China's ICBC bank launches operations in Canada

10:55, July 07, 2010      

Email | Print | Subscribe | Comments | Forum 

The Industrial and Commercial Bank of China (ICBC Bank Group) said Tuesday that it will begin retail and corporate banking operations under the banner The Industrial and Commercial Bank of China (Canada) in Canada.

ICBC (Canada) will provide a business platform for the Bank Group to expand into the Canadian market and, along with its New York branch, further strengthen the Bank Group's North American presence.

In January of this year, the ICBC Bank Group completed the acquisition of 70 percent of The Bank of East Asia (BEA Canada).

With the announcement on Tuesday, all former BEA (Canada) branches, four in Toronto and two in Vancouver, will be converted to offices of ICBC (Canada). The new ICBC (Canada) will have a client base of around 10,000 retail and corporate customers.

Jiang Jianqing, chairman of the ICBC Bank Group, noted that Canada was one of the most important markets in the world. "One of Canada's strengths is the country's advanced and prudent financial regulatory system. With such a network in place, I am confident in the growth opportunities for our Canadian subsidiary in the years to come," he told Xinhua.

The launch of ICBC (Canada) marks the beginning of the expansion of the Bank Group's branch network in Canada. The bank will capitalize on the group's cutting edge information technology platform to bring its new online banking system to Canadian customers.
【1】 【2】

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
  • Arash Kamalvand (L) of Iran spikes the ball during the semifinal against South Korea at the 16th Asian Men's Volleyball Championship in Tehran, Iran, Sept. 28, 2011. Iran won 3-1 to advance to the final. (Xinhua/Ahmad Halabisaz)
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
Hot Forum Discussion