ICB Banking Group also referred to as ICB Financial Group, but commonly known as International Commercial Bank (ICB), is an International financial services provider based in Schindellegi, Switzerland, with subsidiaries in Eastern Europe, Africa and Asia. The parent company of the group is known as ICB Financial Group Holdings AG whose stock is listed on the London Stock Exchange under the symbol: ICB. As of December 2009, ICB Banking Group was a large financial services provider with total assets in excess of US$1.32 billion and shareholders' equity in excess of US$200 million.
History
The group began banking operations in 1994 when it was granted a license to operate a bank in Hungary. Since then, the ICB Banking Group has established or acquired commercial banks in Eastern Europe, Africa and Asia. As of May 2009, the group operates banks in thirteen (13) countries on three (3) continents.
The group began their operations in Africa in 1996 in Ghana and today has a presence in nine (9) African countries. In 2003, the group entered the Asian market by acquiring an indirect stake of 11.3% in Bank Internasional Indonesia, one of the largest banks in Indonesia. Through subsequent acquisitions and start-ups, ICB today operates in three (3) Asian countries.
In 2004, the individual ownerships of the ICB Banking Group were incorporated under the umbrella of ICB Financial Group Holdings AG, a Swiss based holding company. On 17 May 2007, ICB Financial Group Holdings AG was listed on AIM market of the London Stock Exchange.
ICB Bank Malawi was established in 2008. In 2010, ICB Banking Group disposed of its shareholding interest in ICB Islamic Bank in Bangladesh, for a consideration of US$55 million in cash. Also in 2010, ICB Bank Zambia was established.
Subsidiaries
As of May 2009, ICB has the following operations around the world:
Headquarters
- Schindellegi, Switzerland - ICB Financial Group Holdings AG
Europe
- Albania - International Commercial Bank - 100% Shareholding
Africa
- Djibouti -International Commercial Bank - 99.9% Shareholding
- Malawi - International Commercial Bank - 100% Shareholding
- Mozambique - International Commercial Bank - 99.9% Shareholding
- Senegal - International Commercial Bank - 20% Shareholding
- Tanzania - International Commercial Bank - 20% Shareholding
- Zambia - International Commercial Bank - 99.9% Shareholding
- Ghana -International Commercial Bank - 99.9% Shareholding
- Guinea -International Commercial Bank - 99.9% Shareholding
Asia
- Indonesia - PT Bank ICB Bumiputra Indonesia - 67.1% Shareholding, 30% shareholding of this bank now acquired by Bhakti Investama.
- Laos - International Commercial Bank - 100% Shareholding
- Malaysia - ICB Global Management - 100% Shareholding
- Bangladesh - ICB Islamic Bank Limited
Ownership
ICB Financial Group Holdings AG is a publicly traded company, listed on the London Stock Exchange, under the symbol: ICB. As of October 2010, the major shareholders are listed in the table below:
See also
- List of banks in Switzerland
- List of banks in Europe
- List of banks in Africa
- List of banks in Asia
External links
- ICB Banking Group Homepage
- Nigerian Bank Buys International Commercial Bank Assets In West Africa
References
Interesting Informations
Looking products related to this topic, find out at Amazon.com
Source of the article : here
EmoticonEmoticon