ISTANBUL, Dec. 2 (Xinhua) -- The Turkish subsidiary of the Industrial and Commercial Bank of China (ICBC) was named lately the "Best Commercial Bank of the Year Turkey" and the "Best Investment Bank of the Year Turkey" by the International Banker magazine.
ICBC Turkey is the only winner of the International Banker annual awards in the Turkish banking sector, which, according to the British quarterly read in more than 80 countries and regions, are based on nominations from its readers.
The "worthiest" financial institutions "are not just doing their jobs well but exceptionally well" and "are in effect operating on the cutting edge of the industry and setting new levels of performance to which others in the field will aspire," the magazine noted on its website.
The ICBC is China's largest commercial bank as well as the world's largest bank by assets, while ICBC Turkey was established after the lender purchased a majority of shares of Turkey's Tekstilbank in May 2015 and has been licensed for commercial banking, investment banking and asset management.
Over the years, ICBC Turkey has been financing major projects under the Belt and Road Initiative and supporting Turkey's economic, industrial and social development. It has established business contacts with 75 of the top 100 local customers.