The Industrial and Commercial Bank of China (ICBC) is the world’s largest bank in terms of market value and capital strength. The bank is a global leader in its sector for loans, deposit volume and income generation, and is listed in both the Shanghai and Hong Kong Stock Exchanges. In 2014, ICBC was named the “Bank of the Year” by the British journal, The Banker. In the same year, the bank was also awarded the “Bank of the Year – Asia-Pacific” and the “Bank of the Year – China”.
In recent years, the ICBC has transformed into a large-scale global finance group with 395 overseas branches across 42 countries. At the same time, it is also the first financial institution to have engaged in RMB (Chinese Yuan) transactions in Asia, Europe, and America.
On May 22, 2015, ICBC became Tekstilbank’s largest shareholder by acquiring a 75.5 percent stake in GSD Holding. At the date of the completion of the acquisition, Tekstilbank - which is currently quoted on Borsa Istanbul - had a total of 44 branches, including an asset management company, as well as a main branch in the same location as its company headquarters. Tekstilbank is engaged in corporate banking, commercial banking, SME banking, and private banking activities, providing a broad spectrum of financial and international banking services with a constant emphasis on customer-oriented approaches.
Tekstilbank is ICBC’s first merger and acquisition of a commercial bank in the European continent, and has also become the first China-based commercial bank to operate in Turkey and the surrounding region. With its global network of resources, the ICBC Group provides an active advantage in large-scale financial projects and cross-border RMB transactions. Through its retail, payment transactions, clearing and asset management products and services, the ICBC Group will offer comprehensive banking services to the local Turkish market, to China, and to customers in international markets, in order to contribute to the development of the Turkish economy and the realization of the ‘One Belt and One Road’ initiative.