HBL opens branch in Beijing

KARACHI: Habib Bank Limited (HBL) became the first Pakistani bank to open a branch in Beijing, a statement said.

HBL Beijing offers a full range of products and services for the bank’s esteemed clients, it added. HBL’s presence in China will allow the bank to interact with State-Owned Enterprises (SOEs) and leading financial institutions involved in CPEC and across Belt and Road Initiative (BRI) corridors.

Upon commencement of business, HBL Beijing has become the second branch and its managing branch in China; both branches in Beijing and Urumqi are equipped with foreign exchange and RMB licence to better facilitate customers’ requirements in multiple currencies.

HBL remains grateful to the governments of Pakistan and China and the regulators for the trust and confidence they have reposed on the bank, through the opening of the branch, it said. China is a very important market for HBL not only in terms of the business in China and CPEC but also for the Chinese companies working on projects in countries across the HBL network.

The inauguration ceremony for HBL Beijing was attended by clients, regulators, and senior executives of the bank from across HBL’s international network.