4th January 2012
Monday, May 21st, 2012
Chinese lender ICBC prepares for Poland launch
ICBC is the largest bank in the world
Courtesy of Wikimedia Commons |
The Industrial and Commercial Bank of China (ICBC) is getting closer to setting up a branch in Poland.
“[The ICBC] has established its organizational structure in Poland and is now waiting for the approval of the Polish Financial Supervision Authority (KNF) to start operating in Poland,” Parkiet reported Olgierd Dziekoński, the secretary of state from the Polish president's office, as saying.
ICBC, the largest bank in the world, revealed plans to enter the Polish market in the summer of 2011, but the project was delayed. Following Polish President Bronisław Komorowski's official state visit to China in December the process has been restarted.
According to Jerzy Osiatyński, economic adviser to the president, the bank has expressed interest in bonds, loans and debt securities that are traded in the Polish market.
The Chinese bank, which was founded in 1951, was ranked 7th last year on Forbes Global 2000 list of the world’s biggest public companies.
From Warsaw Business Journal
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Chinese-Polish business relations: A small window of opportunity
A new chapter in Sino-Polish relations
Poland and China ready to boost cooperation
China to open $10 billion credit-line for Eastern Europe
In the spotlight: Chinese Premier's visit to Warsaw
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