Karachi: HBL partners with Diamond Trust Bank (DTB) and launches the China Coverage Department to serve Chinese enterprises operating in the East African Market.
HBL, the largest Bank in Pakistan and China is HBL’s second home market. It is the only Pakistani bank to have branches in China and only one of the three banks from South Asia and MENA region to offer end-to-end RMB intermediation.
Diamond Trust Bank Kenya Limited (DTB) is a leading regional bank listed on the Nairobi Securities Exchange (NSE) with presence in four East African countries. An affiliate of the Aga Khan Development Network (AKDN), DTB has operated in East Africa for more than 70 years.
HBL has been instrumental in supporting business flows between China and South Asian Countries. This partnership with DTB, will further the Bank’s ability to extend this capability for the China Business to Africa. DTB is working with HBL to introduce a wide range of products to cater to the needs of the market including direct RMB remittances from Kenyan Shilling, RMB-based trade products including guarantees, imports and exports and financing financial products. The announcement was made at a dinner hosted by DTB in honour of its Chinese clients in Kenya.