Foreign banks trim China branch networks as low returns test strategy
Foreign lenders are closing branches and shifting to wealth management as weak returns put pressure on their China operations
Deutsche Bank (China) announced the closure of its Chongqing branch last month after closing its Qingdao branch earlier this year, leaving the German lender with only four branches outside its Beijing headquarters.
HSBC Bank (China) and Standard Chartered (China) have each closed a Chongqing sub-branch over the past 12 months. HSBC also shut down a Beijing sub-branch this year.
