The Industrial and Commercial Bank of China (ICBC), the country's largest bank, has become the 23rd bank registered to operate in New Zealand, according to an announcement by the Reserve Bank of New Zealand (RBNZ) on November 19.
ICBC New Zealand Ltd. is a fully owned subsidiary of ICBC Ltd., and they have already reserved the website domain, icbcnz.com.
ICBC New Zealand counts former RBNZ Governor Don Brash among its directors, the BusinessDesk news service reported.
ICBC previously conducted its New Zealand business through its branch in Sydney, Australia. |