Industrial and Commercial Bank of China Ltd., Luxembourg Branch (the “ICBC Luxembourg Branch”) was officially established on 16th December 1999. ICBC Luxembourg Branch and Industrial and Commercial of China (Europe) S.A., which was established in 2006, are ICBC Group entities operating in Luxembourg. They constitute an operating and management platform of ICBC Group in European continent by taking full advantages of their respective banking licenses.
Located in Luxembourg, a global financial center, ICBC Luxembourg Branch takes full geographical advantage to insist in propelling ICBC Group strategy and commit to serve the financial demands of both Chinese and European clients, gradually exploring a way suiting its characteristics and sustainable business model. In September 2014, ICBC Luxembourg Branch was designated by People’s Bank of China as local RMB clearing bank, and it is fulfilling corresponding responsibilities and obligations under the guidance of both Luxembourg and China regulators. In 2019, it became the first Chinese member of Luxembourg Stock Exchange. In 2020, it was awarded 2020 CFETS Best RMB Foreign Exchange Member. ICBC Luxembourg Branch also commits to green finance and, in 2021, it successfully issued carbon-neutral green bond that was listed on Luxembourg Stock Exchange.
ICBC Luxembourg Branch owns full banking license covering a variety of banking products, including deposit, remittance, loan, trade finance, international settlement, client-based risk management, banking book funding and investment, cross-border RMB, currency exchange, and fund clearing among others. Meanwhile, with highly qualified management and experienced staff, ICBC Luxembourg Branch is able to serve clients with high-quality financial services. Relying on ICBC Group advantages and regional resources, ICBC Luxembourg Branch actively provides comprehensive financial support to bilateral trading and investment enterprises. ICBC Luxembourg Branch has become one of the major Chinese banks in local market. At the meantime, ICBC Luxembourg Branch strives for organic balance between economic and social benefits that it devotes to social responsibility in terms of local economy, society, culture, philanthropy activities and anti-pandemic, being a part of local community and establishing an image of a responsible bank.