Photo: Peng Ziyang/Xinhua/AFP
Eurasia
29/09/2024 14:51
The Memorandum of Understanding aims to strengthen inter-bank activities, especially in the field of bilateral financing arrangements, and to promote trade in financial products through mutually opening market opportunities, the Hungarian MBH Bank writes in a statement.
The parties are committed to opening the door to a wider range of financial services for their respective customer bases and to exploring areas where their joint resources can create new business opportunities, reads the statement.
The signing took place at MBH Bank’s headquarters in Budapest. As reported by Hungary Today, Lin Jingzhen, Executive Vice President of Bank of China Limited, said, “MBH Bank is one of Hungary’s leading financial institutions, therefore we look forward to strengthening cooperation between the two banks. We believe that the partnership can contribute significantly to the development of financial, trade and economic relations between the two countries, in addition to creating mutual value.”
Bank of China is China’s most globalized and integrated bank, with institutions in 64 countries and regions in addition to China, and subsidiaries doing business in the Central and Eastern European region.
MBH Bank is one of Hungary’s leading credit institutions, serving nearly two and a half million retail and corporate customers.
Bank of China Hungarian Branch was established in April 2014 as a branch in Budapest with the official legal authority of the Beijing headquarters. Its activities focus on a wide range of core banking products, including deposit management, transaction management, lending and credit management, trade finance, international finance and treasury services. Bank of China Limited Hungary Branch was designated by the People’s Bank of China as the first RMB clearing bank in the Central and Eastern European region in 2015.