It was announced today that Bank of China have opened a new Dublin branch. The branch was officially opened at a ceremony held today in Dublin which was attended by the Taoiseach - Leo Varadkar TD, the Tanaiste and Minister for Enterprise and Innovation - Frances Fitzgerald TD, Bank of China Chairman - Tian Guoli and China’s Ambassador to Ireland - H.E. Dr. Yue Xiaoyong.
Bank of China is the world’s fourth largest bank by capital and is the most internationalised of China's banks with more than 574 branches, offices and outlets in 51 countries and regions, including China. Bank of China already has a presence in Ireland through its aircraft leasing operation, BOC Aviation (Ireland) Ltd, which will continue to operate as a separate business unit.
The Dublin branch will be focused on corporate lending with plans to build a diversified products and services platform in Ireland within two years. The target clients will be the Chinese companies operating in Ireland, Irish companies with interests in China and multinationals with large offices in Ireland.
Speaking today, Taoiseach Leo Varadkar said, "I am delighted to welcome Bank of China to Dublin. This investment is the type of high quality international investment we are seeking to attract in Ireland under our IFS2020 Strategy. It is a strong endorsement of Ireland's outward focus and of our commitment to embrace new business opportunities. Ireland and China enjoy a long and fruitful relationship and Bank of China's investment is yet another sign of the very significant growth of economic links between Ireland and China in recent years."
Chairman of Bank of China Limited, Tian Guoli added, "China’s ‘One Belt, One Road’ initiative has unveiled a new round of globalization and we see Ireland as a perfect fit with this great endeavour. As the most active Chinese bank in the international markets, the opening of our Dublin Branch will support the vision and determination of the Irish people. I believe that a constant exchange of ideas and sharing of wisdom provides the best solution to the uncertainty of the world today."
Source: www.businessworld.ie
