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ICBC to offer assistance to Peru

(Xinhua)
Updated: 2009-10-29 15:35

The Industrial and Commercial Bank of China (ICBC), considered the largest in the world by market capitalization, is to assist Peru in its economy, the bank's president Yang Kaisheng said Wednesday.

"We are ready here to support the Peruvian government in the economic field," Yang said during a meeting with Peruvian President Alan Garcia.

Related readings:  ICBC says its deposits now world's largest  ICBC says Q1 net profit rises 6.03%  Lending surge lifts ICBC first-half net  ICBC full-year net profit increases 36%

The visiting Chinese banker discussed with the Peruvian president the possibilities of investing in Peru as well as the commercial and financial ties between China and Peru.

"We are very pleased with the advance of our economic ties. We all know that for Peru, China is a very important cooperator in economy and finance," Yang added.

As of 2009, the ICBC has assets of 11 trillion yuan ($1.6 trillion) and during the first quarter of this year, the bank earned $9.622 billion, an increase of 2.9 percent year-on-year.