ISTANBUL - The Turkish branch of the Industrial and Commercial Bank of China (ICBC) was recognized for excellence in corporate banking by the Britain-based Global Banking and Finance Review, a magazine of the global finance industry, the ICBC said in a press release on Thursday.

ICBC Turkiye won the "The Next 100 Global Awards 2023 - Corporate Banking" award at the Global Banking & Finance Awards 2023, which evaluates the innovations, leading strategic changes, and achievements of the brands in the banking and financial sector.

"We are proud to be honored with a valuable award this year at the Global Banking and Finance Awards 2023," ICBC Turkiye Chairman Gao Xiangyang said.

ICBC aims to contribute to Turkish economic and social development by serving as a financial and cultural bridge between China and Turkiye, said Gao, adding the target is to further strengthen this cooperation model through financing infrastructure projects and private sector investments crucial for development in the upcoming period.

"We will continue to support the country's economy by carrying Chinese-Turkish economic relations to a much stronger level with the product range and high-quality services we offer," he pointed out.

ICBC is China's largest commercial bank and the world's largest bank by assets. ICBC Turkiye was established after the bank acquired the majority share of Turkiye's Tekstilbank in May 2015.