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ICBC leases office in Warsaw


2012-07-02



Industrial and Commercial Bank of China (ICBC), the largest bank in the world by assets and market capitalisation, has leased 1,200 m2 of space in central Warsaw for its first office in Poland, it emerged on 2 July.

The Chinese group first announced plans to start operations in Poland in December 2011, and in early 2012 filed a notification with the Financial Supervisory Commission (KNF) through its affiliate in Luxembourg. In March the KNF laid down several conditions for allowing the bank to operate in Poland as a branch office of the Luxembourg unit, in areas such as financial reporting or consumer rights.

Bank of China, another of the big four state-owned commercial banks of the People’s Republic of China, opened an office in Warsaw in early June.



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