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National Australia Bank Opens First China Branch in Shanghai

National Australia Bank Ltd. (NAB) opened a branch in Shanghai, its first in China, where it aims to benefit from growing demand for trade finance.

The opening of the branch, located in the Lujiazui Financial Center in Shanghai, follows the granting of a license from the China Banking Regulatory Commission in June, Melbourne- based National Australia said in an e-mailed statement today.

The bank has “expertise across the natural resources, energy and utilities, and food and agribusiness sectors which will be key areas of focus in China,” Chief Executive Officer Cameron Clyne said in the statement.

To contact the reporter on this story: Jacob Greber in Sydney at jgreber@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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