RBS plans to open 25 private branches in the country, with the first two expected to be open within the next month. One of these branches will be in Tiananmen Square in Beijing, and the other will be in Shanghai.
RBS has been able to establish its Chinese presence via its collaboration with Bank of China, which it set up last year. According to the report in the Scotsman, the new branches may be co-branded between the two banks.
According to Datamonitor research, the city of Shenzhen has the largest proportion of affluent individuals, but it is Shanghai that is seeing its affluent population as a percentage of total growing at the fastest rate.
