ISTANBUL – The Industrial and Commercial Bank of China (ICBC), the world’s largest bank, has announced plans to significantly reduce its branch network in Türkiye as part of an operational restructuring.
The bank, which currently operates 31 branches in the country, will close five branches and merge seven others, bringing its total branch count down to 19.
“Five branches will cease operations, and seven branches will be merged into other locations,” the bank said in a statement.
Entered Turkish Market in 2014
ICBC entered the Turkish market in 2014 by acquiring the shares of Tekstilbank. The bank primarily focuses on financing major corporate investments in Türkiye.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök