Mobile banking: Minsheng bank punches above its weight
EnfoDesk, a Chinese market research company, published a report on China’s mobile phone banking sector. According to the report, bank transactions conducted via mobile phones in Q4 of 2013 reached just over 370 billion yuan, 35.90% higher than the previous quarter.
Worth noting is that the study puts China Minsheng Bank in third position in the market share ranking of mobile banking: Minsheng, with 10.68 % market share of mobile banking, is only beaten by China Construction Bank (28.19%) and ICBC (24.38%), both of which are members of China’s “Big Four” mammoth banks while Minsheng remains a much smaller upstart. The article attributes Minsheng’s fast progress in the sector to technological innovation and social media marketing.
Companies and brands affected
China Minsheng Bank (HKG:01988 SH:600016)
Links and sources
New Express: 行业数据：2013年第3季度手机银行市场份额变动明显 民生银行跻身前三甲
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