Chinese ICBC bank to open subsidiary in Czech Republic

One of the world’s leading banks, China’s ICBC, will open a subsidiary in the Czech Republic. The Czech Secretary of State for European Affairs, Tomáš Prouza, signed a memorandum confirming the bank’s entry onto the Czech market on Thursday, during Prime Minister Bohuslav Sobotka’s visit to China. The bank has also launched a Czech section of its online platform e-Mall. ICBC is China’s second biggest bank after Bank of China. Prime Minister Bohuslav Sobotka said after the signing of the memorandum that the Czech Republic fulfils its target to become the financial centre for Chinese institutions for Central and Eastern Europe.

Author: Ruth Fraňková