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Online banking grows fast

By Li Zengxin (chinadaily.com.cn)
Updated: 2006-09-08 09:36

China's online banking business has been developing fast and the number of online customers may exceed 100 million by 2010, said CCID Consulting, a local market research company in its latest China Online Banking Market Research Report 2006.

It said that by the end of last year, among the top 50 commercial banks in China, 37 have set up websites, including 25 conducting online banking business.

By the end of 2004, there were 10 million customers using online banking services. Transaction volume stood at 49.1 trillion yuan (US$6.1 trillion). By the end of 2005, there were 30 million online users, making transactions worth 72.6 trillion yuan, 96 percent of which was done by enterprise users.

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The full text is available in the September Issue ofChina Banking.