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ANZ goes local
Source: Xinhua |
September 22, 2010, Wednesday
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Print Edition
Print Edition
ANZ Banking Group Ltd, the fourth-largest bank in Australia, will begin lending and banking operations in China on October 1 after its wholly owned ANZ Bank China Co received regulatory approval.
Final regulatory approval for the establishment of ANZ China was granted by the China Banking Regulatory Commission earlier this month, the Australia and New Zealand banking Group Ltd, commonly called ANZ, said yesterday.
ANZ China will be a locally incorporated entity, allowing it to apply for a yuan licence to support domestic retail and business clients in China, plus provide a range of foreign currency and yuan banking services for ANZ's institutional and network clients.
Final regulatory approval for the establishment of ANZ China was granted by the China Banking Regulatory Commission earlier this month, the Australia and New Zealand banking Group Ltd, commonly called ANZ, said yesterday.
ANZ China will be a locally incorporated entity, allowing it to apply for a yuan licence to support domestic retail and business clients in China, plus provide a range of foreign currency and yuan banking services for ANZ's institutional and network clients.
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