First Branch of Chinese Bank Established In France

The first French branch of the Industrial and Commercial Bank of China (ICBC) was opened in Paris this Tuesday.

Industrial-and-Commercial-Bank-of-ChinaAt the inauguration, French Finance Minister Christine Lagarde and ICBC President Jiang Jianqing mutually pressed a button to symbolically launch the Chinese bank’s new subsidiary.

Lagarde said “France is very glad to welcome the biggest bank of the world, ICBC.”

Jiang said that the tremendous potential of mutual business transactions between France and China, which was over 40 billion U.S.D last year, stimulated companies to increase their mutual investments.

On Monday, the ICBC announced the establishments of five subsidiaries in Europe: in Madrid, Milan, Amsterdam, Brussels and Paris.
The ICBC global services are have operations in 28 regions and countries including 203 branches around the world.