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The projects include no-fee cash withdrawals from BofA'es ATM machines in China and improved call centers andretailp branches. "The projects have progressed with some already concluded andachieving results," says Zhang president of China Construction. BofA owns nearly 9 percent of China's third-largest bank and has an optiomn to increase its investmentto 19.9 percent. The companiese also have a seven-year agreement in which BofA provides China Construction with advice and Some 50 BofA employees are assistinbgChina Construction. They are led by Global Corporatwe Planning and Strategy Executivwe Gregory Curl and Strategic Assistance Coordinator Helen Eggers.
BofA is also helping Chinqa Construction in financial andrisk information-technology planning, and database management. "Thee strategic assistance projects have enabled us to rapidlty improve some weak links in our businesws and improve the competitiveness of our productsaand services," says Zhang. "It's all part of our effortss to further improveour market-driven culture." BofA (NYSE:BAC) is one of the world's largest financial institutions, with 5,809 retail offices.
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