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Bank of China opens its first branch in Greece

November 8, 2019

 

The Bank of China has opened its first branch in Athens, Greece. The Bank of China is one of the four largest state-owned banks in China, with total assets of $ 3.09 trillion and some 311,000 employees.

 

By opening a branch office in Greece, the Bank of China signals its support for further Chinese investment in Greece. This has been led by the COSCO privatisation and operation of part of the Port of Piraeus, but also by the thousands of individual Chinese investors who have bought properties in Greece and benefitted from the Greek Golden Visa programme.

 

According to Keep Talking Greece:

 

The Bank of China is the fourth largest bank in the world, its decision to open a branch in Greece will increase commercial relations between the two countries and will increase Chinese investments in Greece.

 

The Greek Development Minister, Adonis Georgiadis, also explained that having a stronger relationship with China is good for Greece and that it will set an example for European countries. It has been reported that the Bank of China is interested to fund investments in the sector of green economy and energy.

 

 

Greece will be the seventh country the bank will open a branch in, following Luxembourg, the UK, France, Germany, Italy, and Hungary.

 

 

Navigator Consulting and NavInvest Greece provide due diligence, market analysis, business planning and valuation services in Greece and internationally. For support in investing in Greece, please contact us.

 

Sources:

Keep Talking Greece

Reuters

Kathimerini Greece

 

Photo (c) Kathimerini Greece

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