China Construction Bank, which received a $3 billion investment from Bank of America Corp. in June 2005, has launched more than 20 partnership projects with the Charlotte-based bank.

The projects include no-fee cash withdrawals from BofA's ATM machines in China and improved call centers and retail branches.

The projects have progressed smoothly, with some already concluded and achieving results," says Zhang Jianguo, president of China Construction.

BofA owns nearly 9 percent of China's third-largest bank and has an option to increase its investment to 19.9 percent.

The companies also have a seven-year agreement in which BofA provides China Construction with advice and assistance. Some 50 BofA employees are assisting China Construction. They are led by Global Corporate Planning and Strategy Executive Gregory Curl and Strategic Assistance Coordinator Helen Eggers.

BofA is also helping China Construction in financial and risk management, information-technology planning, and database management.

"The strategic assistance projects have enabled us to rapidly improve some weak links in our business and improve the competitiveness of our products and services," says Zhang. "It's all part of our efforts to further improve our customer-centric, market-driven culture."

Source:佚名