Maybank, the Malaysian financial services firm, is opening its third branch in the Greater China region, following Shanghai and Hong Kong.

Maybank Beijing has a paid up capital of RMB200 million (US$32 million) and will focus on wholesale banking services denominated in foreign currencies, mostly in US dollar. These cover foreign currency loans and advances, foreign currency guarantees, trade financing, documentary credit and collection, foreign currency deposits and project financing.

Maybank Shanghai was granted an RMB banking license in 2003 allowing it to undertake all forms of banking services in the local currency apart from foreign currencies. In Hong Kong, the firm offers a range of financial services covering cross border business. With the addition of Maybank Kim Eng into the Group in 2011, the company expanded its range of services in Hong Kong to include investment banking, securities trading and wealth management.

The Maybank Beijing branch opened for business in July 2012 and is located on the 32nd Floor of the China World Tower, the tallest building in Beijing. It has 20 employees, bringing the total number of employees in Maybank’s Greater China operations to 151.