UOB (China), a wholly-owned subsidiary of Singapore-based United Overseas Bank (UOB), has expanded its services by opening a new branch in Tianjin.
The new branch will be led by Ku Nyet Fan, general manager, who has 23 years of banking experience. Tianjin branch currently offers a range of foreign currency banking services to foreign and local enterprises and individuals. It also offers RMB banking services to foreign and local enterprises and foreign individuals. These banking services include deposits, loans, project and trade financing, guarantees and bills discounting, and foreign currency exchange.
The group has claimed that Tianjin branch is the first branch that UOB (China) has opened after its local incorporation in China, expanding its presence in the country to a total of 10 branches and sub-branches. The firm expects that the Tianjin Branch will leverage its branding and distribution network to reach out to the China market, especially in the Bohai Rim economic zone.
Wee Cho Yaw, chairman of UOB Group, said: “UOB (China) Tianjin branch intends to play an active role in the vibrant business development of this fair city. We will work closely with the Tianjin financial and business community to further strengthen the strong ties between Singapore and Tianjin. Through our strong network in Southeast Asia including Singapore, Malaysia, Indonesia and Thailand, we are well-placed to strengthen the business links between China and Southeast Asia.”
