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Bank Reforms Credit Management System
The Industrial and Commercial Bank of China (ICBC) says it has realized real time control and unified management with its credit businesses, thanks to a new comprehensive credit management system it has developed over the past four years.
A spokesman for the ICBC said the new system, developed on credit management experiences of international modern commercial banks, has been operating smoothly for 10 months, which helped standardize the bank's credit operating procedures, raise operating efficiency, improve credit quality and minimize credit risks.
Experts say that the move is a breakthrough in credit management of Chinese commercial banks.
The new system is a large data bank system based on computer networks. It connects all of the bank's credit business institutions and business outlets and integrates working capital loans, project loans, real estate loans, individual consumption loans, asset risk management and other businesses.
"It is a comprehensive management system combining information management, risk management, industry management, loan accounting and decision supporting," he said.
He said the powerful functions of the new system have largely improved the bank's internal control mechanism, lowered business cost for both the bank and its clients, and helped prevent illegal practices.
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