On November 24, 2015, Industrial and Commercial Bank of China Limited (“ICBC”) and Tauron Group, the second largest power enterprise in Poland, signed a syndicated loan agreement in Warsaw, with the value of loans totaling PLN 6.27 billion (RMB 10.032 billion). ICBC is one of the seven commercial banks participating in the syndicated loans and also the first Chinese bank that Tauron Group has ever cooperated with.

Founded in 2006, Tauron Group is the largest power distributor and the second largest power producer in Poland, with main businesses covering power generation, distribution and sales, heating, coal and renewable energy development. By the end of June 2015, with a total asset of PLN 34.32 billion (RMB 54.912 billion), the group had more than 5.38 million corporate and household customers, grabbed a local market share of 38% and boasted a total capacity of over 4,500MW.

According to an ICBC official, ICBC has consistently valued the markets in central and eastern Europe. Warsaw Branch was set up on November 22, 2012 as ICBC’s first branch in central and eastern Europe and also the first Chinese bank approved for business operation in Poland. So far, ICBC’s overseas network has expanded to 42 countries and territories across the globe, making it the Chinese financial institution with the broadest global network coverage. In addition, it indirectly covers 20 African countries through equity participation in Standard Bank of South Africa, forming a relatively complete global service network.