ICBC has launched a global cash management service. This marks a new milestone in boosting the Chinese bank’s presence around the world to serve multinational groups from home and abroad.
The bank’s service is a collection of solutions involving the administration of accounts, centralised receipt and payment, cash pool in home and foreign currency, investment and financing and risk management. ICBC has extended its domestic advantages and service experience through its worldwide network of subsidiaries and corresponding banks.
ICBC global cash management service is a solution that gives multinational corporations access to accurate information on their cash liquidity around the world, allocate or transfer funds or bring all accounts under one roof, and a solution that is customised to the needs of centralised management of company cash liquidity in different countries, banks, and currencies, as well as mitigating risk in business operation spanning different countries.
As more and more Chinese enterprises ‘go out to the world’ due to globalisation, these now multinational corporations are in need of a solution to manage their cash liquidity around the world. Hence, ICBC has escalated its overseas presence to serve all customers. Currently, ICBC has a worldwide service network of 155 overseas subsidiaries in 15 countries and regions. Since 2005, ICBC has built a core service system and global cash management service system with home and foreign currency, as well as domestic and overseas services.
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