By establishing banking operations in China, Handelsbanken has strengthened its position as the Nordic bank with the strongest presence in Asia. The branch, located in China's financial centre Shanghai, started operations in early August. The banking license was obtained from China Banking Regulatory Commission on 28 June 2005.

 

The manager of the Shanghai branch, Johan Andrén, has long experience of banking in China. He was chief representative at the Taipei Representative Office between 1994 and 1997, after which he headed Handelsbanken's Beijing representative office until 2003.

 

Handelsbanken in China will be targeting subsidiaries of Nordic and UK companies located in China, as well as companies involved in trade between the Nordic and UK area and China. The Chinese market offers large opportunities for banking business due to the rapid expansion of foreign investments in China and trade with China.

 

The services which will be offered in China are loans, trade finance, guarantees, foreign exchange and payments.

 

"Our aim is to provide a full range of banking services in China to our Nordic and UK customers. By opening a branch in China, we will be able to provide even more value to our customers who have business in Asia," says Johan Andrén.

 

The branch is located on the famous Bund, along the water front of Huangpu river, in central Shanghai. The address is Bund 12 Building, Zhong Shan Dong Yi Road.

 

The press release can be downloaded from the following link: