ICBC doubles cross-border RMB accounts
(17 September 2012 – China) The Industrial and Commercial Bank of China (ICBC) has doubled its cross-border RMB settlements year-on-year for the first half of 2012.
ICBC's total volume of cross-border RMB trade settlement jumped 94.6 percent year-on-year to RMB790.1 billion (A$118 billion) in the first half of 2012.
For the period ending June, 2012, ICBC has opened about 300 cross-border RMB accounts for other banks. ICBC's clearing network covers 59 countries/territories, the largest among the banks in China.
ICBC has a portfolio of cross-border RMB products that cater to customer needs, encompassing retail banking, fund clearing, trade finance, global cash management, special finance, investment banking, bank card, internet banking and asset management.
The RMB service network of ICBC has been expanding worldwide backed by 252 overseas branches in 34 countries/territories, and 1,591 overseas agency banks located in 137 countries/territories.
In the next step, ICBC will continue to extend its domestic advantages in RMB capital, products, system and professional staff to overseas to serve customers around the world through a global RMB clearing network.
The objective is to build a highly efficient platform for the delivery of RMB services through different channels with a wide range of products, in a bid to be the preferred partner bank of cross-border RMB services.
For the period ending June, 2012, ICBC has opened about 300 cross-border RMB accounts for other banks. ICBC's clearing network covers 59 countries/territories, the largest among the banks in China.
ICBC has a portfolio of cross-border RMB products that cater to customer needs, encompassing retail banking, fund clearing, trade finance, global cash management, special finance, investment banking, bank card, internet banking and asset management.
The RMB service network of ICBC has been expanding worldwide backed by 252 overseas branches in 34 countries/territories, and 1,591 overseas agency banks located in 137 countries/territories.
In the next step, ICBC will continue to extend its domestic advantages in RMB capital, products, system and professional staff to overseas to serve customers around the world through a global RMB clearing network.
The objective is to build a highly efficient platform for the delivery of RMB services through different channels with a wide range of products, in a bid to be the preferred partner bank of cross-border RMB services.
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