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The Industrial and Commercial Bank of China says it plans to increase its credit card base nearly 52%, to 50 million cards by the end of 2009 from 33 million cards now. The bank also hopes to increase its card-related profits, including fee income, which accounts for 10% of the company's profits, a bank spokesperson tells CardLine Global. The bank's card base has grown 41.1% since the end of last year, from 23.38 million cards. The bank's card goal is "realistic," Hua Zhang, a banking analyst in the China office of United States-based research firm Celent, tells CardLine Global. Beijing-based China Construction Bank also has announced its card goals. The financial institution expects to have issued 20 million credit cards by 2009, up 25% from 16 million currently.
