BELGRADE (Serbia), October 26 (SeeNews) – Bank of China, the fifth largest bank in the world, is set to open a branch in Serbia at the start of 2017 to provide financing to Chinese and local companies implementing joint projects on the markets of third countries, Serbian media reported on Wednesday.
The Hungarian unit of Bank of China had filed a request with Serbia's central bank (NBS) on October 19, seeking preliminary approval to set up a bank in the country, news daily Novosti reported.
NBS told Novosti that the founder planed to have all legal procedures completed by the end of this year so that the new bank can begin operating in early 2017, the daily added.
Serbia's unit of Bank of China will provide financing to domestic and foreign companies.