Bank of China unit becomes 25th lender registered in NZ

Mon, 17 Nov 2014

Nov. 18 (BusinessDesk) - BOC (New Zealand), a unit of state-owned Bank of China, has become the 25th lender to be granted a licence by the Reserve Bank of New Zealand. Bank of China's clients include COSCO, Bright Dairy, Huawei and Haier Group, which all do business in New Zealand, and counts former finance minister Ruth Richardson as a director. Former National Party minister Chris Tremain is chairman of the local unit. The Reserve Bank said BOC will change its name to Bank of China (New Zealand) following registration, which is effectiv...

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