China Merchants Bank Co. Ltd. (600036.SH; 03968.HK) will transform to a "lightweight" bank with retail finance and Internet finance as development priorities, said Liu Jianjun, president of the bank, at a press conference held by the China Banking Regulatory Commission (CBRC) on Thursday.
The bank drew up the plan in 2014 to transform itself to a "lightweight" bank, by developing retail finance as the main business line and corporate finance and interbank finance as two wings.
According to its development strategy, the bank will focus on wealth management, consumer finance and micro finance in retail finance, trading banking and investment banking in corporate finance, and assets management and financial market business in interbank finance.
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