China: HSBC opens branch in Hangzhou
The Hongkong and Shanghai Banking Corporation Limited has further expanded its service network in mainland China to 25 outlets – the largest of any foreign bank – following the opening of its new Hangzhou Branch today.
Richard Yorke, Chief Executive Officer China at The Hongkong and Shanghai Banking Corporation Limited, said: “The opening of our Hangzhou Branch is a major step for our organic growth in mainland China.
At the heart of the Yangtze River Delta area, Hangzhou has attracted considerable overseas and domestic investment in recent years and offers great potential for growth. HSBC is committed to meeting our customers’ growing demand for first-class banking services in Hangzhou and the surrounding Yangtze River Delta area.” Located in a prime location in Hangzhou’s financial and commercial hub, the new HSBC Hangzhou Branch offers a comprehensive range of corporate, commercial and retail banking services in foreign currency to domestic and overseas customers, including local and foreign-invested enterprises, Chinese citizens, foreign nationals and residents from Hong Kong, Macau and Taiwan. Premier services, HSBC’s global wealth management proposition for retail banking customers, are also available at the new branch to meet the increasing wealth management demand of local residents. For added customer convenience, the branch is equipped with a Self-Service Centre, providing 24-hour automated banking services. HSBC’s network in mainland China currently comprises 25 outlets, including 13 branches (in Beijing, Chengdu, Chongqing, Dalian, Guangzhou, Hangzhou, Qingdao, Shanghai, Shenzhen, Suzhou, Tianjin, Wuhan and Xiamen) and 12 sub-branches (in Beijing, Guangzhou, Shanghai, Shenzhen and Tianjin). Approval has been obtained to open a branch in Xi’an this year. HSBC’s China head office is based in Pudong, Shanghai. –www.theasianbanker.com (August 30 2006)–