Decision on Turkey from the world's largest bank: Closing branches
ICBC, which ranks at the top of the "World's 500 Most Valuable Banking Brands" list, has decided to reduce its number of branches in Turkey from 31 to 19. 5 branches will be closed, and 7 branches will be merged.
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The Industrial and Commercial Bank of China (ICBC), known as the world's largest bank and ranked first on the "World's 500 Most Valuable Banking Brands" list, is undergoing its most comprehensive branch restructuring since it began operating in Turkey in 2014.
ICBC entered the Turkish market in 2014 by acquiring shares of Tekstilbank. Known primarily for providing financing for large corporate investments, the bank began operations in Turkey under the name "ICBC Turkey" with this move.
5 BRANCHES CLOSING, 7 BRANCHES MERGING
In an official statement released by the bank, it was stated that "it has been decided to terminate the operations of 5 branches and to merge 7 branches into other existing branches."
NUMBER OF BRANCHES TO DROP TO 19
ICBC, which currently has 31 branches across Turkey, will reduce its total number of branches to 19 following this operation.