In 2008, the Australian Prudential Regulation Authority (APRA) approved Industrial and Commercial Bank of China Limited as a foreign authorized deposit taking institution (ADI) allowing the branch to conduct banking business in Australia, and in September of that year the Sydney Branch officially opened and commenced business. The successful establishment of the Sydney branch was regarded as a significant breakthrough in the bank’s progress towards internationalization, strengthening of it’s ability to improve it’s international management standards, and to provide a comprehensive range of banking services to the Australian and New Zealand markets which have been identified as one of the most prosperous regions in the Southern hemisphere.
During the past years, ICBC Sydney Branch has made great achievements in business growth as well as network extension. It has established Perth Branch, Melbourne Branch and Brisbane Branch. Sydney Branch provides its clients with an extensive range of banking services, including trade finance, project finance, syndicated loans, corporate loans, deposits, foreign exchange, derivatives, remittances, settlement, clearing, investment banking, private banking as well as other related services.
Given the characteristics of the Australian financial market and the opportunities for investment by Chinese companies in Australia, the Sydney branch positions itself first and foremost towards serving those Chinese companies investing in and trading with Australia and Australian companies investing in and trading with China, as well as a selected group of local customers and transactions.
1)ICBC Sydney Branch has established a corporate client base in the resources sector, which includes trade and investment activities.
2)Sydney branch has a unique ability to help customers to bridge the gap between the Australian market and China through its connections with the global ICBC group, thus being able to provide its Australian customers with a full range of specialized banking services.
3)Generating increased value for clients through a comprehensive set of service strategies including financial instruments, treasury and capital market operations and other value-added services.
4)Aiming to serve and develop a solid clientele of high net worth individuals through its product range to these customers with the aim of providing a unique all-encompassing standard of service.
While strengthening the growth of business, ICBC Sydney Branch is actively fulfilling its social responsibilities. The branch is developing a strong corporate culture, as embodied in the corporate principles of "Advance and Enhance, Care and Share". By this the branch has been trying to promote the advancement of management skills, compassion and care for others, achievement of mutually beneficial goals, a spirit of staff professionalism, cooperation and unparalleled service to clients and the community. ICBC Sydney Branch has grown into a strong Australian Chinese bank with international insight as well as core philosophy.