Industrial and Commercial Bank of China (Malaysia) Berhad (ICBC Malaysia), a subsidiary of China-based ICBC has commenced its business operations in Malaysia.

ICBC Malaysia further complements ICBC’s operation network across Asia, covering Hong Kong, Macau, Japan, Korea, the ASEAN countries, the middle east and Central Asia.

In recent years, ICBC has accelerated the expansion of its network across Asia, including the ASEAN region. With the opening of ICBC Malaysia, ICBC has expanded its reach to five major countries in the region, Singapore, Indonesia, Vietnam, Thailand and Malaysia and has built up a chain of full service operating units within the region.

Yang Kaisheng, vice-chairman and president of ICBC, said: “ICBC Malaysia will strictly abide by local regulations, enhance its risk management, improve its internal controls, and follow best practices of the local market to ensure it remains a highly reputable financial institution known for prudent performance.”

He further added that many ICBC customers had economic and trade ties with Malaysian enterprises, while some also had direct investments in Malaysia. ICBC Malaysia will be dedicated to servicing this bilateral economic and trade exchanges and providing more convenient and quality services.