Bank of China will begin operations in Romania in December, Romania’s National Bank (BNR) governor Mugur Isarescu announced during a speech on the occasion of the 70th anniversary of Romania-China's bilateral relations, Hotnews.ro reported.

“I would like to point out the presence of Mr. Guo Lixin, general manager of this branch, and I wish him success in the activity,” said Isarescu.

Bank of China, one of the largest in the world, notified BNR earlier this year about its intention to provide services directly in Romania.

In one of its first direct operations on the local market, Bank of China contributed to the EUR 200 million revolving loan extended by a syndicate of banks to real estate developer Globalworth.

The loan was arranged by JP Morgan, and the participating banks included Banca Transilvania, Bank of China, BRD Groupe Societe Generale, Deutsche Bank, JPMorgan Chase, Intesa Sanpaolo and Raiffeisen Bank International.

Bank of China, founded in 1912, is one of the largest banks in China, with assets of nearly USD 3 billion (4th place in the world) and over 300,000 employees worldwide.

(Photo: tonyv3112/ Dreamstime.com)

editor@romania-insider.com