(Yicai Global) June 7 -- Dai Bing, general manager of China Everbright Bank Credit Card Center, will take on a new role as president of the recently founded Yillion Bank, the first private bank in Northeast China.
Bing's role at Everbright was closer to that of a deputy president than general manager, an insider once told Yicai Global. The executive confirmed the job switch yesterday.
Among 17 operating private banks in China, eight are focused on internet banking, with a number of other institutions also planning on exploring the online world.
Bing continuously pushed the integration of credit cards and financial technology during his time at Everbright, according to his resume. At the end of last year, the Everbright Credit Card Center and The Fourth Paradigm Technology Beijing Co. set up an artificial intelligence laboratory to cooperate on digital development of credit cards.
Around the same time, China Banking Regulatory Commission approved plans to establish three private banks: Weihai Blue Ocean Bank, Jilin Yillion Bank and Liaoning Zhengxing Bank. On May 16 this year, Yillion Bank official began operations in Changchun in the northeastern province of Jilin.
Yillion's biggest shareholder is Zhongfa Jinkong Investment Management Co., which has a 30 percent stake in the bank. With a 28.5 percent stake, the second largest is Jilin Sankuai Technology Co., which is controlled by Wang Xing, founder of Meituan Dianping, China's biggest group deals platform.
Yillion Bank was approved to have registered capital of CNY2 billion (USD294 million).