History
The group began banking operations in 1994 when it was granted a license to operate a bank in Hungary. Since then, the ICB Banking Group has established or acquired commercial banks in Eastern Europe, Africa and Asia. As of May 2009, the group operates banks in thirteen (13) countries on three (3) continents.
The group began their operations in Africa in 1996 in Ghana and today has a presence in nine (9) African countries. In 2003, the group entered the Asian market by acquiring an indirect stake of 11.3% in Bank Internasional Indonesia, one of the largest banks in Indonesia. Through subsequent acquisitions and start-ups, ICB today operates in three (3) Asian countries.
In 2004, the individual ownerships of the ICB Banking Group were incorporated under the umbrella of ICB Financial Group Holdings AG, a Swiss based holding company. On 17 May 2007, ICB Financial Group Holdings AG was listed on AIM market of the London Stock Exchange.
ICB Bank Malawi was established in 2008. In 2010, ICB Banking Group disposed of its shareholding interest in ICB Islamic Bank in Bangladesh, for a consideration of US$55 million in cash. Also in 2010, ICB Bank Zambia was established.
Read more about this topic: International Commercial Bank
Famous quotes containing the word history:
“We may pretend that we’re basically moral people who make mistakes, but the whole of history proves otherwise.”
—Terry Hands (b. 1941)
“Boys forget what their country means by just reading “the land of the free” in history books. Then they get to be men, they forget even more. Liberty’s too precious a thing to be buried in books.”
—Sidney Buchman (1902–1975)
“No cause is left but the most ancient of all, the one, in fact, that from the beginning of our history has determined the very existence of politics, the cause of freedom versus tyranny.”
—Hannah Arendt (1906–1975)