Tuesday, March 11, 2008

Bank of Beijing to set up sub-branch in Shanghai suburb

Bank of Beijing<601169> is seeking the official approval from the Shanghai bureau of the China Banking Regulatory Commission to launch its first sub-branch in Shanghai this year in the suburban area, said Chen Chengzhong, deputy president of the bank's Shanghai branch.

The Beijing-based bank set up its first branch in Shanghai last October and plans more outlets in the city, Chen said, adding that the bank will boost online banking services and open more ATMs to make up for its limited network in Shanghai.

Similar to other city commercial banks, the bank focuses mainly on small and medium enterprises (SMEs) businesses. It has set up a center to offer exclusive consulting services for SMEs to help them maximize their business opportunities and further expand their income channels.

Bank of Beijing ranks the top among the country's city commercial banks, as well as Beijing's first publicly traded lender with total assets exceeding RMB100 billion. It has already set up a branch in Tianjin and plans to further expand into cities like Xi'an and Shenzhen out of its headquarters, the bank said earlier.

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