NEWS & ADVICE : CAR LOANS
China sets up first banking operations in India
By Vaibhav Aggarwal
Sep 16, 2011
Print    Email    RSS   

Chinese lender Industrial and Commercial Bank of China (ICBC) has set foot in India with its first branch getting opened in Mumbai yesterday.

The main focus of the bank would be on corporate sales and on operations of Chinese firms in India.

"Mumbai branch will build up partnership with Chinese enterprises in India, support the local telecommunication, transportation, power and other infrastructure construction, extend the financial service to heavy machinery, automobile and other industries," said Yang Kaisheng, vice chairman and president, ICBC.

"Establishment of ICBC's maiden branch in India not only shows the bank's confidence in the prospect of Indian economic development, but also indicates the bank's commitment to building up the commercial bridge between the two countries," he added.

The bank happens to count amongst the world's largest lenders in terms of profit, market capitalisation and customer deposits.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
How good are floating rate car loans?
Managing loans through difficult times
Affects of Car Loan Default
J&K Bank raises PLR
Spend some time to get the best car insurance


CAR LOAN STETMENT
Hello I am looking to renew my car insurance and I...
my loan no

NEWS THIS WEEK
SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive