BANK OF COMMUNICATIONS OKED TO OPEN THREE OVERSEAS BRANCHES
AsiaInfo Services, June, 2009
AsiaInfo Services 06-12-2009 Bank of Communications OKed to Open Three Overseas Branches Jun 12, 2009 (SinoCast Daily Business Beat via COMTEX) -- Bank of Communications (SHSE: 601328, SEHK: 3328), an established commercial lender in China, gets go-ahead from the China Banking Regulatory Commission to open branches in Ho Chi Minh City in Vietnam, San Francisco in the US, and Sydney in Australia. The bank created the New York Branch in 1991, registered in the federal authority of the US as wholesale branch to provide services for industrial and commercial businesses around the country, as well as the Sino-US trade.
So the branch in San Francisco will be the second one in the US. The Federal Reserve of the United States lifted the threshold of market access in the...
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