E&Y urges Chinese banks to shift focus

Report suggests room for growth in online, mobile and intermediary operations

Chinese banks should accelerate development of their intermediary and online business, as well as their mobile banking operations, according to a report released on Tuesday by global professional services firm Ernst & Young.

Despite a slowdown in profit growth by the country's listed banks, growth of income from fees and commissions increased by 24 percent in the first three months of 2013 compared with the same period in 2012, a significant improvement on the 17 percent rise between 2011 and 2012, said Geoffrey Choi, financial services partner at Ernst & Young Hua Ming LLP.