21 November 2011
National Australia Bank (NAB) today officially opened its first branch in China, strengthening its commitment to the region.
The branch, located in the Lujiazui Financial Centre, Shanghai, follows the granting of a license from the China Banking Regulatory Commission (CBRC) in June this year.
The branch will support existing Institutional, Corporate and Business Banking customers operating in or trading with China.
It will also provide support to Chinese Institutional & Corporate clients looking to operate or invest in Australia, New Zealand, the United Kingdom and the United States particularly in the Energy, Utilities, Natural Resources and Agribusiness sectors.
At the opening ceremony, Chief Executive Officer, Cameron Clyne said that the Shanghai Branch is an important part of NAB’s strategic approach to support clients in the Asian region.
“National Australia Bank has expertise across the Natural Resources, Energy & Utilities and Food and Agribusiness sectors which will be key areas of focus in China.
“The branch will be a further step to support our clients in commerce, trade and investment in China.
“It will further grow our Trade Finance capability across the Australasian region,” said Mr Clyne.
The branch will also support NAB’s growing capability throughout the Asia region supplementing branches in Hong Kong, Singapore and Japan.
The branch will be managed by Mr Danny Armstrong and supported by an experienced local and international team with extensive experience in Chinese Banking.
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