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| Bank of China (UK) |
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Overview:
London, the world's financial centre, combines exciting diversified cultures and amazing financial power. As well-known as Wall Street in New York, City of London has more than 200 foreign banks, over 600 foreign companies listed on the London Stock Exchange and one-third European headquarters of Fortune 500 companies. More than £4 trillion in funds under management in the UK with over US$1.9 trillion foreign exchange turnover each day in London. Here, right in the centre, Bank of China London Branch has developed and explored since 1929, always being with its customers and contributing to trades between Britain and China.
On 4th November 1929, Bank of China set up a office which was named "Bank of China London Agency" in London, this was not only the first branch of the Bank to be set up overseas, but was also the first overseas financial institution formed by any Chinese bank. In this case, the founding of the London branch was truly an historical landmark. The Bank of China in London has continued to expand steadily over the years, earning a good reputation and becoming an important member of the City's banking community.
2007, when it happened to be the 78th anniversary of London Branch, the Financial Services Authority approved Bank of China to establish a UK subsidiary - Bank of China (UK) Limited. Its establishment has been significant to the development of Bank of China Group in both Britain and Europe. Since then, UK subsidiary has run alongside London Branch, striving for excellence, and technological advancement, while continuing to maintain a competitive edge and to promote the Bank's image and reputation in the UK. New sub-line of the registered capital reached two hundred million pounds, can also carry out retail and corporate business, and in the City of London, China Town, Birmingham, Manchester and Glasgow has a network.
From 2009, the Bank of China (UK) Limited use mortgage loans as the starting point, expand the local mainstream market, let our mortgage loans become a competitive product in the local market first time in history. In order to meet the needs of overseas business, on 16th September 2010, Bank of China London Branch and Bank of China (UK) Limited has moved into newly purchased and refurbished office building – 1 Lothbury, near to the Bank of England. In the future Bank of China (UK) Limited will continue to strengthen the linkage between China and abroad, expanding large wholesale business, accelerate business development, support Chinese enterprises "going out" plans, promote the development of RMB business, ensure that Bank of China can provide full banking services and effective financial services in London and throughout the UK. Bank of China (UK) Limited will further take root and provide service in UK, continuously being the bridges of economy and trade, friendship, and cooperation from UK and China. |
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