The Industrial and Commercial Bank of China (ICBC) has opened its first branch in Poland, which also marks the launch of the lender’s first branch in Central and Eastern Europe (CEE).
ICBC is also the first Chinese bank to have a branch in Poland.
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ICBC’s Polish branch has opened in Warsaw. The new branch totals the lender’s physical presence in Europe to 10 countries, namely Germany, Luxembourg, UK, Russia, France, Netherlands, Belgium, Italy, Spain and now Poland.
Senior executive vice president of ICBC, Wang Xiquan, said China and Poland shared a "rapidly growing trade and economic relationship".
ICBC has, reportedly, been seeking to increase its presence on the international arena, and opened its first representative office in Cape Town in South Africa in 2011. At the end of September 2012, ICBC set up a global network of 270 overseas branches spreading across 35 countries.
ICBC has 292m individual customers worldwide through 17,000 outlets in and outside China and a global network of more than 1,600 correspondent banks.
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