First Union enters RI

First Union enters RI

CHARLOTTE, North Carolina (Reuter): First Union Corp said
Wednesday it had opened a representative office in Jakarta as
part of its strategy to serve banks in developing countries with
strong trade and payment flows to the United States.

The bank said in a statement it had also received local
government approval to open representative offices in Istanbul
and Cairo.

"Each of these markets continues to show good economic
progress and strong growth in trade, and we look forward to
expanding capabilities in these important regions," it said.

The offices are to facilitate trade for its domestic client
base and serve as business development and service centers for
local financial institution customers, said the bank.