You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Bank of China to open subsidiary in Romania on Dec 16

Bank of China to open subsidiary in Romania on Dec 16 Source: Bank of China

BUCHAREST (Romania), December 6 (SeeNews) - Bank of China, the fourth biggest bank in the world, said it will open a subsidiary in Romania on December 16.

The opening of the new unit marks the 70th anniversary of diplomatic relations between Romania and China, the bank said in a press release on Thursday.

Guo Lixin will lead the subsidiary's operations in Bucharest.

Bank of China is the fourth biggest bank in the world, according to latest data compiled by financial website The Banker.

The bank has operations across the Chinese mainland as well as in 57 countries and regions. It was was listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange in June and July 2006 respectively.

At end-September there were 34 banks operating in Romania, whose combined profit fell by 13.2% year on year to 5 billion lei ($1.16 billion/1.05 billion euro) in the first nine months of the year, latest central bank data showed.

(1 euro=4.7785 lei)

Compare