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ICBC says M&A to focus on Asia, emerging markets

(Agencies)
Updated: 2009-03-26 15:26

Industrial and Commercial Bank of China (ICBC), the world's biggest bank by market value, will focus its overseas acquisition strategy on emerging markets and Asia, Chairman Jiang Jianqing said at a Credit Suisse investor conference on Thursday.

ICBC owns 20 percent of South Africa's Standard Bank, Africa's biggest lender, and has said it will continue to look for overseas opportunities through acquisitions and by building on its existing business.