The Industrial and Commercial Bank of China (ICBC) said yesterday that its bankcard business enjoyed rapid growth during the first quarter of this year. By the end of March, the bank had issued a total of 9.682 million Peony cards, a year-on-year increase of 18.45 per cent. The total consumption volume through Peony cards exceeded 58 billion yuan (US$7.2 billion).

The Industrial and Commercial Bank of China yesterday signed a co-operation agreement with 16 fund management companies to jointly promote online fund trading. The bank will launch a fund channel on its website, allowing investors to search information and trade online. The move is part of the bank's efforts to further develop its e-banking services.

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