UOB gets nod to open FTZ branch
Print Edition
Singapore’s United Overseas Bank has received preliminary approval from the regulator to open a new sub-branch in the pilot free trade zone in Shanghai, becoming the seventh overseas lender to participate in China’s latest financial reforms.
Citi, DBS, HSBC, Bank of East Asia, Hang Seng Bank and Deutsche Bank received nod from the China Banking Regulatory Commission to establish a branch in the FTZ earlier.
UOB currently operates 13 outlets on China’s mainland. A new branch opened on the Bund in Shanghai yesterday, targeting customers with net asset above 1 million yuan (US$164,000).
The bank also plans to add an additional sub-branch in Beijing this year and a branch in Chongqing in the second quarter of next year, Wee Ee Cheong, the banking group’s vice chairman and chief executive officer, said in Shanghai yesterday.
“About 8,000 companies have set up offices in the new free trade zone and a number of them are Fortune 500 firms, which is a very good source of customers with high quality and will benefit foreign banks like UOB,” he said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
