For­eign banks boost ex­pan­sion in China in post-cri­sis era

The Pak Banker - - Front Page -

BEI­JING: For­eign banks have strength­ened their ex­pan­sion ef­forts in China, which re­mains one of the fastest grow­ing economies in the world, as the global eco­nomic melt­down is ebbing.

"We plan to build 15 more branches in China within three to five years, and our tar­get clients are small and medi­um­sized busi­nesses," said Zhang Jinchen, pres­i­dent of the Philip­pines' Metropoli­tan Bank (China) Limited.

Metrobank has been in busi­ness in China since the 1990s, with branches and of­fices in Shang­hai and Bei­jing. In early 2010 it opened Metropoli­tan Bank (China) Limited in Nan­jing, be­com­ing the first for­eign bank to es­tab­lish its head­quar­ters in the city. The new bank serves as the base for Metrobank's op­er­a­tions in China.

"We achieved a bal­ance of in­come and ex­pen­di­ture six months af­ter the open­ing and will see a profit at the end of the year," Zhang said. -PB News

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