Ka Wah Bank plans to invest more than $100 million in its retail banking business over the next 18 to 24 months, aimed at winning a larger share of an increasingly competitive market. Newly appointed executive vice-president Doreen Chan Hui Dor-lam said the investment would be used to implement a package of reform measures designed to improve the delivery of products and processing of transactions. The 35-branch bank, which is 57.89 per cent owned by Beijing-based China International Trust and Investment Corp (Citic), will soon launch a new corporate identity befitting its forthcoming name change to Citic Ka Wah Bank. Chairman Peter Kwok Viem had said earlier the change was designed to better reflect its 'revitalised image and culture, and the strengthened bonding with its majority shareholder'. Mrs Chan yesterday said the bank would refurbish all branches in line with the new image. The investment will also revamp the bank's marketing strategies, distribution systems for its products and services, staff training programmes and operation systems. Besides offering normal banking services through its branches, the bank will also look into new delivery channels including electronic, telephone, automatic teller machines and interactive television media. Ka Wah raised $1.97 billion last year from two share sales. Most of the shares were subscribed by its parent company. The reform package would take about three years to implement, Mrs Chan said, adding that further investment would be committed when necessary. She said besides the injection of new capital, Citic would help the bank by referring to its customers from the mainland. She said Ka Wah had been given a high level of autonomy in developing its retail business and in the setting of its own performance targets.