ANZ Hangzhou will cover the entire Zhejiang Province and offer a full range of financial services, including trade and supply chain, cash management, markets and relationship banking for corporate clients, and deposits, mortgages, wealth management and migrant banking for individual customers.

It is located at Euro America Centre at the downtown Xihu business district. Hangzhou is a key city in the Yangtze River Delta and is considered an important area for private business and personal wealth.

ANZ has had a presence in China since 1986 and is the only Australian bank with a local incorporation in the country. Its other branches are in Shanghai, Beijing, Guangzhou and Chongqing. It also has a rural bank in Liangping County, as well as partnerships with Shanghai Rural Commercial Bank and Bank of Tianjin.

The bank made the news recently after it signed a partnership with Switzerland's Vontobel Group to offer the latter's private banking products and services to ANZ's clients in the Asia-Pacific region. The Australian bank has a network in 30 countries.