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ICBC Hanoi Branch’s Milestones

7th July 2008: A preparation team for setting up branch in Hanoi was officially established in Beijing with Mr.Chen Zhi Biao as the Team Head, Mr.Niu Jian Jun as the Deputy Head, other members including Mr.Li Ye Lin, Mr.Zhang Zhe, Mr.Huang Hong Ri, marking our first step in opening ICBC Hanoi branch.

29th July 2008: ICBC Head office delegation, headed by Mr. Hu Hao, Managing Director of International Banking Department, visited Vietnam for officially submitting the branch opening application to the State Bank of Vietnam (SBV), becoming the 27th foreign applicant for a branch license at that time. However, in the short run, it was considered a very difficult task to obtain SBV’s approval for branch opening.

April 2009: Mr.Qiang Jian Qing, Chairman of ICBC Head office met with Vietnamese Prime Minister Mr.Nguyen Tan Dung on the sidelines of his visit to Hainan island, here, Mr.Qiang presented ICBC’s internationalzation strategy in general and its willingness to enter Vietnamese market in particular, laying the foundation for SBV’s early approval for opening ICBC Hanoi branch later on.

July 2009: Mr. Yang Kai Sheng, Acting Chief Executive Officer of ICBC Head office paid a visit to Vietnam and had an official meeting with the State Bank of Vietnam. In the meeting, SBV’s Governor informed Mr. Yang that ICBC’s application for a branch opening had been approved by Vietnamese Prime Minister.

10th December 2009: ICBC Hanoi branch obtained a Financial Services Operation Permit issued by the State Bank of Vietnam, then after only 1 week, the branch smoothly completed its registration for Company business license.

26th January 2010: ICBC Hanoi branch was officially inaugurated, the opening ceremony was attended by Mr.Qiang Jian Qing, Chairman of ICBC Head office. After one year and a half of hard work for the branch license approval, ICBC Hanoi branch eventually succeeded in overcoming all difficulties and challenges, laying a strong foundation for other branches opened in Laos, Cambodia and Myanmar later on.

2010 year end: ICBC Hanoi branch gained a positive profit for its first year of operation.

2012 Q1: ICBC Hanoi surpassed Bank of China HCMC branch to become the biggest branch, in terms of total asset and net profit, of all Chinese banks opening branches in the local market.