Bank of China (NZ) Ltd is celebrating a decade of operations in New Zealand by doubling down on infrastructure lending and green finance.
The bank, which has grown into one of the country’s top lenders since its establishment in 2014, says it aims to support transformative projects such as energy infrastructure and retirement housing.
By the end of last year, Bank of China (NZ) Ltd’s green loan portfolio had reached $450 million, funding projects like solar farms, waste management facilities, and energy-efficient infrastructure. This year, the bank reported $287 million in sustainable loans to assist businesses in transitioning to a low-carbon economy.
The bank reaffirmed its commitment to infrastructure lending during a celebration of its 10th anniversary at its new Auckland offices. The event, attended by over 150 dignitaries.
The bank has facilitated over 10% of New Zealand-China cross-border financial transactions and supports more than 2,500 residential mortgage clients, with $2.1 billion in housing loans. It now ranks eighth among all banks in New Zealand and sixth in corporate lending.
“As it enters its next decade, Bank of China (NZ) Ltd remains focused on expanding its green finance portfolio by increasing investments in sustainable projects to support New Zealand’s transition to a low-carbon economy. It is also prioritising digital innovation, enhancing digital banking capabilities to improve efficiency and customer experience,” it says.
