New Silk Road Finance Awards 2017 CEE: Best Chinese bank for BRI
State-owned ICBC and Bank of China have led the Chinese charge into central and eastern Europe. Both have already put large amounts of balance sheet to work in projects across the region, as well as laying the groundwork for a physical network along the New Silk Road.
It is ICBC that takes the award for the region this year, however, by virtue of its deepening commitment to Turkey – a key Belt and Road country – as well as its role as prime mover in the creation of a landmark fund for investment in CEE.
In 2014, ICBC became the first Chinese entity to buy a full-service retail and corporate bank in CEE when it purchased a controlling stake in Turkey’s Tekstilbank.