Industrial and Commercial Bank of China (ICBC) has officially launched its global cash management business, which includes accounts management, centralised receipts and payments, domestic and foreign currency pools, investment, financing and risk management.
This new service will help multinationals manage global accounts and deploy their cash at home and abroad to meet the demands of cross-border, inter-bank and multi-currency cash management, as well as avoid cross-border operational risk.
According to a statement by the bank, the launch marks a new milestone in the bank’s international strategy to boost its strong presence around the world to serve multinational groups from home and abroad.
The bank has already established 155 overseas branches in 15 countries and regions.
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