Business

Thursday November 5, 2009

Hong Leong ties up with China bank


KUALA LUMPUR: Hong Leong Bank Bhd (HLB) has signed a finance co-operation agreement with China Development Bank Corp (CDB) to collaborate with each other in various areas including funding, financing opportunities, currency swaps, personnel exchange and training, as well as information exchange.

“This agreement effectively enables HLB to work closely with CDB, one of the three policy banks in China and one of the largest banks in China,” HLB group managing director and chief executive Yvonne Chia said in a statement.

She said HLB would assist CDB in market penetration, due diligence and coordination.

“HLB will be working hand in hand with CDB to share and enhance bilateral knowledge on the policies, regulations, financial market and economic development of both countries,” Chia added.

She said China today was a key market for HLB, and through the group’s 20% stake in Bank of Chengdu Co Ltd and cooperation agreement with CDB, “we have specific platforms to participate on the growth and the upside potential of the market in China.”


HLBANK : [Stock Watch] [News]

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