Standard Chartered Bank opens new sub-branch in Wuhan

Standard Chartered Bank opened a new sub-branch in Wuhan on Friday, aiming to provide comprehensive financial services for small and medium-sized enterprises in the city as well as surrounding areas.

The bank is the first of its kind in the city of Wuhan, opened by foreign-funded lenders targeting the private economy. It's also the UK bank’s first newly opened sub-branch in China this year.

Zhang Xiaolei, president and vice chairman of Standard Chartered Bank (China), said the move demonstrates their long-standing commitment to the Chinese market.

Supporting the development of small and medium-sized enterprises has been a strategic business focus for the UK lender.

Based on the group’s global network and in-depth knowledge of the local market, the Wuhan Bund sub-branch will provide a diversified and comprehensive portfolio of products, including credit financing, capital management, investment services and cross-border trade services to boost the development of Wuhan small businesses in domestic and overseas markets, Standard Chartered Bank noted.