The assignment is expected to last approximately six months, and carries a reported spend of US$10 million. It is believed that other contenders for the account included Euro RSCG, Young & Rubicam and local incumbent Shun Ya, which held the account previously for more than a year.
A source added that much of CMB's advertising is handled by local Chinese companies.
CMB leads China's nascent credit market, with a reported share of 35 per cent. At the end of 2006, it was reported to have over 10 million credit cards in circulation. The bank is eyeing aggressive expansion of its credit card business.
