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ICBC scores first in NZ
Print Edition
The Industrial and Commercial Bank of China, the country’s biggest lender by assets, has been the first Chinese bank to operate in New Zealand.
“ICBC NZ Ltd is a fully-owned subsidiary of ICBC Ltd,” the Reserve Bank of New Zealand said in an online statement yesterday.
ICBC NZ counts former RBNZ Governor Don Brash as one of its directors, according to NZ media reports.
ICBC is also the 23rd registered bank in New Zealand. Of the 23 banks, 10 are branches of overseas-incorporated lenders and the rest, including ICBC NZ, are locally incorporated.
ICBC NZ is located in Queen Street in Auckland, the country’s biggest city.
ICBC said it has a network in 40 countries and regions on six continents.
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