Bank of China receives license to establish representative office in Kenya

Comtex News Network

Jul 09, 2012 (Datamonitor via COMTEX) --Bank of China Limited, a commercial bank in China, has received a license from Central Bank of Kenya to establish a representative office in Kenya.

Bank of China, in which the Chinese Sovereign Wealth Fund holds a substantial stake, is headquartered in Beijing, focusing on corporate and personal banking as well as investment banking.

It also has operations in other countries including South Africa and Zambia. South African lender FirstRand plans to acquire a mid-sized Kenyan bank.

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