Kuala Lumpur, 8 January 2008
At the start of the 2008 New Year, Hong Leong Bank received and hosted a Chinese delegation consisting of senior officialsof the Chengdu People's Government, Chengdu City Commercial Bank Co Ltd and China Banking Regulatory Commission Sichuan Province from 3 rd to 9 th January2008. The delegation was led by Mr Liu Peizhi, the Executive Vice Mayor of Chengdu People's Government.
This marks the delegates' first official visit to Hong Leong Bank since the bank entered into an agreement to subscribe for new shares representing 20%equity interest of the enlarged capital in Chengdu City Commercial Bank Co., Ltd, a leading city commercial bank in western China in October 2007. Theacquisition is now pending regulatory approvals from the China Banking Regulatory Commission.
Over the course of the visit, the delegates toured various business management and operational areas as well as the sales and distribution franchise ofHong Leong Bank. The delegates were also introduced to the wider financial service offerings of Hong Leong Financial Group.
This visit cements for the Chinese delegates a more comprehensive understanding of the breadth and depth of the Hong Leong Bank franchise, itstransformation story and its value creating propositions for a win-win partnership with Chengdu City Commercial Bank. In conjunction with the visit, HongLeong Bank also hosted a dinner with its customers and key office bearers of various associations to promote bilateral relationships between bothcountries.
Chengdu City is the capital of the Sichuan Province of China, the fifth most populous city in China with a population of over 11 million, 5 million ofwhich reside in the city itself. Chengdu City is the centre for politics, economics, finance and culture in Sichuan. It has been declared as the hub forhigh-technology, business and trade, finance, as well as transportation and communication by the State Council for South-West China.
Chengdu City Commercial Bank has an extensive network and resources - it has 29 branches and 114 outlets located in Chengdu City. It has the fourth largestnetwork in the locality and its presence extends to 9 districts of Chengdu.
Press Release - 08/01/2008