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China's ICBC branch named "International Bank of the Year" in Turkey

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China's ICBC branch named "International Bank of the Year" in Turkey

Xinhua Published: 2018-12-21


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Bank tellers sit in a branch office of the Industrial and Commercial Bank of China (ICBC) in Hong Kong Wednesday, March 27, 2013. ICBC, China's biggest state-owned commercial lender, posted slower profit growth last year as the economy slowed and the government reformed interest rates. [Photo:AP]


ICBC Turkey, a branch of the Industrial and Commercial Bank of China (ICBC), on Thursday was named the "International Bank of the Year" for its "distinguished contributions" to Turkey's economy.

At an awarding ceremony in Istanbul, Binali Yildirim, speaker of the Grand National Assembly of Turkey, granted the award to Gao Xiangyang, chairman of ICBC Turkey.

The speaker himself and Uzbek President Shavkat Mirziyoyev were named "the Statesman of the Year" and "the Statesman of the Year in Central Asia" respectively by the Turcomoney magazine, Turkey's leading journal on finance and economy.

Some Turkish businessmen, institutions and exporting companies were also honored with awards for creating significant job opportunities.

Granting awards for those making contributions to Turkey and the world is a traditional program of Turcomoney, which is marking its 7th founding anniversary.

ICBC Turkey, which was established after ICBC purchased a majority of shares of Turkey's Tekstilbank in May 2015, is a business institution that provides all-round financial services, as it is licensed for commercial banking, investment banking and asset management.

ICBC is China's largest commercial bank as well as the world's largest bank by assets.

http://chinaplus.cri.cn/news/business/12/20181221/225818.html

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A new chapter for Bank and Turkey

Supporting SMEs are very important. Most of the credits usually go to fat cats, while the real employment creating SMEs suffer under heavy tax burden and little to no capital support.

China, quite different from Japan and Korea, is an SME country, hence, it knows the importance of providing credit lifeline to them.
 
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