In so doing, Sparkassenstiftung supports a banking group that is an adequate cooperation partner for German Sparkassen (savings banks). After three years of preparatory work, a service agency was founded in August 2008, namely the “Shandong City Commercial Banks Alliance Co. Ltd. (SCCBA)”. This service agency will particularly accomplish joint tasks in the field of IT. SCCBA’s first assignment will be the development of a standardised IT system for all banks involved, which will be centrally made available to these banks through a newly established joint IT centre. It is planned that SCCBA will offer other services in the future too.
The 110 City Commercial Banks are spread throughout the provinces of China and have a market share of about 5% to 7%. Despite their similarities regarding ownership, business fields and regional principle, these banks do not have a corporate identity or structure like German Sparkassen. Up to now, the banking group lacks any form of networking and thus a safe economic backbone. Even the smallest City Commercial Banks have to deal with all issues pertaining to product development, training or information technology all by themselves.
The province Shandong has 92 million inhabitants. Since 2006 (after preparatory work in 2005), the Sparkassenstiftung renders advice to the City Commercial Banks in Shandong province. The project predominantly aims at improving the market position and market penetration of these CCBs through practical networking and the establishment of joint institutions.
On 3rd November 2008 Sparkassenstiftung signed a consultancy agreement with the SCCBA in Bonn. On the basis of this contract, Sparkassenstiftung will render advisory and training services to the Chinese colleagues. SCCBA will cover all costs relating to consulting services, as financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ) for the starting phase of the project has now expired. This development is another proof for the appreciation of the cooperation work with Sparkassenstiftung on part of the Chinese institutions.
Representing Sparkassenstiftung’s management board, Ferdinand Feldgen, Deputy Director, signed the agreement and promised: “Also in future, Sparkassenstiftung will be prepared to provide the Shandong City Commercial Banks Alliance with know-how from the German Sparkassen-Finanzgruppe (Savings Banks Finance Group). Today we will pave the ground for our further cooperation by signing this agreement. As before, an essential element of our work will be the imparting of know-how in the area of IT through consultancy assignments and the exchange of experience with the City Commercial Banks in Shandong with the aim to set up joint IT systems.”
The highest ranking Chinese guest was the General Director of the Banking Supervisory Authority of the province of Shandong, Mr. Zhong Ming Zhou. The SCCBA was represented by its Chairman, Mr. Meng Lin, who signed the service agreement for the Chinese partners.
For media enquiries please contact:
Mr. Ferdinand Feldgen / Ms. Tian Xia / Ms. Christina Heuft
Sparkassenstiftung für internationale Kooperation
Phone +49 228 9703-618
Fax +49 228 9703-613