Bank of America to Speed Growth in China After Doubling P
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Bank of America Corp., the second-biggest U.S. lender, will accelerate expansion in China after doubling profit and boosting its workforce in the world’s fastest-growing major economy last year.
The company plans to add as many as five branches in China over the next two to three years, from three outlets in Shanghai, Beijing and Guangzhou currently, Huang Xiaoguang, president of Bank of America NA China, said in an interview in Shanghai yesterday. He will raise growth targets in the unit’s three-year strategic plan to be presented to top management next week.