FINLAND'S first commercial bank, Union Bank of Finland (UBF), which has a major share of all Finnish project and trade financing in Asia, views its presence in China as a long-term investment.
As Finnish companies continue to secure important commercial deals in China, the Union Bank of Finland sees more potential in project-related structured finance, or syndicated finance.
''We see lots of Finnish companies now getting into China,'' Lennart Engstrom, assistant general manager and chief representative for north Asia, said.
''We have been doing as well as we expected in terms of supporting Finnish exporters.'' UBF, set up in 1862 in Finland, is the banking arm and the core business of the Unitas Group, which is active in industry, real estate, trade insurance, investment banking and other sectors.
It is the only Finnish bank in China and operates a representative office in Beijing and Hong Kong.
Since launching its commercial banking products in China three years ago, the bank has participated in providing substantial loan facilities for projects in the country, including large syndicated credits and guarantee facilities.
