NBP ICBC signed MoU bilateral cooperation Pakistan Chi

KARACHI: National Bank of Pakistan (NBP) and Industrial & Commercial Bank of China (ICBC), Pakistan signed MoU on bilateral cooperation in Karachi, Pakistan on the celebrations of ICBC’s completion of five years in Pakistan.Both institutions have agreed to enhance focus on developing niches and creating synergies, The areas of mutual cooperation will focus on trade finance, cash management and international payments, corporate lending and project financing, infrastructure financing, investment banking & RMB services. The two banks have also agreed to expand their business cooperation in other regions globally.The MoU was signed by Syed Ahmed Iqbal Ashraf, President NBP and Mr. Li Xiao Xin, Deputy CEO, ICBC. Mr Masood Karim Shaikh, Group Chief ‘ International Banking Group (NBP) & Mr. Shaikh Tariq Abdullah, Divisional Head ‘ Financial Institutions (NBP) were also present.The ceremony was also attended by Mr. Saeed Ahmed, Deputy Governor State Bank of Pakistan (SBP) and other notable guests from the banking industry.ICBC is the world’s largest bank with total assets of more than USD 3.4 trillion. NBP is Pakistan’s one of the largest financial institution with 1,403 branches in Pakistan and a presence in 20 countries spanning the globe.