Belarusbank and Shanghai Rural Commercial Bank (China) have discussed the opportunities of bilateral cooperation during a visit of representatives of the Chinese bank to the headquarters of the Belarusian bank.
In his turn, Vice President of Shanghai Rural Commercial Bank Li Jin said that the Chinese party was looking forward to close collaboration with Belarusian partners in various mutually beneficial areas, in particular, trade finance.
It was noted during the meeting that Belarusbank has a wide network of partners abroad, namely, around 700 correspondent banks. The bank complies with all relevant regulations and procedures in the framework of cooperation with its partners.
The Belarusian side made a presentation of one of its retail products, Magnit Installment Card, placing particular emphasis on the advantages of the card. Currently as many as 135,000 bank’s clients hold Magnit card. The card is accepted by 17 thousand partner stores.
Summarizing the results of the meeting, the parties identified the potential areas of mutually beneficial cooperation and expressed hope that they would soon initiate joint projects.
The Chinese delegation visited Belarusbank’s museum located on the premises of the head office.
Reference information:
Shanghai Rural Commercial Bank Co., Ltd (SRCB), Shanghai, the People’s Republic of China, was founded in 2005. It is the first joint stock commercial bank of the provincial level that was formed on the basis of rural credit unions.
According to The Banker, presently SRCB ranks 25th in China and 178th in the world. In 2017 the bank’s assets totalled around $123.4 billion. SRCB provides a wide range of banking products and services to retail and corporate customers in China. The bank offers investment and loan products, lines of credit, guarantees and funding to agricultural companies. The Bank’s clients include the leading importers of China who, inter alia, supply foodstuffs (in particular, dairy products) to the Chinese market. SRCB is an active supporter of the “Belt and Road” initiative.
Belarusbank Communications Division