EverBright Bank Aims To Expand Card Operations

EverBright Bank is planning a major expansion of its credit card operations, according to the Shanghai Daily. The bank has issued
over one million cards and in the next year is looking to add up to
1.5 million more. In an effort to spur further growth, the bank is
promoting credit card products to compete against rivals, including
China’s big four state-owned lenders. For example, the company began
offering the country’s first credit card for baby products, including
promotions and catering to the new-family demographic. Also, they have
signed agreements with bank card system operator, China UnionPay Co, to
establish more cooperating merchants, enhance branding, develop dynamic
products and customer service operations. In doing so, EverBright hopes
to expand by adding up to 20 million new card customers in three to five
years.