OCBC opens 3rd sub-branch in Shanghai
By Mok Fei Fei, Channel NewsAsia | Posted: 19 November 2009 2048 hrs

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SINGAPORE: OCBC has opened its third sub-branch in Shanghai, marking its commitment to deepen its market penetration in China.

The bank said the opening is in line with the strategy to expand its network in the greater Shanghai, Pearl River Delta and the western China regions.

The new Shanghai sub-branch is located in northwest Shanghai, Jiading - which is a major industrial zone in Shanghai.

It is modelled after OCBC's Ubi Business Banking Centre in Singapore, and is the bank's very first full-service business banking branch in China.

OCBC is the first foreign bank to set up a full-service business banking branch in Shanghai's Jiading district.

The bank said it is confident of its ability to offer banking convenience to the local corporate customers who run their businesses in the district.

Earlier this month, OCBC also opened a new branch in Chongqing in southwest China.

With the opening of the new sub-branch in Shanghai, OCBC now has 11 main and sub-branches located in the Chinese cities of Beijing, Chengdu, Chongqing, Guangzhou, Shanghai, Tianjin and Xiamen. It also has a representative office in Qingdao.

- CNA/sc