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Private Banking Service
 

The ICBC Private Banking Department in Sydney, in conjunction with ICBC’s Chinese domestic and other overseas branches, is able to offer an extensive suite of both independent and proprietary investment opportunities focusing on managing and growing the clients’ wealth. With our talented and dedicated team of financial professionals and specialists, ICBC Sydney Private Banking is able to provide a one-stop-shop banking and financial service incorporating cash management, wealth management, financial planning, business consultation and financing, with the aim of enhancing the clients’ wealth protection, wealth creation and wealth management in both the short and long term.

The scope of services and financial products provided by ICBC Sydney Private Banking Department include:

Transactional Banking Service
-Deposit and payment products
-Foreign Exchange Service

Wealth Management and Financial Advisory
-Fixed income products including government bonds
-Structured products
-Managed Investment Scheme

Business Consulting Service
-Investment opportunities/project information reporting
-Introducing the customer to opportune business negotiation channels, and supports the communication, to achieve completion of the business investment.

 

NOTICE TO DEPOSITORDIVISION 2 OF THE BANKING ACT 1959 – PROTECTION OF DEPOSITORS
As a new deposit customer of Industrial and Commercial Bank of China Ltd. Sydney Branch (“ICBC”) we request that you take a moment to carefully read the following information regarding the status of your deposit with ICBC.
Status of deposits with ICBC in Australia
As a branch of a foreign bank in Australia, ICBC is required by Part II, Division 1B of the Banking Act 1959 (the “Act”) to advise that deposits made by you with ICBC are not subject to the provisions protecting depositors set out in Part II, Division 2 of the Act. Therefore deposits are not covered by the financial claims scheme and not guaranteed by the Australian Government. Furthermore:
1. Deposits do not receive priority ahead of amounts owed to other creditors. This means that if ICBC is unable to meet its obligations or suspends payment, its depositors in Australia would not receive priority for repayment of their deposits from ICBC assets in Australia; and
2. ICBC is not required to hold assets in Australia to cover deposit liabilities in Australia. This means that if ICBC is unable to meet its obligations or suspends payment it is uncertain whether depositors would be able to access the full amount of their deposit.


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