Industrial and Commercial Bank of China, the world's largest bank by market value, says it's launching operations in Canada. ICBC plans to capitalize on growing trade between the two countries.
The bank will start retail and corporate banking operations at six branches acquired in January, when it bought 70 percent of the Canadian operations of Bank of East Asia. From there, the bank plans to expand its North American footprint.
- ICBC may follow BOC on rights issue 2010-07-07