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Bank of China opens second branch in Budapest

Pharma

Bank of China on Tuesday said it opened its second branch in the Hungarian capital.

The Bank of China seeks to expand its network in Hungary and later wants to use the unit as a base for growth in the entire Central and Eastern European region, the bank's management said.

The Bank of China started operating in Hungary in 2003, marking its entry in the CEE region. The bank's Hungarian unit had after-tax profit of HUF 1.2 billion last year. It finished 2011 with total assets of about HUF 60 billion.

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