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Maybank opens Beijing branch

Maybank opens Beijing branch

(19 October 2012 – China) Maybank has opened its Beijing branch this week in a move the bank’s president and chief executive, Datuk Seri Abdul Wahid Omar describes as strategic and timely. Maybank's Beijing branch is its third in the Greater China region, after Hong Kong and Shanghai.

'It has always been our aim to expand our network in China and the granting of a licence for a branch in Beijing by the China Banking Regulatory Commission (ABRC) in May this year marked a milestone for Maybank,' said Abdul Wahid.

'We are now well positioned to leverage on our three branches to capture opportunities in financing and corporate banking business within the region,' he added.

Maybank Beijing branch has a paid-up capital of US$32 million (A$30.2 million) and will focus on wholesale banking services denominated in foreign currencies, primarily in US dollar.

These include foreign currency loans and advances, foreign currency guarantees, trade financing, documentary credit and collection, foreign currency deposits and project financing.
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