Shanghai Daily: Business - shanghaidaily.com
NANYANG Commercial Bank plans to at least double its network on the Chinese mainland in two years, after it opened its local incorporation yesterday to fully tap the mainland market. The bank said in Shanghai yesterday it would offer unlimited yuan services. The Hong Kong-based bank gained the approval to set up the local incorporation with a registered capital of 2.5 billion yuan (US$341 million) from the China Banking Regulatory Commission on December 4. The local incorporation was set up on December 14. Nanyang Commercial Bank has six branches and one sub-branch on the Chinese mainland in cities of Shanghai, Beijing, Shenzhen, Guangzhou, Dalian and Haikou. "Network expansion is a key part of the local incorporation's business development," a bank spokesman said. He said the bank would first focus on major cities in the Pearl River Delta, Yangtze River Delta and coastal areas in the geographic expansion. It will also seek opportunities to open outlets in
Shanghai Daily: Business - shanghaidaily.com
NANYANG Commercial Bank plans to at least double its network on the Chinese mainland in two years after it opened its local incorporation today. Nanyang Commercial Bank (China) Ltd opened in Shanghai yesterday to offer unlimited yuan services to Chinese. The Hong Kong-based bank gained approval to set up the local incorporation with a registered capital of 2.5 billion yuan (US$341 million) from the China Banking Regulatory Commission on December 4. Nanyang Commercial Bank has six branches and one sub-branch on the Chinese mainland in Beijing, Shenzhen, Guangzhou, Dalian, Haikou and Shanghai. "Network expansion is a key part of the local incorporation's business development," the bank said. The bank will first focus on major cities in the Pearl River Delta, Yangtze River Delta and the coastal area. It will also seek other opportunities in other areas. The bank will focus on personal financial planning products and services in retail banking. In corporate banking,