The Industrial and Commercial Bank of China (ICBC) (HKG: 1398) (601398.SS) (OTC:
ICBAF) and Russia's VTB Group (RTSE: VTBR) (VTBR.MM) (LSE: VTBRq) have expanded a trade finance agreement, enabling the Russian state-controlled bank to support yuan- and euro-denominated trade with China, as well as US dollar trade.
Beijing-based Industrial & Commercial Bank of China Limited (ICBC) (HKG: 1398) (601398.SS) (OTC:
ICBAF) in March bought a 20 percent stake in Standard Bank Group Limited (SBK.JNB), Africa's biggest banking concern.
Goldman Sachs Group (NYSE: GS) has increased its stake in China-based Industrial and Commercial Bank of China (ICBC) (
ICBAF.PK).