Bank giant enters region

02 November 2007
The Chinese Industrial and Commercial Bank, the world's largest by assets, is entering the Middle East for the first time by opening branches in the Dubai International Financial Centre and the Qatar Financial Centre.

Both are still awaiting regulatory approval. They will have working capital of $50 million and $10 million respectively. They are expected to focus on corporate clients, asset management and investment consulting. The bank has 17,000 branches in China.

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