Industrial & Commercial Bank of China (ICBC) is going to
open five branches in the next two weeks across Europe.
One new ICBC branch will open this week in Paris, Brussels,
Amsterdam and Milan. Another branch will open next week in
Madrid.
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All branches will provide retail as well as commercial banking
services.
The bank’s European network compromises branches in the
financial hubs of London, Moscow, Frankfurt and Luxembourg.
The expansion in Europe is part of the bank’s global strategy to
increase its network outside of its domestic market.
Last year, the bank opened branches in Vietnam, Malaysia,
Thailand and Canada and now owns just under 200 branches in 28
countries and regions.
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By GlobalDataIts main native rival outside of China is Bank of China, which
is present in 11 European cities.
