ANZ continues expansion in China opens sub-branch in Shanghai (PDF 68kB)
ANZ today announced the opening of a new sub-branch in XinTianDi, the affluent shopping district of Shanghai, as part of its strategy to to provide more convenient banking to customers in the Yangtze River Delta.
ANZ Deputy Chief Executive Officer Asia Pacific, Europe and America, Alistair Bulloch, said the sub-branch was part of a growth plan for China that included seeking local incorporation and opening more than 20 outlets in China by 2012.
ANZ currently has three branches in China and the expansion reflects ANZ’s strong commitment to continue investing in China and to serve the growing banking needs of local individual and business customers.
Officially opening the new sub-branch today, Mr Bulloch said: “The new ANZ XinTianDi subbranch will serve individual and small enterprise clients with easy access to banking services from a location convenient to Shanghai’s busiest commercial street.
“The new sub-branch features ANZ’s new branding which reflects our commitment to understanding what is going on in our customers’ world and making banking more convenient and less complex.”
ANZ’s XinTianDi sub-branch provides a full range of local and foreign currency services to small enterprises and individual foreigners, and assists local residents with their foreign currency personal banking needs and local currency deposits of CNY1 million and above. It is located 220 Madang Road, Shanghai, China. Opening hours are Monday to Friday, 9:00am to 4:30pm.
Mr Bulloch said the XinTianDi sub-branch would be followed by a sub-branch in Beijing and local incorporation, subject to regulatory approval. “ANZ is committed to playing a role in the ongoing development of China’s banking sector by introducing new products and services for our customers,” Mr Bulloch said.
ANZ also launched today its first mortgage product for individuals, the China Home Loan, which provides mortgage loan services to non-Chinese passport holders who purchase owner occupied residential property in China.
Operating in China since 1986, ANZ has three branches in Shanghai, Beijing and Guangzhou, as well as strategic partnerships in two of China’s key growth regions – a 19.9 per cent stake in the Shanghai Rural Commercial Bank and a 20 per cent stake in the Bank of Tianjin – and a 100 percent ANZ-owned rural bank in LiangPing county, the ChongQing LiangPing ANZ Rural Bank Co Ltd.