Mar. 5, 2009 (China Knowledge) - Ping An Bank Co Ltd, the banking unit of Ping An Insurance (Group) Co<601318><2318>, plans to issue 2 million credit cards this year, up from 1.2 million in 2008, in a bid to boost its credit card business amid the global financial crisis, the Shanghai Daily reported.

The Shenzhen-headquartered bank will open two to three new outlets in 2009 to lay a sound base for its credit card business, according to Liang Yaolan, deputy general manager of the bank's credit card division.

Ping An Bank, which last week renamed itself from Shenzhen Ping An Bank, recently secured approval from the China Banking Regulatory Commission (CBRC) to officially open its new branch in Hangzhou, capital of East China's Zhejiang Province, according to China Knowledge's earlier report.

The new branch is Ping An Bank's sixth one in the country.

The bank, with a registered capital of RMB 5.46 billion, has already opened branches in Shenzhen, Shanghai, Fuzhou, Quanzhou and Xiamen, etc.