Hang Seng Bank, the second-largest bank in Hong Kong, today announced it has received permission from the Guangdong branch of the China Banking Regulatory Commission (CBRC) to open its first cross-city sub-branch.
The sub-branch, located in Foshan, Guangdong, is among the first group of cross-city sub-branches approved by CBRC's Guangdong branch under the Closer Economic Partnership Arrangement between the mainland and Hong Kong.
Hang Seng has submitted an application to establish another sub-branch in Zhongshan, Guangdong, the bank said.
Hang Seng China has opened 37 banking outlets in 12 cities on the mainland, including 16 in Guangdong province.>
