Luso bank to launch branch in Guangzhou

The MSAR government has given the green light to Luso International Banking Ltd to set up its branch in Guangzhou city, according to a dispatch in the Official Gazette yesterday. The branch in Guangzhou will be allowed to provide financial services to businesses that are approved in the MSAR. Currently, Luso bank runs some 13 branches in the city. The bank is also the first local Macau bank to set up a representative office in the Hengqin Economic Zone of Zhuhai. The bank is a subsidiary of Xiamen International Bank Co Ltd.