According to sources, GDB considered agencies from both Guangzhou and Hong Kong before shortlisting Hong Kong agencies only. The bank is considered a pioneer of China’s credit card industry and was the country’s first to turn a profit from credit cards, in 2005.
However, after struggling with non-performing loans, GDB was taken over, on a one-year contract, by a consortium led by Citigroup – one of Publicis’ key global clients.
