Hang Seng Bank, one of the largest banks in Hong Kong, will open additional branches to lure more clients on the mainland, according to a bank official.
"Hang Seng China had won local regulators' approval to set up five additional sub-branches in the cities of Shunde, Zhuhai and Jiangmen in Guangdong province, and in Beijing and Tianjin this year," said Hang Seng Bank (China) Limited Vice-Chairman and Chief Executive Dorothy Kwan at therecent launching of the bank's Xiamen Branch in East China's Fujian province.
"For us, the opening of the Xiamen Branch marks a strategic step in our mainland layout, as Xiamen is a key city located in the West Coast Economic Zone, connecting both the Yangtze and Pearl River Deltas," she said.
Hang Seng China saw a rapid growth in profits last year, amounting to HK$480 million ($68.1 million), with a 34 percent increase in deposits and a 21 percent increase in individual accounts.
Kwan attributed the increase to mounting demand from the cross-border yuan trade settlement, which grew last year.
Hang Seng China currently operates 40 branches and sub-branches in 15 mainland cities, employing 1,800 staff.
-By Ma Zhenhuan (chinadaily.com.cn)