ICBC Frankfurt Branch Successfully Opened Remittance Market in Italy

ICBC Frankfurt Branch made another break through in Euro remittance market in Italy after successfully opened Euro remittance markets in Austria and Spain. ICBC localization in Euro remittance business services moved one step further again.

On October 17th, Cassa di Risparmio di Volterra SpA completed account opening in ICBC Frankfurt Branch. This is the third Italian Savings Bank after Banca di Romagna SpA and Cassa di Risparmio di Cesena SpA to open Euro clearing account in ICBC in recent one month. Till today, there are already 5 European Banks who have their Euro clearing accounts opened in ICBC Frankfurt Branch.

ICBC China-Euro Express (CEE) Service has been overwhelming welcomed by small-to-medium European banks since its launch last year by ICBC Frankfurt Branch. CEE Service has been recognized by part of banks in Austria, Spain and Germany through further specific product advertising and market promotion.

ICBC fully manifest its own business advantages and won high accord from partners on its quality, highly-efficient services leveraging ICBC strong system and network. In the latest round of market promotion, Italian Savings Banks with well-developed market presence and relatively assembly of Euro-China remittances also showed their strong interests in ICBC Frankfurt Branch's products.

Amongst, the three above-mentioned banks have successively opened Euro accounts in ICBC Frankfurt Branch for all their Euro remittances services to China. This indicated that local remittances business of ICBC Frankfurt Branch has been well underway and is now stepping up.