Bakytzhan Sagintayev discusses coop with ICBC’s senior banker

ASTANA. KAZINFORM - Prime Minister of the Republic of Kazakhstan Bakytzhan Sagintayev has held a meeting today with Vice Chairman and Executive Director of Industrial and Commercial Bank of China Limited (ICBC) Gu Shu, Kazinform cites primeminister.kz.

At the meeting, the sides discussed issues on cooperation with ICBC, delivery of high-quality banking services to domestic, Chinese and other foreign customers, the attraction of foreign investments, and lending to Kazakhstan's economy.

Industrial and Commercial Bank of China was established in 1984. It is one of China's largest government-owned banks (alongside Bank of China, Agricultural Bank of China, and China Construction Bank).

ICBC operates in 45 countries and regions of the world. It ranks number 1 in The Banker's Top 1000 World Banks ranking, and first on the Forbes Global 2000 list of the world's biggest public companies. ICBC's customer base includes over 6 million corporate customers and more than 530 million retail ones around the world.

In Kazakhstan, ICBC is represented by Industrial & Commercial Bank of China (Almaty) JSC, which was founded in 1993 and has been the first subsidiary of the Chinese bank being represented in Kazakhstan and Central Asia.

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

At year-end 2017, the bank's standing was as follows: $104 billion revenue, $45 billion net profit, and assets worth $4.1 trillion.