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National Bank of Kuwait opens branch in China

National Bank of Kuwait SAKP became the first lender from the Gulf Cooperation Council to open a branch in China after transforming its existing representative office in Shanghai into a fully fledged branch.

The Kuwaiti lender had previously been limited to nonoperational activities such as client referral, information gathering and market research after setting up a representative office in Shanghai in 2005.

The GCC is made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.