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Headcount at China's four biggest banks shrinks as payments move online

Published Fri, Apr 7, 2017 · 09:50 PM

Shanghai

TOTAL headcount at China's four largest banks fell in 2016 for the first time in six years, as the lenders cut costs and tried to a-dapt their massive branch networks in the face of competition from online payment giants Ant Financial and Tencent Holdings Ltd.

Industrial & Commercial Bank of China, China Construction Bank Corp, Agricultural Bank of China Ltd and Bank of China employed 17,824 fewer people at the end of 2016, the fir…

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Companies & Markets

Companies & Markets

Headcount at China's four biggest banks shrinks as payments move online

Companies & Markets

Netflix handily beats subscriber targets, misses on revenue forecast

Meta releases early versions of its Llama 3 AI model

Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts

TSMC estimates losses of US$92.4 million due to Taiwan earthquake

Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom

US: Wall St opens higher as some chip stocks bounce back after selloff

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