BBVA has received the approval from the China Banking Regulatory Commission (CBRC) to open a branch office in Shanghai, the first one the bank opens in Mainland China. The Spanish bank has been present in this city for ten years through its representative office, which was opened in 2005.
The new branch, which will start operating on February 1, is tasked with supporting the bank's Asian customers seeking to operate or invest in countries in which BBVA is present and providing on-site services to foreign customers operating in China. The branch office will offer financial services related primarily to foreign trade, corporate finance and treasury products.
16 specialists with extensive experience in the Chinese banking sector will operate from this new branch, headed by Ms. May Yao. The branch office is located in Shanghai's third tallest tower, Jin Mao Tower, in the city's financial district.
BBVA’s presence in Asia
BBVA started to build its franchise in Asia more than thirty years ago and today is present in the main financial hubs. The new Shanghai branch joins the Group's five branches already operating in Hong Kong, Seoul, Taipei, Singapore and Tokyo. BBVA also has representative offices in Beijing, Mumbai and Sydney. This presence provides BBVA, which has a leading position in Latin America, with full operational capability in Asia.