Yucheng Technologies (NASDAQ: YTEC) has announced major contract wins with Bank of Shanghai to provide follow-on ancillary solutions to its online banking system previously built by Yucheng in 2004.

Founded in December, 1995, Bank of Shanghai is one of the leading city commercial banks in China, and is the first city commercial bank to set up cross-regional branch outlets. In 1999 and 2001, it received equity investments from International Finance Corporation (a member of the World Bank Group), HSBC, and Hong Kong-based Shanghai Commercial Bank. By the end of 2006, the Bank had a total asset of 270 billion RMB (approximately 36.5 billion US dollars), with 208 branch outlets.

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