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Industrial & Commercial Bank of China commences ops at Prague branch

Beijing-based Industrial & Commercial Bank of China Ltd. said Oct. 9 that its Prague branch in the Czech Republic commenced operations Sept. 12 after obtaining a banking license from the country's central bank.

ICBC Prague Branch will rely on ICBC Group's international operation experience and resources to cooperate with Czech financial institutions, continuously enhance its financial services and offer comprehensive financial services, among other things.

Further, the bank said it signed a memorandum of understanding with a number of local enterprises in the country.