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China ok's ANZ to incorporate locally.

Global Banking News-28 October 2009-China ok's ANZ to incorporate locally(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 28 October 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

China has provisionally authorised Australia & New Zealand Banking Group Limited (NYSE: ANZ) (ANZ.AX) (OTCBB: ANZBY) to incorporate locally, Xinhua News Agency has reported.

Bank of America Corporation (NYSE: BAC) has also expressed an intent to incorporate a unit locally, the report said without naming its sources.

China has authorised three foreign banks to incorporate locally in Shanghai, the report said without disclosing the name of the lenders.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))
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Publication:Global Banking News (GBN)
Date:Oct 28, 2009
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