Bank of China to open branch here

8 July 2017 12:10 pm - 5     - {{hitsCtrl.values.hits}}

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Bank of China, one of the largest State-owned financial institutions in China is expected to open a branch in Colombo this year, its first in South Asia, a spokesman said yesterday.

The banking authorities are in contact with the Sri Lankan authorities to finalize the process. A Chinese embassy spokesman told Daily Mirror that it would be opened with an initial capital of US$90 million. He said the bank's presence in Colombo would facilitate Sri Lanka’s financial transactions with China.

It has overseas branches in the United States, Canada, South Africa, Kenya and the United Kingdom.

Sri Lanka assured cooperation with China’s One Belt, One Road’ initiative and is currently developing a financial and logistics hub in the Indian Ocean. (Kelum Bandara)

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  • Kadiya Saturday, 08 July 2017 06:34 PM

    And JO to protest!!!!!

    ceylon Saturday, 08 July 2017 08:06 PM

    wellcome news.one indication that srilanka is ahead of other south asian countries as invoming international financial center. via DM Android App

    nick Saturday, 08 July 2017 08:30 PM

    oops Ravi missed out on this managala is reasonable on commission via DM Android App

    Dee Saturday, 08 July 2017 09:25 PM

    A logical call. Much better decision than us going and opening one in Seychelles.

    Daily Boru Monday, 10 July 2017 11:22 AM

    Another reason for the GMOA to strike.


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