Singapore lender OCBC further expands its presence in mainland China with the launch of a new branch in Wuhan.
OCBC officially opens a Wuhan branch in China under its wholly-owned subsidiary OCBC Wing Hang Bank China, according to a statement.
The new branch is part of broader plans to «capture the growing Greater China-ASEAN trade and investment flows». In total, OCBC’s network in China has now reached 19 branches across 14 cities.
Target Sectors
OCBC’s Wuhan branch will focus on supporting enterprises in the communication and technology, new energy, logistics, and real estate sectors.
Products and services offered include deposits and loans, corporate financing, cash management, international settlement, investment and wealth management, renminbi-settled cross-border trade, supply chain financing, online banking and green finance solutions.
«Given its strategic location, this branch will serve as our headquarters for Hubei province and the Central China region. It is therefore a key addition to our Greater China network which covers the Beijing-Tianjin-Hebei region, the Yangtze River Economic Belt and the Greater Bay Area,» said OCBC group CEO Helen Wong.
