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Thailand: Industrial and Commercial Bank of China opens Bangkok office.
Section: Business News - The Industrial and Commercial Bank of China (Thai) plans an aggressive move into retail banking, as well as expanding its branch network and offering yuan loans, The Nation reports.
ICBC (Thai) will not only lend to corporates but plans to penetrate retail markets, chief executive officer Youbin Chen said on November 3.
He said that over the next two or three years, the bank would expand the number of branches to 30 nationwide, from the current 19.
He also said one of his challenges was to lower its funding costs, which are now a little higher than those of larger local banks.
At the local unit's inauguration on November …
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