Industrial and Commercial Bank Of China (IBC): OVERVIEW LARGEST BANK BY ASSETS
Hello buddy we are here once again in the series of Bank Overview. We have gone through BANK HISTORY and a overview on JP MORGAN CHASE BANK and how these Bank helped the world by innovation and supply of credit. We can also say IBC BANK has helped a lot to the world as well CHINA.
History Of IBC
Industrial and Commercial Bank Of China has been launched in 1984 BEIJING (CHINA). IBC has been firstly launched by local government of China.
ICBC opened a subsidiary in Luxembourg in 1999 that in 2011 became the bank’s European head office. ICBC (EU) S.A. Operates the branches network in Paris, Amsterdam, Brussels, Milan, Madrid, Barcelona, Warsaw and Lisbon.
On 28 April 2006, three strategic investors invested $ 3,7 billion into the ICBC, preparing for their planned initial public offering. Goldman Sachs bought a $ 2.6 billion stake of 5.75 percent, the largest amount ever invested by Goldman Sachs. The Bank of Dresdner, a wholly – owned subsidiary of the Commerzbank, invested $ 1 million. US$ 200 million was invested by American Express.
The ICBC branch opened on 24 September 2014 in the capital of Kuwait, Kuwait City. Officially opened. The establishment of ICBC Kuwait Branch, the first and currently the only Chinese bank in Kowait, has brought the history of the presence of no Chinese bank. It is also in the Middle East, following branches in Dubai, Abu Dhabi and Doha, the fourth largest branch of ICBC.