UNION Bank is concerned about bank operating costs involved in deregulating the 24-hour call deposit and wants the interest rate on the deposit unchanged.
Managing director David Yau said banks were worried more about the operating cost than the interest cost.
Union Bank, owned by China Merchants Group, intends to use a ISO9000 quality control system to improve operation efficiency.
Union's chairman, Jiang Bo said the bank would celebrate its 30th anniversary this year, having been a member of China Merchants Group for nine years.
He said the consistent policy of the bank was to satisfy customer demand for better services and introducing the ISO9000 would be the way forward.
Speaking at the signing ceremony for its five-year $400 million certificates of deposits, he said funds raised would be used for general purposes and to achieve a better balanced deposit base.
