BoC establishes Chicago branch
Date: Jan 08, 2013
Categories: Transaction Banking
December 29th 2012 - Bank of China Chicago Branch officially opened on December 27, becoming the fourth branch established in the U.S. after the New York Branch, the New York Chinatown Branch and the Los Angeles Branch.
The City of Chicago, with a population 2.84 million, is located in Illinois, the north-central U.S. State. As the largest cosmopolitan city in the central U.S., it has the busiest air traffic hub of North America and is the world's fifth largest intermodal container port. Over 1,500 multinational companies and more than 20 China-funded large enterprises operate here.
Bank of China entered the U.S. market in 1981. After the establishment of the Chicago Branch, Bank of China’s service will cover the Midwest region of the U.S where there is a large volume of trade with China. In addition to established branches in California and New York, Bank of China’s network in the U.S. will cover both the eastern and western markets of the country, and its banking service capabilities will be boosted significantly.
The main business scope of the branch includes corporate deposit and remittance, corporate credit, international settlement, trade financing, etc.
Re-disseminated by The Asian Banker