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Westpac Banking Corporation (ASX:WBC) is expanding its Chinese footprint, having received clearance to open its second branch in China.
The China Banking Regulatory Commission has given the green light for Westpac to open a branch in Beijing next month.
Its first branch was opened in Shanghai in 2008 and, in the medium term, Westpac plans to open an additional two branches.
The bank says China is a strategically important market and Westpac is committed to investing in the region and supporting Chinese corporate, institutional and private bank customers.
In the six months to 31 March 2011, Westpac reported a net profit of $3.9 billion.
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$39.03 |
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Mkt cap ! $133.4B | |||
| Open | High | Low | Value | Volume |
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| WBC (ASX) Chart |