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National Bank of Pakistan to expand in China by 2018

National Bank of Pakistan is set to open two branches in China by mid-2018 as part of its expansion in the country, The News International reported Aug. 12, citing the bank's president, Saeed Ahmad.

The lender will set up a branch each in Beijing and Shanghai aimed at supporting projects in the China-Pakistan Economic Corridor, as well as offer "foreign trade facilities to Chinese and Pakistani clients," Ahmad said. The bank has had a representative office in Beijing since 1981.

It is the second Pakistani lender to establish a branch in China following Habib Bank Ltd., which set up its first Chinese branch in March.