China's Biggest Bank ICBC to Set Up First Austria Branch
Tang Shihua
/SOURCE : Yicai
China's Biggest Bank ICBC to Set Up First Austria Branch

(Yicai Global) Sept. 10 -- The Industrial and Commercial Bank of China, the world's largest commercial lender by assets, has gotten the green light to set up its first unit in Austria to promote its financial services overseas.

The European Central Bank approved ICBC's application to kick off operations in the central European country, the Beijing-based financial institution said in a statement. The new unit will promote the parent's prowess in offering cross-border services in Central and Eastern Europe.

ICBC has established 420 branches in 45 countries and territories in six continents, as of in June. The European locations include those of Brussels, Luxembourg, London, Paris, Zurich, Amsterdam, Madrid, Berlin, Frankfurt, Rome, Moscow, Prague and Warsaw.

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Keywords: New Branch , Austria , ICBC , BELT AND ROAD , China's Biggest Bank , ECB