ANZ opens branch in Hangzhou

Australia and New Zealand Banking Group Ltd said on Friday that it opened a branch in Hangzhou, capital of Zhejiang province, as part of the bank's continued expansion in the Yangtze River Delta region.

"With a large number of private businesses and Asian companies in Zhejiang province and its increasing connectivity with Australia and New Zealand, it makes sense for ANZ to expand here to support the growing trade, investment and people flows across the region," chief executive officer Mike Smith said at the opening ceremony.

The bank's Hangzhou branch will cover the entire Zhejiang province and offer a full range of products and services to corporate and individual customers.

ANZ, one of the four largest lenders in Australia, has had a presence in China since 1986 and is the only Australian bank to be locally incorporated in China.

In addition to the new branch, it is present in Shanghai, Beijing, Guangzhou and Chongqing. It also has a fully owned rural bank in Liangping county, an operations hub in Chengdu and strategic partnerships with Shanghai Rural Commercial Bank Co Ltd and Bank of Tianjin Co Ltd.

hewei@chinadaily.com.cn