ICBC’s 1st branch in UK
Print Edition
THE Industrial and Commercial Bank of China London Branch has opened, marking the first branch of a Chinese mainland bank to be set up in Britain since the founding of the People’s Republic of China.
ICBC said in September that it had already obtained the license for branch operations granted by the British regulatory authorities.
At the opening ceremony on Monday, ICBC Chairman Jiang Jianqing said the bank has always valued the British market and regarded London as one of its core strategic markets to develop.
ICBC London Branch would focus on developing large wholesale business, and ICBC (London) Plc, the existing local subsidiary of the world’s biggest bank, would concentrate on retail and small and medium enterprise business, according to Jiang.
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