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Thursday, November 15th, 2018

Bakytzhan Sagintayev discusses cooperation with management of ICBC

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During the meeting, issues of cooperation with ICBC, the provision of high-quality banking services to domestic, Chinese and other foreign clients, attraction of foreign investments and lending to Kazakhstan’s economy were discussed.

For reference: Industrial and Commercial Bank of China is one of the largest state-owned banks in China (along with the Bank of China, Agricultural Bank of China and China Construction Bank). It was founded in 1984.

ICBC is represented in 45 countries and regions of the world and is the largest banking group, it has been recognized as number 1 in the world for five consecutive yearsfrom 2013 to 2017, by The Forbes Global 2000 and The Banker’s Top 1000 World Banks. Also, ICBC is the largest bank in the world in terms of bank assets, the size of the deposit base and net profit. The client base of the ICBC group includes more than 6 million corporate clients and more than 530 million retail customers around the world.

In Kazakhstan, ICBC is represented by the Commercial and Industrial Bank of China in Almaty Joint Stock Company, which was established in 1993 and is the first subsidiary of the Chinese bank, represented in Kazakhstan and the Central Asian region.

The Bank is also the operator of Chinese development institutionsthe China Development Bank (CDB) and the China Exim Bank for projects implemented with their participation in Kazakhstan.

Following the 2017 results, the bank’s indicators were: revenues of $104 billion, net profit of $45 billion, assets of $4.1 trillion.

Source: The Prime Minister of Kazakhstan

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