HBL was the first Pakistani bank to open a branch in Beijing, China’s capital city, and serve customers there. Clients, regulators, and senior executives from across HBL’s foreign network attended the inaugural ceremony for HBL Beijing. Jameel Ahmad, Deputy Governor of the State Bank of Pakistan, Sultan Ali Allana, Chairman of HBL, Muhammad Aurangzeb, President and CEO of HBL, as well as senior executives and HBL customers, virtually attended the ceremony from Pakistan. HBL Beijing provides a wide selection of goods and services to the Bank’s valued customers.
HBL is grateful to the governments of Pakistan and China, as well as the regulators, for their faith and confidence in the Bank as a result of the branch’s opening. HBL is the first and only bank from Pakistan to open a branch in Beijing, and one of only three banks from South Asia and the Middle East and North Africa to provide end-to-end RMB intermediation in China. HBL Beijing became HBL’s second branch and managing branch in China when it opened for business; both branches in Beijing and Urumqi are fitted with foreign exchange and RMB licences to better serve customers’ needs in multiple currencies.
“HBL’s journey in China began in 2005 when we formed our Representative Office in Beijing,” said Sultan Ali Allana, Chairman of HBL.
This was followed by the establishment of a branch office in Urumqi in 2017 and the launch of our branch office in Beijing today.
As we grow our China franchise, it is an incredibly proud moment for us, and we look forward to playing a key role in promoting regional trade and serving our valued customers through HBL’s global network.”
“China is HBL’s second home market, and we will expand our business in the country,” said Muhammad Aurangzeb, President & CEO of HBL, in response to the branch’s opening. The lynchpin of HBL’s foreign policy remains China.
We thank the regulators’ decision to give us a branch licence. They are excited about the growth of market-based capabilities and the motivation of financial institutions like HBL to offer best-in-class products and services to their customers.
HBL is Pakistan’s largest CPEC-related financer, and the Bank’s presence in China has given us a unique opportunity to link our clients across the HBL network directly with Chinese businesses.”