BEA opens Urumchi branch

BEA opens Urumchi branch

09/18/2008, 10:03     [China Knowledge Press]     


Sep. 18, 2008 (China Knowledge) - The Bank of East Asia Ltd (BEA), the largest independent local bank in Hong Kong, has officially opened its Urumchi branch in Xinjiang Uyghur Autonomous Region, sources said. According to the Hong Kong-based lender's announcement, this will be the second branch BEA set up in the northwest region of China, after the Xi'an branch. It is also the first overseas bank in Urumchi. Reports said the new branch will help strengthen and boost BEA's banking business in northwest region of China and the central Asia. BEA said earlier that the new branch, which started construction since last April, is scheduled to commence trial operation as early as late August this year. It has passed review of relevant local authorities. The bank plans to add the number of its outlets to 75 by the end of this year. In May, it has inaugurated a branch in Tianjin, a coastal city in Bohai Rim Region.

 It also has started operations of its Shenzhen private banking service center since Jun. 30, the first overseas bank to enter this particular field of business in the city, So far, BEA has launched 17 branches in mainland China, according to industry sources.