Karachi - HBL became the first Pakistani bank to open a branch and serve clients in Beijing, China’s capital city.
The inauguration ceremony for HBL Beijing was attended by clients, regulators and senior executives of the Bank from across HBL’s international network. Deputy Governor, State Bank of Pakistan, Jameel Ahmad, HBL Chairman Sultan Ali Allana, - HBL President and
CEO Muhammad Aurangzeb, along with senior executives and HBL’s customers, virtually joined the ceremony. HBL Beijing offers a full range of products and services for its clients.
HBL officials expressed their gratitude to the Governments of Pakistan and China and the regulators for the trust and confidence, reposed in the Bank, through the opening of the branch.
HBL has created history by being the first and only bank from Pakistan to have a branch in Beijing and One of the three banks from South Asia and MENA region to offer end-to-end RMB intermediation in China. Upon commencement of business, HBL Beijing has become HBL’s second branch and its managing branch in China, both branches in Beijing and Urumqi are equipped with foreign exchange and RMB licence to better facilitate customers’ requirements in multiple currencies.
HBL’s presence in China will allow the bank to interact with State-Owned Enterprises (SOEs) and leading financial institutions, involved in CPEC and across Belt and Road Initiative (BRI) corridors.
Chairman HBL, Sultan Ali Allana said, “HBL’s journey in China began in 2005 when a Representative Office in Beijing was opened by the HBL. This was followed by the establishment of branch operations in Urumqi in 2017, and today we mark the commencement of our branch operations in Beijing. It is an extremely proud moment for HBL to playing a leading role in facilitating regional trade and serving our valued customers throughout HBL’s international network.”
Commenting on the branch opening, President and CEO HBL Muhammad Aurangzeb said that china is the second home market, and HBL will grow its business in the country.
He said that the HBL is the largest executor of CPEC related financing in Pakistan, and the Bank’s presence in China has put HBL in a unique position to connect the clients across the HBL’s global network directly with the businesses in China.”