JSC VTB Bank Branch in Shanghai is enhancing its services offered to corporate customers who can now promptly perform operations and trace their financial flows from any corner of China using “Internet-Customer” services.
The “Internet-Customer” remote banking system applied at JSC VTB Bank has been adjusted to meet the market requirements and legislation of the People’s Republic of China.
Under a pilot project, the new service is presently being used by some current customers of the Branch, such as Shanghai Kuibyshevazot Trading Co. Ltd. (a subsidiary of JSC KuibyshevAzot) and Hengsen Shanghai Co. Ltd. (an international group offering financial, legal, logistics and consulting services, which was one of the first customers to open accounts with VTB Branch).
Remote banking services have become of vital importance because of increased customer base of the Branch. Today, among its customers are companies located in China, Hong Kong and Singapore.
Olga Dergunova, Member of VTB Management Board, said, “We aspire to provide our customers with services of equally high quality in all regions of VTB presence. The ‘Internet-Customer’ system will streamline payments and make customers’ communication with the Bank more straightforward.”
JSC VTB Bank Branch in Shanghai was established in 2008. Presently it is the only division of a Russian bank having a financial license for banking operations in China. In November 2010, the Branch got a RUB/CNY market maker status in the China Foreign Exchange. Its assets, as of 01 November 2011, amounted to USD 70 million.