Home / BUSINESS / Bank of China to open branch here

Bank of China to open branch here

Bank of China, one of the largest State-owned financial institutions in China is expected to open a branch in Colombo this year, its first in South Asia, a spokesman said yesterday.

The banking authorities are in contact with the Sri Lankan authorities to finalize the process. A Chinese embassy spokesman told local newspaper that it would be opened with an initial capital of US$90 million. He said the bank’s presence in Colombo would facilitate Sri Lanka’s financial transactions with China.

About neo

Check Also

Committee for updating petroleum prices once in three months

The cabinet of Ministers has granted approval to appoint a committee consisting of the officials …

Leave a Reply

Your email address will not be published. Required fields are marked *