(Yicai Global) Nov. 22 -- The Industrial and Commercial Bank of China, the country's largest commercial bank, has started operations of a branch in Manila, capital of the Philippines.

The branch will strengthen the bank's cross-border financial services in Southeast Asia and improve its network layout across countries and regions along the Belt and Road, the Beijing-based lender said in a statement.

The bank has established 426 institutions in 47 countries and regions, with its service network covering six continents and important international financial centers worldwide.

The Bank of China has also recently set up a branch in Manila.