Bocom to open San Francisco branch

Continuing its overseas expansion, Bank of Communications will set up a branch in San Francisco, its second US branch, AFP reported. The bank, China’s fifth-largest, will submit its plan for regulatory approval. Bank of Communications said its first-half earnings grew 81.2% from a year earlier to US$2.3 billion. The bank’s other US branch is in New York. It also has branches in Hong Kong, Tokyo and Singapore, and representative offices in Frankfurt and London.