National Australia Bank Limited
(ASX:NAB) has been licensed to open its second branch in China which is expected to open its doors later this year.
The bank says the new branch will be based in Beijing and will support its business banking customers looking to trade with or invest in China.
NAB also expects the branch will support Chinese institutional and corporate clients looking to trade with or invest in Australia and New Zealand.
Approval to open a new branch comes after NAB inked a Memorandum of Understanding with the Export-Import Bank of China to support greater collaboration between both groups.
National Australia Bank reported a net profit of $3.46 billion in the first half of the 2015 financial year.
