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In the initial period, the branch's private banking division will mainly offer diversified wealth management services to local high-end customers, with an investment lower limit of USD 1 million. BEA China Executive Vice President Cartier Lam said that the wealthy class in northwest China was enlarging in line with the region's fast growing economy, which is expected to keep its pace in the future.
Since it was qualified as a foreign-invested bank in 2007, BEA China has set up 18 branches, 48 sub-branches, and five 24-hour self-service banks in the country. Its arms in Shanghai, Beijing, Guangzhou, and Shenzhen are offering private banking services now.
In addition, the bank provided at least CNY 1 billion worth renminbi bonds for Hong Kong individual and institutional investors at the end of June 2009.
Source: www.hexun.com (September 24, 2009)
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