According to a source close to the pitch, the formal announcement should be released before Chinese New Year.
Carat, the incumbent media agency of two years, and Maxus Shanghai were in the final round of the pitch that took place last month.
“BoComm now has a new creative and media agency team, and is striking to push for new thinking and breakthough in its upcoming marketing communications," the source added.
IPG Group was appointed as the advertising AOR for Bank of Communications' credit card business in December, following a four-way pitch with Leo Burnett, Bates and Publicis. IPG replaced the incumbent agencies Leo Burnett and M&C Saatchi, which shared the creative account.
The new media agency will start working on the account immediately after Chinese New Year.
Founded in 1908, Bank of Communications is one of the four oldest banks in China. In 2005, it became the first Mainland Chinese bank to be listed in the Hong Kong Stock Exchange.