UNB allowed to set up office in China

ABU DHABI — Union National Bank (UNB) received approval from the China Banking Regulatory Commission to establish a Representative Office in Shanghai, China. The setting up of a Shanghai Representative Office is a first for any UAE bank, making Union National Bank the first UAE bank to enter the vast, high-growth and promising Chinese banking sector.

By A Staff Reporter

Published: Wed 21 Nov 2007, 9:04 AM

Last updated: Sat 4 Apr 2015, 11:20 PM

Mohammad Nasr Abdeen, UNB's Chief Executive Officer pointed out that both China and the UAE are extremely fast developing economies enjoying bilateral trade between them in 2006 in excess of $14 billion.

UNB, he said said intends to capitalise fully on the commercial potential of this trade flow and also on the bilateral investment flows that originate from both government and corporate entities seeking to establish commercial bases and relationships.

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