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Bank of China begins operations in Pakistan

Published on November 09, 2017
Bank of China has formally started its operations in Pakistan.

  • The bank opened its first branch in Karachi 
  • The inauguration ceremony took place in the capital Islamabad and conducted by President Mamnoon Hussain.
  • The president said the opening of the bank indicated that the benefits of the China-Pakistan Economic Corridor (CPEC) would soon start reaching the masses.
  • Bank of China Chairman Chen Siqing, State Bank of Pakistan Governor Tariq Bajwa and Chinas Acting Ambassador to Pakistan Zhao Lijian were also present on the occasion.
  • The Bank of China was formally established in February 1912.
  • It was transformed into a wholly state-owned commercial bank in 1994
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