ICBC, Thailand set up an ASEAN map

Yesterday, ICBC (601398.　　SH,01398.HK, hereinafter referred to as "ICBC", revealed that the ACL bank, which was to be successfully merged in Thailand, officially renamed ICBC (Thailand) Co., Ltd. (hereinafter "the Bank of Thailand") and officially entered the Thai market.　　ICBC chairman Jiang Jianqing said yesterday that at present, ICBC has accounted for more than 80% of the total GDP of 10 ASEAN countries, Thailand, Malaysia, Singapore, Indonesia, Vietnam and other five countries have a business structure, the initial completion of the institutional layout in the ASEAN region.　　In the ASEAN region, ICBC had also previously acquired the Indonesian Halim Bank and renamed Halim Bank Indonesia. ICBC said that the Bank of Thailand fully undertook the original ACL banks of customers, assets and business, to become a national commercial bank in Thailand. ICBC Thailand has a comprehensive operating licence, headquartered in the Thai capital of Bangkok, a total of 19 branches in Thailand.　　In addition, the Thai flag also owns a leasing business subsidiary and a joint venture listed securities companies. ICBC Thailand, formerly known as the ACL Bank, was founded in 1969. The ACL bank was listed on the Thai Stock Exchange in 1978 and obtained an integrated banking licence in 2005. March 9, 2010, ICBC issued a voluntary takeover offer to all of the ACL Bank's shareholders, and at the end of the offer period a total of about 97.24% of the bank's issued shares were sold by the original ACL bank shareholder.　　April 21, ICBC completed capital delivery, officially holding ACL bank.　　Up to now, ICBC has set up 29 overseas one-level business organizations in 27 countries and regions, the total number of overseas branches has reached 194, and in addition, it has indirectly entered 29 countries and regions by participating in the South African Standard Bank, forming a global service platform. Over the past 3 years, ICBC's foreign institutional assets and profits have maintained a composite growth of 18% and 44% per cent respectively. In the first 9 months of this year, ICBC foreign institutions to achieve net profit of 459 million U.S. dollars, an increase of 43.9%. Most of ICBC's offshore institutions have a higher profitability than their local peers, and new institutions, such as Silver International, the Middle East, the Sydney Branch and New York branch, have been established, with net profits increasing even more than 5 times times year-on-year.