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ICBC 

 

The Industrial and Commercial Bank of China (ICBC) was founded on January 1, 1984. On October 27, 2006, it was successfully listed on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange. In recent years, ICBC has transformed into a large-scale global finance group with 412 overseas branches in 42 countries and regions, as well as 127 subsidiaries in 18 countries and regions along the “Belt and Road”.

 

This steady development over the years has seen ICBC become one of the world’s leading banks, with an excellent customer base, diversified business structure, strong innovation capability, and market competitiveness. It provides a wide range of financial products and services to 5.7 million corporate customers and 530 million personal customers worldwide. 2016 marked the fourth year in a row that it topped three authoritative rankings, securing its position as the first among the “Top 1000 World Banks” by the Banker, the first among the “Global 2000” by the Forbes, and the first among the sub-category of commercial banks by Fortune.

 

Looking specifically at the bank’s activities in Turkey, on May 22, 2015, ICBC completed the equity acquisition of Tekstilbank, and now holds a 92.84 percent share in the bank. ICBC Turkey Bank A.Ş., currently listed on Borsa Istanbul, has a total of 44 branches, a securities company, and an asset management company. It is engaged in corporate banking, commercial banking, SME banking, private banking, and personal banking activities.

 

Tekstilbank is ICBC’s first merger and acquisition of a commercial bank on the European continent, and ICBC Turkey Bank A.Ş. has thus become the first China-based commercial bank to operate in Turkey and the surrounding region. ICBC Turkey Bank A.Ş. leverages ICBC Group’s global network of resources, and plays to its advantages of serving large customers, undertaking large project financing, and engaging in cross-border RMB transactions. Through its credit, investment banking, retail, payment transactions, clearing, and asset management products and services, ICBC Turkey Bank A.Ş. offers comprehensive banking services to the local Turkish market, to China, and to customers in international markets. The bank intends to make large contributions to the development of the Turkish economy and Turkish society, as well as play a major role in the realization of the “Belt and Road” and “Middle Corridor” initiatives.