Haitong Bank has indicated to Macau News Agency that establishing a branch in Macau is part of plans to expand into the Greater Bay Area.
The bank headquartered in Lisbon was authorised to establish a local branch via a Chief Executive dispatch on July 19, with the bank telling MNA the authorisation was the culmination of the regulatory process required after approval by the Portuguese central bank Banco de Portugal.
“The establishment of the Macau Branch is of crucial importance for Haitong Bank’s global organization to more effectively accommodate and implement its strategy of business,” Haitong’s CEO, Wu Min, told MNA on his reply.