Arab Today, arab today 3 big chinese banks to enter us banking market
Last Updated : GMT 18:22:15
Arab Today, arab today
Arab Today, arab today

3 Big Chinese banks to enter US banking market

Arab Today, arab today

Arab Today, arab today 3 Big Chinese banks to enter US banking market

New York - AFP

The Federal Reserve announced Wednesday that three major Chinese banks have won approval to enter the US banking market. ICBC, China\'s biggest bank; Bank of China; and Agricultural Bank of China have been cleared to have branches in the United States, the Fed said. The Fed authorized Bank of China to set up a branch in Chicago, and Agricultural Bank of China to establish one in New York City. The board approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia, a deal that would make it the first Chinese state-controlled bank to acquire retail bank branches in the United States. The US unit of Bank of East Asia operates 13 branches in New York and California. ICBC has been the most aggressive of China\'s \"big four\" banks in expanding overseas. ICBC has total assets of roughly $2.5 trillion and the Chinese government owns some 70 percent of its shares, the Fed said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 3 big chinese banks to enter us banking market Arab Today, arab today 3 big chinese banks to enter us banking market

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 3 big chinese banks to enter us banking market Arab Today, arab today 3 big chinese banks to enter us banking market

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday