Abu Dhabi – Mubasher: Union National Bank (UNB) will commence operations from its new branch in Shanghai, China, as of 16 August, according to a bourse statement.

UNB is the first UAE bank to open a branch in China. The new branch will operate under a foreign-currency licence to provide corporate banking services in the city.

The bank seeks to promote and capitalise on the increasing level of bilateral investment opportunities for Chinese or UAE companies, especially in the contractive and project finance domains.