Lisbon, February 5, 2021 – On January 14th of 2021, Bison Bank was accepted by the Central Bank of the People’s Republic of China as a member of CIPS, a leading clearing and payment services provider for financial institutions in the cross-border RMB business.
Through their direct and indirect participants, where Bison Bank stands itself, the network of CIPS has reached more than 3.000 financial institutions across 167 countries and regions. This approval by the Central Bank of China represents an important step forward for Bison Bank in terms of scale, range and speed of deposits and settlements in CNY and CNH, which shall contribute to promote the Bank’s cross-border RMB business, by supporting clients in their RMB denominated transactions.
This achievement jointly with the €19 million share capital increase completion reinforces further the commitment of Bison Bank towards its clients and remaining stakeholders. In 2021 the Bank intends to leverage its wealth management services by a broader product offering, through a series of national and international campaigns that shall allow to further materialize the Bank’s competitive advantages posed by its distinctive products and services.
The Bank keeps on progressing and developing its path initiated in mid-2018 of building a financial institution barely from scratch, with the view to increasingly stand as a strong, focused and flexible Euro-Asian partner for its clients in its three business lines – wealth management, depositary & custody and investment banking business.