OCBC Bank's China subsidiary will open its second sub-branch, called Shanghai Gardens, in Chengdu, China, today.
The branches in Chengdu - as well as Shanghai - have also received regulatory approval that allows the bank to offer yuan-denominated products to Chinese citizens in the two cities.
This will allow the bank, the first foreign bank to open in Chengdu, to launch mortgages, wealth management and investment products to serve the growing affluent population in China.
Said Ms Leong Wai Leng, chairman of OCBC China: "We are confident of Chengdu's development and growth potential, and the opening of our new sub-branch signifies our commitment to Chengdu."
At the opening ceremony today, OCBC China will also present a cheque of 1.6 million yuan (S$318,000) to the Soong Ching Ling Foundation, its adopted charity in China, to help rebuild a primary school in Mianzhu city in Sichuan province, which was recently hit by an earthquake.
