Arab Today, arab today australian bank opens 2 more rural branches
Last Updated : GMT 17:55:05
Arab Today, arab today
Arab Today, arab today

Australian bank opens 2 more rural branches

Arab Today, arab today

Arab Today, arab today Australian bank opens 2 more rural branches

Zhengzhou - Xinhua

The Sydney-based Commonwealth Bank of Australia (CBA) has opened two more rural branches in central China\'s Henan Province, bringing its number of bank outlets in the major farming province to three. The two branches, located in the counties of Lankao and Dengfeng, were opened officially on Monday and Tuesday respectively, each having a registered capital of 30 million yuan (4.7 million U.S. dollars) and 50million yuan. Rural banks would be one of the CBA\' s priority areas in China, and CBA would not only bring capitals but also advanced experience and management to China, Simon Blair, head of International Financial Services of CBA, said at the opening ceremony of the Lankao branch on Monday. CBA will speed up expanding its rural bank network in Henan, said Chen Qing, head of institutional banking of CBA\'s north Asia business, adding that the bank is aiming to have 10 rural branches by the end of 2012. CBA opened its first rural branch in Henan in Jiyuan City in February this year. CBA\'s branches in Henan offer lending, deposit and fee-based services to small- and medium-sized enterprises and business owners, said Chen. \"The establishment of CBA\'s branch in Lankao will help improve its backward banking business,\" said Li Fu\'an, head of the Banking Regulatory Commission of Henan. Rural financing in Henan, a key farming province with more than 100 million people, is relatively undeveloped. A report published by the Manila-based Asian Development Bank (ADB) in January said China\'s reform of the rural financial sector had been slow, exacerbating the economic gap between rural and urban regions. It also said the demand for rural finance in China had largely been met by local branches of large urban banks at high costs with high risks. Founded in 1911, CBA, Australia\'s largest bank by market capitalization, entered the Chinese mainland market in 1994. It is the first foreign bank to gain approval to open a county bank in Henan.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australian bank opens 2 more rural branches Arab Today, arab today australian bank opens 2 more rural branches

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australian bank opens 2 more rural branches Arab Today, arab today australian bank opens 2 more rural branches

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday