ABN AMRO announces the opening of a branch in Shanghai which will focus on supporting the bank’s corporate clients in the region. ABN AMRO has been present in Shanghai with a representative office since April 2012, and has received all necessary approvals from regulators for the representative office to become a branch.
Joop Wijn, ABN AMRO’s Managing Board Member responsible for Corporate Banking said: ‘With a branch we can offer a broader range of services to our ECT and Dutch corporate banking clients which is in line with our selective international growth ambitions. China is an important market given the country’s position as the leading global consumer of energy. Also, the Netherlands is China’s second largest trade partner in the European Union and ABN AMRO has historically been an important source of trade finance between the countries’.
Part of ABN AMRO’s Corporate Banking division, ECT (Energy, Commodities & Transportation) Clients provides financing solutions to global clients in sectors such as commodity finance, shipping, oil & gas and offshore oil services.
In addition to the presence in Shanghai, ABN AMRO has operated in Hong Kong for more than 110 years.