Industrial and Commercial Bank of China (ICBC) has started operations in Saudi Arabia with the opening of a branch in Riyadh.
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The Riyadh branch will render ICBC as the first Chinese bank to have retail presence in Saudi Arabia, adding to its four other branches in Dubai, Abu Dhabi, Doha and Kuwait.
According to ICBC vice president Gu Shu, the new branch will serve as the bridge for economic and trade exchange between the two countries and regions and will become a bank trusted by local people.
ICBC has an overseas network encompassing 42 countries and regions across the world and with 397 subsidiaries worldwide, according to the bank’s website.
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