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Bank of Nanjing Opens Branch in Suzhou

On December 26, Suzhou Branch of Bank of Nanjing (BoN) held its opening ceremony in Crowne Plaza Suzhou. Located in the office building at Harmony Times Square, Suzhou Branch is the eighth branch of BoN in China.

Founded in February 1996, BoN is one of the earliest metropolitan commercial banks in China. In July 2007, BoN was listed on Shanghai Stock Exchange (SSE) as the first domestic metropolitan commercial bank to be listed on SSE. At present BoN has 59 sub-braches and a business department in Nanjing region and other branches in eight domestic cities like Beijing, Shanghai, Taizhou, Hangzhou and Suzhou. By the listing of "Asian Banks Competitive Rankings" announced by the Banker Magazine of UK in 2009, BoN ranked the 1st in China and the 2nd in Asia among the banks with a total asset below 40 billion U.S dollars.

As the eighth branch of BoN, Suzhou Branch is a strategic foothold for consolidating the Yangtze River Delta and a significant step in promoting the overall arrangement of strategic layout of the major economic regions in China. Suzhou Branch of BoN will make full use of its advantage to integrate into the local economic development strategy comprehensively in order to provide favorable financial service and support for the numerous local enterprises and citizens.  

At present there are more than 40 banking and financial institutions in Suzhou. Evergrowing Bank, Bank of East Asia, Kookmin Bank, Suzhou branch of Mizuho Cooperate Bank, Bank of Shanghai opened business in succession and primarily formed multi-functional, adequate system of banking institutions, which laid a solid function for the creation of a regional financial center in Suzhou.

In additional, varied financial and quasi-financial institutions are gathering fast in Jinji Lake-Rim CBD, which is the CBD of Suzhou as well. By the end of November this year, there have been 55 financial institutions and 133 other kinds of financial service institutions and, as a result, an adequate functional production system of modern finance is being formed with initial scale of financial industry. 

December 28, 2010


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