KUALA LUMPUR: The Industrial and Commercial Bank of China (M) Bhd (ICBC) has become the twenty-third member of the Association of Banks in Malaysia (ABM).

In a statement Friday, July 23, the ABM said the inclusion of ICBC makes it the fourteenth locally incorporated international bank operating in Malaysia under ABM's list of member banks.

It said the establishment of ICBC in Malaysia represented an important development in forging stronger business and financial ties between The People's Republic of China and Malaysia.

ABM executive director Chuah Mei Lin welcomed ICBC as ABM's newest member and said it looked forward to collaboration on various industry projects and issues.

"We believe that ICBC's foray into the Malaysian market is timely and will add value to the commercial banking sector," said Chuah.