New Beijing branch strategic and timely for Maybank

Maybank President and CEO, Datuk Seri Abdul Wahid Omar, describes the opening of its Beijing branch as strategic and timely.

The move will boost its Greater China operations on the back of robust Asean-China trade.

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 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 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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