Arab Today, arab today bank of communications opens its first subsidiary in london
Last Updated : GMT 11:29:33
Arab Today, arab today
Arab Today, arab today

Bank of Communications opens its first subsidiary in London

Arab Today, arab today

Arab Today, arab today Bank of Communications opens its first subsidiary in London

Beijing - Xinhua

Bank of Communications, China\'s fifth largest lender, announced it opened its first overseas subsidiary in London Tuesday. It was a significant step for the bank to improve cross-border business and provide global wealth management services and financial services, said the bank\'s chairman Hu Huaibang. The London subsidiary will deal with deposits, lending, trade financing and bond investment, the bank said in a statement. A branch in San Francisco is expected to open thereafter, and a representative office in Sydney will become a branch, according to the statement. Currently, the bank has 11 overseas institutions in New York, Tokyo, Singapore and Hong Kong.

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