China’s banking giant, the Industrial & Commercial Bank of China (ICBC), opened its first branch in Amsterdam this week. This announced the banking group Monday.
ICBC, claims to be the most profitable bank in the world, had subsidiaries in Frankfurt, Luxembourg and London. There are now offices in Paris, Brussels, Amsterdam, Milan and Madrid.
ICBC wants to focus on financing of trade between Chinese companies and Europe with his new European offices.
Also, the bank’s general financial services such as lending and investment banking for Chinese and European customers. In addition, to promote the bank’s investment guide and trade and economic relations between China and Europe.
“The European economy and the euro recently suffered problems, but Europe is still one of the major political and economic entities in the world”, the bank said.
The opening of new offices reflects the group confidence in the future of Europe according to ICBC’s.
ICBC is the largest bank in the world by market value. The banking group is also the largest lender in China. ICBC has 3.61 million corporate customers and over 3.16 million retail customers.