Industrial and Commercial Bank of China established Industrial and Commercial East Asia and ICBC Asia in Hong Kong through the merger and acquisition of international capital markets.
In July, 20001,China Industrial and Commercial Bank injected the commercial banking business of Hongkong Branch into China Industrial and Commercial Bank (Asia), which promoted China Industrial and Commercial Bank (Asia) to expand its customer base, improve its deposit and loan portfolio and diversify its service product portfolio. Through this business transfer, the competitiveness of China Industrial and Commercial Bank (Asia) will be greatly enhanced.
On April 30th, 2004, Industrial and Commercial Bank of China (Asia) acquired the retail and commercial banking business of Fortis Bank. Fortis Bank was later renamed Fortis Bank and became a wholly-owned subsidiary of Industrial and Commercial Bank of China (Asia).
China Industrial and Commercial Bank has continuously promoted transnational operations and accelerated the construction of a balanced and coordinated development pattern of local and foreign currency and domestic and foreign businesses. By the end of 2004, China Industrial and Commercial Bank had 65,438+000 branches and holding banks in major international financial centers, with total foreign currency assets of 49.5 billion US dollars, foreign currency deposits of 30.9 billion US dollars and foreign currency loans of 28.4 billion US dollars. In 2004, international settlement business was $212.2 billion, foreign exchange fund business was $0/48.9 billion, foreign exchange settlement and sale business was $95.5 billion, and foreign exchange trading was $44.9 billion.
June, 5438+October, 2005/KLOC-0, China Industrial and Commercial Bank (Asia) formally merged with Warburg Bank. At the end of the year, ICBC (Asia) had total assets of HK$ 99.3 billion and book profit of HK$ 760 million, ranking sixth in the banking industry in Hong Kong.
On June 23rd, 2005, 165438+ Industrial and Commercial Bank of China (Asia) was awarded A2/Prime- 1 long/short term deposit rating and D+ bank financial strength rating by Moody's Investment.
On June 25th, 2007, 10, China Industrial and Commercial Bank and South African Standard Bank jointly announced that they had reached an equity transaction and strategic cooperation agreement. According to the agreement, ICBC will pay a consideration of about 36.67 billion South African rand (about 5.46 billion US dollars) to acquire 20% of the shares of Standard Bank and become the largest shareholder of the bank.