Domestic

Bank of China reopens its branch in northern Malaysia

(Xinhua)
Updated: 2009-10-17 10:45

The Bank of China (BOC)(Malaysia) reopened its branch in Penang, a key business city in northern Malaysia on Friday.

It is BOC's second branch coming into operation in Malaysia this year after it set up a branch in August this year in Muar, Johor State in southern Malaysia.

BOC made its presence in Malaysia when it opened its first branch in Penang in 1939. After that, it also established four other branches in the country.

Yet, all the five branches suspended their operations in 1959.

BOC made significant growth in Malaysia this year after it started to operate two branches in the country, said Zheng Jingbo, general manager of the BOC (Malaysia).

BOC hopes its operations of new branches could provide convenience in banking services for local people, he said.

It also hoped it can serve as a gateway for local businesspeople who wished to penetrate into the China market, he said.

Beside the establishment or reopening of new branches, he said, BOC (Malaysia) also will add some newer and better products for local clients to serve better as a financial bridge between China and Malaysia.

The bank invited more than ten former staff members who worked for the BOC in Penang before it closed in 1959 to witness the historic moment of BOC's return to Penang.

The reunion of old BOC staff members after more than 50 years presented some moving stories as they met with each other with joys,presented old photos, and recalled their long-lost memory.