operating model.
At a recent press conference Tao said that while profound changes to the economic and finance environment had created pressure and challenges for growth in the banking centre, it is also bringing new historic opportunities.
According to Tao Chinese commercial banks are all pursuing a “light model” of operation that revolves around “light capital and high efficiency,” which in Industrial Bank’s case will involve expediting the establishment of a “three model bank” which engages in settlement, investment and transaction.
To this end Industrial Bank is launching a new round of organisational and structural reforms, chief amongst the establishment of four major groups within the bank for enterprise financing, retail financing, interbank financing and investment banking and financial markets.