Summary Its entry into Pakistan will further strengthen bilateral relationship between Pakistan and China.
KARACHI (Dunya News) – The State Bank of Pakistan (SBP) on Monday allowed commencement of banking business to the Bank of China Limited. SBP had issued a banking license to the bank in the month of May 2017.
The Bank of China is a subsidiary of China Central Huijin, investment arm of the Government of China. It is the 4th and 5th largest global bank in terms of Tier-1 Capital and total Assets.
The bank is the second Chinese bank entering the Pakistani market. Its entry into Pakistan will further strengthen the bilateral relationship of Pakistan and China
The Bank of China aims to provide specialised banking services to meet financing needs of projects under the $55 billion China-Pakistan Economic Corridor (CPEC) by leveraging on its experience and global technology platform.
