Bocom: efforts for risk-management
29 June 2007
Bank of Communications (Bocom), China's fifth-largest bank, plans to control risks in retail lending and comply with international best practices with the Basel II global banking standard by 2010, the Wall Street Journal reported. Bocom is building on a model it developed for its corporate business, and is cooperating with Mercer Oliver and HSBC to implement the new system to rate the credibility of its 40 million customers. Bocom estimates its retail risk-management system will cost more than US$13 million to develop.