UOB has opened a branch in China's Zhongshan City, furthering its commitment to the Greater Bay Area. It is one of the first foreign banks to do so.
UOB (China) became the first foreign bank to open a branch in Guangdong's Zhongshan City on Thursday, signaling the bank's commitment to China and confidence in Greater Bay Area(GBA)'s development plan, the lender said in a media statement on Thursday.
The new branch adds to six other branches that the bank already has in the GBA. «It strengthens our presence in South China and enables us to expand services to the west of the Greater Bay Area,» said Peter Foo, CEO of UOB (China).
Greater Bay Area
Following the announcement of China's GBA Blueprint in February to create an IT-led powerhouse in Southern China, UOB made plans to deepen its presence in the region. The GBA region includes Hong Kong, Macau and nine cities in Guangdong province.
Christine Ip, CEO of UOB Greater China, said that the new branch is an «important addition» to its GBA network, as the bank continues to enhance connectivity between Greater China and Southeast Asia.
The UOB Shenzhen branch – UOB (China)'s flagship branch in the GBA – moved to bigger premises in October as it plans to add more professionals to the team. UOB also opened a Commercial Banking Centre in Hong Kong's central business district of Causeway Bay in April to better serve the needs of its clients in the GBA.
