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The original purpose of ICBC was to provide universal and affordable compulsory public auto insurance in British Columbia by operating on a non-profit basis. [3] [4] However, in March 2010, Christy Clark's BC Liberal government announced that it would require ICBC to pay the province dividends totaling some $778 million over three years, thus signaling the end of ICBC's operation as a non ...
In June 2009, ICBC spent 80.25 million Canadian dollars (US$58.53 million) to acquire a 70% stake in the Bank of East Asia (BEA). [31] By the end of 2009, the number of credit cards issued exceeded 52 million, a 33% increase equivalent to nearly 13 million cards compared to the previous year.
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The bank was renamed as ICBC (Asia) after the acquisition by ICBC in July 2001. On 30 April 2004, ICBC (Asia) acquired the retail banking business (but not the wholesale banking business) of Fortis Bank Asia HK from Fortis. Fortis Bank Asia became a wholly owned subsidiary of ICBC (Asia) and reverted to its earlier name, Belgian Bank. On 10 ...
ICBC Financial Services, the U.S. unit of China's largest commercial lender by assets, said it was investigating the attack that disrupted some of its systems, and making progress toward ...
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