Sharechat Logo

Industrial and Commercial Bank of China limited registered as bank

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.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Talisman Quarterly Activities Report to 30 June 2020
General Capital gives notice of Annual Meeting
Scales Corporation - Business Update
Fonterra Co-operative Group Global Dairy Update
Fonterra revises its 2019/20 and 2020/21 forecast Farmgate Milk Price ranges
Briscoe Group Limited Market update: 2nd Quarter Sales to 26 July 2020
thl market update - A frame work for 2021
Me Today - Outcome Of Share Purchase Plan Offer
Maxigesic IV® licensed in six new European nations
Evolve Shareholder Update

IRG See IRG research reports