Western Union Signs One of World’s Largest Banks – Industrial & Commercial Bank of China – for Account Based Money Tran...
17 9월 2012 - 10:15PM
Business Wire
The Western Union Company (NYSE: WU), a leader in global payment
services, has signed an agreement with one of the world’s largest
banks, Industrial and Commercial Bank of China (ICBC), enabling its
customers to send or receive money from their online bank accounts
on a 24/7 basis around the world through Western Union’s global
network.
ICBC, ranked as the world’s largest Bank based on capital and
third largest based on assets, will work with Western Union to
activate the Account Based Money Transfer Service which will allow
customers to receive funds in US or RMB currencies.
“Providing account based money transfer services through a large
and prestigious bank such as ICBC is another demonstration of the
ongoing changes at Western Union,” said Hikmet Ersek, Western Union
President and CEO. “While we provide much needed services to people
throughout the world, we also understand that our customers are
seeking more choices and convenience, which our agreement with ICBC
will be able to accommodate. Thanks to our robust Western Union
cross-border money transfer platform, we are now able to complement
our more than 36,000 location strong Agent network in China to
include banking online channels giving consumers across China the
choice to manage their international money transfers with
flexibility.”
Western Union’s Account Based Money Transfer services in China
have gained momentum recently with the company activating services
with Postal Savings Bank of China (PSBC), Agriculture Bank of China
(ABC) and China Everbright Bank (CEB). All of these banks allow
their customers with on-line banking to direct international money
transfer received via Western Union into their bank accounts, while
CEB also offers its customers outward remittances services.
For more than 17 years, Western Union has remained committed to
the China market, moving money between consumers and their family
members overseas through a fast, reliable and convenient
money-transfer service.
ICBC is a much awarded bank on a global and
national scale and has a portfolio of 282 million account holders,
of which 115 million are activated for online banking. The
agreement with Western Union will propel ICBC to lead Bank
account-linked inward and outward remittances in a nation that
receives the second largest amount of remittances in the world –
US$62 billion based on the World Bank 2011 data.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
June 30, 2012, the Western Union, Vigo and Orlandi Valuta branded
services were offered through a combined network of approximately
510,000 agent locations in 200 countries and territories. In 2011,
The Western Union Company completed 226 million
consumer-to-consumer transactions worldwide, moving $81 billion of
principal between consumers, and 425 million business payments. For
more information, visit www.westernunion.com.
About Industrial Commercial Bank of China
ICBC provides a wide range of financial products and services to
4.11 million corporate clients and 282 million individual customers
through 16,648 outlets across China, 239 overseas subsidiaries and
a global network of more than 1,669 correspondent banks as well as
Internet Banking, Telephone Banking and Self-service Banking. ICBC
established strong presence by its commercial banking operation and
rapid expansion to markets worldwide. ICBC held the top slots in
the country in many business areas of commercial banking. ICBC has
408,859 employees under payroll.
At the end of 2011, total assets reached RMB 15,476.868 billion,
representing an increase of RMB 2,018.246 billion, or 15.0% over
the end of previous year; Total liabilities reached RMB 14,519.045
billion at the end of 2011, up RMB 1,882.08 billion, or 14.9% from
a year earlier. Having a 25.6% increase against previous year in
net profit to RMB 208.445 billion in 2011, ICBC defended its
position as the world’s most profitable bank. Return on average
total assets and return on weighted average equity on par with the
international standard, were at 1.44% and 23.44% respectively.
Earnings per share rose RMB 0.12 from a year earlier to RMB 0.6.
Ratio of non-performing loans fell to 0.94 percent, down 0.14
percentage points against previous year.
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