Ecobank opens Beijing office

The Ecobank Group has opened a new representative office in China’s capital Beijing, a move the bank says will  strengthen its international operations.

In a statement, the Togolese-based lender said December 6, 2012 that “Approval for the office was obtained from the China Banking Regulatory Commission (CBRC) in July.”

Ecobank said it also received its business registration certificate in October from Beijing’s Administration for Industry & Commerce.

The Beijing office, located in the Taikang International Tower in the heart of the central business district, is the latest addition to Ecobank’s international distribution platform, which includes an affiliate in Paris and representative offices in Dubai and London.

Mr Albert Essien, Ecobank’s Group Deputy Chief Executive Officer and Head of Ecobank Corporate and Investment Banking, said “China’s economic engagement in Africa has developed rapidly in recent years, in line with the Chinese government’s globalization strategy. Our representative office in Beijing will strengthen the cooperation between Ecobank and the Chinese financial authorities, as well as facilitating bilateral trade and investment.”

The banking group has indicated plans of opening similar representative offices in New York.

By Ekow Quandzie