Monday 18th May 2020 |
Text too small? |
The Reserve Bank today announced that it has registered Industrial and Commercial Bank of China Limited (“ICBC”) to provide banking services in New Zealand.
Industrial and Commercial Bank of China Limited is incorporated in the People’s Republic of China and will operate in New Zealand as a branch. A New Zealand subsidiary of ICBC (the Industrial and Commercial Bank of China (New Zealand) Limited) has been registered to provide banking services in New Zealand since November 2013.
Consistent with the Reserve Bank’s dual registration policy, the Reserve Bank expects ICBC to conduct business in New Zealand through both the branch and the subsidiary, although there are limits on the nature and amount of business conducted through the branch. The branch is expected to expand and complement banking services provided in New Zealand by the subsidiary, including facilitation of wholesale banking services.
There are now 27 registered banks in New Zealand.
No comments yet
Reserve Bank of New Zealand Committed to Action as It Responds to Data Breach
MHM Automation Limited (NZX: MHM) Settlement of New Plymouth Building Sale
Napier Port Holdings Limited (NZX: NPH) First Quarter 2021 Trade Volumes
New Zealand Oil & Gas Limited (NZX: NZO) Mahato PSC Update - Oil Production
Michael Hill International Limited (NZX: MHJ) Update - Dividend/Distribution
Michael Hill International Limited (NZX: MHJ) Trading Update
Tilt Renewables Limited (NZX: TLT) Q3 December 2020 Quarterly Production Results
Mercury NZ Limited (NZX: MCY) Tiwai to continue operations through 2024
NZXO Announcement: Rollover of Fletcher Building Industries Ltd Notes - FBI150
Meridian Energy Limited (NZX: MEL) Rio Tinto confirms Tiwai Exit in December 2024