The United Overseas Bank (UOB) Group, a Singapore-based financal services firm, has opened a new sub-branch in Beijing. The bank said that the new UOB (China) Beijing Dongcheng sub-branch offers a range of foreign currency banking services to all customer segments.
The new sub-branch 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 new sub-branch will be led by Lim Lian Kian, who has 13 years of banking experience.
Wee Ee Cheong, deputy chairman and CEO of UOB Group, said: “Just two weeks ago, UOB (China) Tianjin Branch was officially opened. Our network in northern China now comprises three branches and one sub-branch in Shenyang, Tianjin and Beijing. This means that we can better meet the financial needs of our customers in China, help to build business links between the business communities of southeast Asia and China, and assist local enterprises looking at expanding beyond China.
“Dongcheng business district is one of the prime areas earmarked for development by the Beijing municipal government. The geographical location of the district offers great potential in terms of customer segments and for developing the retail banking business. That’s what attracted us to set up our first Beijing sub-branch in the district.”
