This is the first China Desk agreement that Bank of China has concluded with a European bank
(StockMarketWire.com) – Pohjola Bank, a Finnish financial services group, has agreed to intensify its co-operation with Bank of China, with the aim of providing Finnish companies already operating in China or planning to start China-based operations with competitive banking services in a more flexible way.
This operating model also supports Chinese companies in investing in Finland.
The operating model is based on two-way partnership, which means that Bank of China will open a China Desk in Pohjola’s branch office in Helsinki, while Pohjola will open a corresponding service outlet on Bank of China’s premises in Shanghai.
“This is the first China Desk agreement that Bank of China has concluded with a European bank. Thanks to more intense cooperation, we will have an excellent opportunity to improve Pohjola’s international service capabilities in accordance with our strategy. Chinese banking services and local expertise will be closer to our customers,” said Tarja Pitkänen, Senior Vice President in charge of Pohjola Bank’s international services.
Pohjola entered into a partnership with Bank of China in 2008. In addition to mutual customer referrals, the banks have agreed on co-operation in trade finance and international payment services.
Bank of China is the second largest bank in China and its most international full-service commercial bank with a total of some 11,000 branch offices.
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