The Kenyan representative office of Chinese bank The Hong Kong and Shanghai Banking Corporation (HSBC) has changed its name according to a notice by the Central Bank of Kenya.

"The Central Bank of Kenya hereby brings to the attention of the public that the Kenya Representative Office of the The Hong Kong and Shanghai Banking Corporation Ltd (HSBC) has changed its name to HSBC Bank Plc. following a restructuring within the HSBC Group. The change shall not affect the legal status or the operations of the Kenya Representative Office, which shall continue as normal." Read a statement on Central Bank's website.

The bank set up a representative office in Kenya to help Chinese contractors finance projects they undertake in the country and the region. This comes shortly after Bank of China (BOC) was granted a license to open a representative office in the country by CBK.

A representative office is allowed to provide its customers with banking, financial and other relevant advice but is not allowed to take deposits. It can provide its customers with information regarding the local market and also provide information to any local party which intends to develop its activities in countries where the foreign institution operates in.

BOC and HSBC Bank Plc’s entry into the country cements views that the East Asian economic giant will be using Nairobi as its hub in its bid to penetrate African markets. Earlier in the year, Chinese pay TV  StarTimes Media launched in Kenya going head to head with MultiChoice‘s DSTV and GoTV, and Zuku TV.