Industrial and Commercial Bank of China (Canada), formerly The Bank of East Asia (Canada), was founded in 1991; it was the Canadian unit of The Bank of East Asia Group or BEA in Hong Kong. The bank operates 5 branches in Canada and offers retail banking

Retail banking

Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...

 products catering to expatriate Hong Kong Chinese in Canada. The bank operated at Hong Kong Chinese themed malls or areas with large Hong Kong Chinese population. A 70% stake of the bank was sold by former parent Bank of East Asia

Bank of East Asia

The Bank of East Asia Limited often abbreviated to BEA, is the largest independent local bank and the third largest bank in Hong Kong. Its chairman and chief executive is Sir David Li...

 in January 2010 to Industrial and Commercial Bank of China

Industrial and Commercial Bank of China

Industrial and Commercial Bank of China Ltd. is the largest bank in the world by profit and market capitalization. It is one China's 'Big Four' state-owned commercial banks .It was founded as a limited company on January 1, 1984...

 and on July 2 the bank changed their name to the current. BEA retains a 30% stake as BEA focuses business in Hong Kong. Signage at all Canadian branches were changed to reflect the new ownership. BEA Canada is the second Hong Kong based bank to pull their Canadian operations. Standard Chartered Bank (Hong Kong)

Standard Chartered Bank (Hong Kong)

Standard Chartered Bank Limited is a licensed bank incorporated in Hong Kong, part of Standard Chartered Bank...

 sold their Canadian branches and operations

Standard Chartered Bank of Canada

The Standard Chartered Bank of Canada was the Canadian banking unit of the British Standard Chartered Bank. Standard Chartered bank was created by a merger of Standard Bank of British South Africa and the Chartered Bank of India, Australia and China in 1969...

 to Bank of Montreal

Bank of Montreal

The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...

 and Scotiabank

Scotiabank

The Bank of Nova Scotia , commonly known as Scotiabank , is the third largest bank in Canada by deposits and market capitalization. It serves some 18.6 million customers in more than 50 countries around the world and offers a broad range of products and services including personal, commercial,...

 respectively in the 1990s.

Operations

• Source:
• Head office, Ontario
• Toronto Downtown, Ontario
• Markham, Ontario
  Markham, Ontario
  Markham is a town in the Regional Municipality of York, located within the Greater Toronto Area of Southern Ontario, Canada. The population was 261,573 at the 2006 Canadian census...
  
  
• Mississauga, Ontario
  Mississauga, Ontario
  Mississauga is a city in Southern Ontario located in the Regional Municipality of Peel, and in the western part of the Greater Toronto Area. With an estimated population of 734,000, it is Canada's sixth-most populous municipality, and has almost doubled in population in each of the last two decades...
  
  
• Richmond, British Columbia
  Richmond, British Columbia
  Richmond is a coastal city, incorporated in the Canadian province of British Columbia. Part of Metro Vancouver, its neighbouring communities are Vancouver and Burnaby to the north, New Westminster to the east, and Delta to the south, while the Strait of Georgia forms its western border...
  
  
• Richmond Hill, Ontario
  Richmond Hill, Ontario
  Richmond Hill is a town located in Southern Ontario, Canada in the central portion of York Region, Ontario. It is part of the Greater Toronto Area, being located about halfway between Toronto and Lake Simcoe...
  
  
• Scarborough, Ontario
  Scarborough, Ontario
  Scarborough is a dissolved municipality within the city of Toronto, Ontario, Canada. Geographically, it comprises the eastern part of Toronto. It is bordered on the south by Lake Ontario, on the west by Victoria Park Avenue, on the north by Steeles Avenue East, and on the east by the Rouge River...
  
  
• Vancouver, British Columbia
  Vancouver
  Vancouver is a coastal seaport city on the mainland of British Columbia, Canada. It is the hub of Greater Vancouver, which, with over 2.3 million residents, is the third most populous metropolitan area in the country,...
  
  

Membership

ICBC Canada is a member of the Canadian Bankers Association

Canadian Bankers Association

The Canadian Bankers Association is a financial lobbying group that works on behalf of 52 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 267,000 employees. The CBA was organized in Montreal in 1891, making it one of Canada’s oldest interest...

 (CBA) and registered member with the Canada Deposit Insurance Corporation

Canada Deposit Insurance Corporation

-External links:*** Official CDIC site*...

 (CDIC), a federal agency insuring deposits at all of Canada's chartered banks. It is also a member of:

• Interac
  Interac
  Interac Association is a Canadian organization linking enterprises that have proprietary networks so that they may communicate with each other for the purpose of exchanging electronic financial transactions. The Association was founded in 1984 as a cooperative venture between five financial...
  
  
• MasterCard
  MasterCard
  Mastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
  
   International
• Cirrus Network for MasterCard