Netherlands-based ABN Amro, one of the world's leading banking groups, opened a branch on Thursday in Chengdu, capital of southwest China's Sichuan Province.

The newly-opened branch is ABN's first branch in west China, and its fourth on the Chinese mainland after Beijing, Shanghai and Shenzhen.

About 100 jobs have been created and all the employees are Chinese, a company source said.

The branch currently only provides foreign currency services to its customers, said Piero Overmars, ABN board member.

Overmars said ABN will submit an application to the China Banking Regulatory Commission next year to operate Renminbi business.

ABN opened its first China branch in Shanghai way back in 1903. It now has 10 outlets in mainland China.

The bank plans to double the number of its outlets in China in the next five years, said Overmars.

(Xinhua News Agency November 24, 2006)