Bank of China to enter in Czech market during 2015

Bank of China will open a branch in the Czech Republic before end of 2015, stated Office of Czech President on Sunday morning. During his official visit to China, Czech president addressed officials of the fifth largest bank in the world by market capitalization value and agreed on conditions.

So far, Bank of China’s only branch in Eastern Europe is located in Budapest, Hungary. It offers commercial and private banking services in Hungary since 2003.

Bank of China | Photo by Yves Doutreligne via Flickr

Bank of China | Photo by Yves Doutreligne via Flickr

Bank of China has over USD 1136  billion in assets, making it part of the Fortune Global 500 for the past 17 years. Right after Industrial and Commercial Bank of China it is the second largest lender in China overall. Its branches around the world also operates as a functional 24/7 clearinghouse for wire transfers and stop payments, allowing real-time payments to China.