Global Banking Directory (since 2007)
Press Release Distribution Service
Add Bank | Banking Forum | Donate
Advertisement
  • Swiss Payment Forum, 11-12 November 2019
  • Blockchain for Financial Services Summit, 4-5 June 2019
  • Invest in our projects
BanksDaily Twitter BanksDaily FaceBook BanksDaily LinkedIn

Press Release :: Industrial and Commercial Bank of China (ICBC)

Logo Industrial and Commercial Bank of China (ICBC)ICBC received a business license granted by the Reserve Bank of India for a branch in Mumbai. Earlier, China Banking Regulatory Commission has approved the Bank to set up its Mumbai Branch.

An ICBC executive said, the upcoming Mumbai Branch will be a member in India's financial market. The Bank is taking advantage of its large customer base, financial strength, network and technology to play a bigger role in serving the trade and economic between China and India, and facilitating the economic development of India.

India is the largest country in South Asia and one of the BRIC Countries. China and India have witnessed fast growth in economic and trade relation over the past few years. During the course of last five years, bilateral trade was growing at around 49% every year on average. In 2008, China has surpassed USA to become India's largest trading partner. China's trade with India reached USD 61.8 billion in the year of 2010. India is also China's largest trading partner in South Asia. The burgeoning economic and trade and investment cooperation between China and India pave the way for the development of financial sector, but pose new requirement on the banking services as well.

In recent years ICBC has escalated its international presence and scaled up its overseas subsidiaries and business areas to offer financial services across the globe, setting up a global financial service network covering all the international finance centers and China's major trading regions with well-defined hierarchy, reasonable positioning, diversified channels and efficient operation. More important, ICBC leveraged its IT strength to incorporate business operation, risk management and information sharing under one global platform. Nine product service lines have been extended overseas, namely, retail banking, bank card, electronic banking, fund clearing, professional financing, global cash management, investment banking, asset management and trade finance. FOVA (overseas subsidiaries management system), a system independently developed by ICBC, has been installed in most of the overseas subsidiaries, a significant boost to ICBC's capacity and competitiveness in serving the customers around the world.

Source: Industrial and Commercial Bank of China (ICBC)
Date: 04.06.2011
Articles
 Havin Bank Ltd selects ifinancial’s AMLtrac software to enhance its AML procedures

Havin Bank Ltd, the only bank with entirely Cuban capital established outside Cuba, has chosen the KYC and Document Management, Account Monitoring, Transaction Tracking, SWIFT message screening and Alert Management modules of ifinancial's AMLtrac software to strengthen the management and control of its compliance and anti-money-laundering risk. 19.11.2018 | Source: IFinancial

 25th World Islamic Banking Conference announces 4th series of WIBC Leaderboard

Top performing Islamic Financial Institutions from Bahrain, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, UAE and Saudi Arabia are vying for the WIBC Awards recognizing the Best Performing Banks at the Global and Regional level. 28.10.2018 | Source: Middle East Global Advisors

 Financial technologies are need of the hour for Banks in India

The Indian FinTech space is expected to reach $2.4 billion by 2020 and 2018 will be a critical year in that journey because 52 % of India's digitally active consumers are adopting FinTech and are the driving force for new technology adoptions. 02.03.2018 | Source: Explore Exhibitions and Conference

 International Banking Exhibition and Conference will be held in Baku

"Digital Banking and Security" titled International Banking Exhibition & Conference will be held in Baku on 17-18 of April, 2018 by FA International Trade Events. 07.02.2018 | Source: FA International Trade Events


2007-2019 © Global Bank Directory