The Australia and New Zealand Banking Group (ANZ) will be placing CNY2bn ($317m) into its Chinese subsidiary, amid ongoing cuts in its home market.
The Australian bank has announced plans to focus on local product development, recruitment and customer lending in its Chinese subsidiary, which was set up in 2010 and won regulatory approval to distribute retail structured products last month.
The funds nearly double the bank's registered capital in China to CNY4.5bn ($710m), up from its initial capital of CNY2.5bn ($394m).
"ANZ aims to become a super regional bank in the Asia-Pacific region, and China is a strategically important market for us," ANZ chief, Michael Smith (pictured), said. "We are making good progress towards our goal of earning 25% to 30% of group profit from outside Australia and New Zealand by 2017."
Meanwhile, the firm is in the process of culling one thousand jobs within its home market before the end of the third quarter.
The bank's fiscal first-half ending on 31 March saw its Asia-Pacific, Europe and Americas units profits up by 21% compared to the previous half, while profit from its Australia operations fell 7%.
Revenues from its Chinese operations since 2010 have leapt 82%, according to China chief executive, Charles Li. He said the bank is finalising arrangements to launch retail services in the coming month.
Smith said the additional funds would help grow the bank organically rather than through acquisitions.
ANZ China currently operates six outlets in the Beijing, Chongqing, Guangzhou and Shanghai areas and plans to increase its network to 20 outlets over coming decade.
ANZ also has stakes in four other China-based banks.