Chinese banking giant ICBC expands in Europe

By DPA, IANS
Monday, January 17, 2011

LUXEMBOURG - China’s banking giant, the Industrial & Commercial Bank of China (ICBC), launched Monday an expansion of its operations across Europe.

ICBC opened five new branches Monday in major European capitals - in Amsterdam, Brussels, Paris, Madrid and Milan.

The banking giant already has branches in Moscow, London, Frankfurt and Luxembourg.

Speaking at a press conference, ICBC chief Jiang Jianqing said his bank’s move was in recognition of the long-term growth potential of the European market.

ICBC has about 3.6 million business customers and 216 million private customers in China. It operates about 160 branches around the world.

Filed under: Economy

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