Citi expands lending capabilities in China

The bank plans to open two new lending companies in Hubei province.

Citi China has received approval from China's regulators to establish two new lending companies in Hubei province.

The two companies will open in GongÆan and Chibi of Hubei province in central China where agricultural development is helping the region grow economically. They will respectively be known as Hubei Jingzhou GongÆan Citi Lending Co and Hubei XianÆning Chibi Citi Lending Co. Both lending companies are expected to start operation within months, Citi says.

Citi currently has 28 branches and sub-branches in...

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