Tata Sons Limited on 2nd December 2015 tied up with Industrial and Commercial Bank of China Ltd. (ICBC) by signing a banking agreement. Under this long term partnership, ICBC will become a strategic banking partner to the Tata group for its businesses in several countries across continents.Tata Sons Limited is the promoter of India’s largest industrial house Tata Group.
Highlights of the agreement:
• ICBC will be a strategic banking partner to the saltto software conglomerate.
• ICBC will provide the Tata group with financing products, global cash management, consulting, international trade business, investment banking, foreign exchange, and other global financial services.
• ICBC will also create a global service team which will support Tata group’s strategic development plans across geographies including China, Singapore, Europe, US and Latin America.
About Industrial And Commercial Bank of China Ltd. (ICBC)
• ICBC is a Chinese multinational banking company and one of China’s Big 4 state owned commercial banks; the other 3 being Bank of China, Agricultural Bank of China and China Construction Bank.
• It ranks number one in The Banker’s Top 1000 World Banks ranking and number one on Forbes Global 2000 list of the world’s biggest public companies.
• ICBC entered India in September 2011 and has a branch in Mumbai and offers corporate banking and trade finance services.
Tata Sons Ltd. tied up with Industrial And Commercial Bank of China Ltd.
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