Normally any bank tilting its lance at HSBC and Standard Chartered Bank in the Middle East could be dismissed with a knowing smile. But not when that bank is one of the largest in the world with $1.9 trillion in assets and the booming Chinese economy behind it.
Step forward the Industrial and Commercial Bank of Bank which first established itself in the region in the midst of the global financial crisis of 2008. The state-owned bank has branches in Abu Dhabi and Doha and a subsidiary in Dubai and is applying for a license to develop a retail network in the UAE.
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