Lenders tap online sources of growth

Ability to provide integrated financial services gets more customers for traditional institutions

Driven by intense competition from large Internet companies, Chinese banks are deploying strategies for Internet-based businesses. Many traditional lenders are building their own e-commerce platforms to provide financial services, in addition to online shopping services.

Industrial and Commercial Bank of China Ltd, the largest State-owned lender by assets in China, launched a home selling service on its business-to-customer e-commerce platform, combining housing resources of real estate companies with its advantages in customers, financial services, as well as online and off line channels.