The secret for China's bank giant ICBC to squeeze into the Western financial hub is to set its image as a local one, Diao Ying reports from London.

The new headquarters of ICBC (London) Plc. The operation made a profit of $30 million (23 million euros) last year and is estimated to earn more this year, according to Xu Jinlei, general manager of the London bank. Photos by Diao Ying / China Daily

The six-storey home of the Industrial and Commercial Bank of China Ltd in London is well positioned between two of the capital's major landmarks.

Ten minutes' walk in one direction is the Tower of London, and five minutes in the other is the famed Old Lady of Threadneedle Street, the Bank of England. But when you step into the bank building you are suddenly in the Orient.

The lights that hang from the ceiling are shaped like Chinese lanterns. Windows are decorated with black wooden grids, something you would see in a traditional Chinese home. Bamboo plants stand in corners; meeting areas are separated with orange screens.

A delicate balance between East and West is what Xu Jinlei, general manager of ICBC (London) Plc, is trying to achieve.

Despite its reputation as China's most well-recognised bank, and leaving aside the fact that ICBC is the world's largest bank by market capitalisation and has 244 overseas branches in 34 countries and regions, it wants to establish an image as a local bank in the Western financial hub.

"We comply with regulations of local authorities and carry out our business professionally," Xu said.

"Our strategy is to let our clients see us as a local bank, instead of a Chinese one."

Xu Jinlei, general manager of ICBC (London) Plc

To a certain extent, the goal has been achieved. About 75 percent of its staff are local. It also generates most of its revenue from international firms instead of Chinese companies.

In fact, the money that it made from local business has been enough for it to buy the building housing its offices on King William Street, EC4.

"The new office building shows our commitment to the market," Xu said.

"It is also a necessity. Our old office is no longer big enough to support all the functions and growing business."

The London bank's profit last year was about 19 million pounds ($30 million) and Xu estimates that profit this year will be even bigger.

The achievement did not come easily as ICBC started with distinct disadvantages when it entered the British market. The London operation of ICBC was established in 2003 though the bank set up a representative office in London in 1995.

ICBC in China is strong in retail banking. But this is a highly competitive area in Britain, dominated by giants such as HSBC and Lloyds Banking Group.

Serving Chinese companies in Europe seemed to be a natural choice, but the trading volume was too small, and the more established firms had already forged close ties with local financial institutions before ICBC arrived.

"We were in a very difficult position, and we had to find our own way of doing business in London," said Xu, who has worked at ICBC in London since 2005, after working at the bank's headquarters in Beijing and in its office in Tokyo.

It had to find a niche of its own to survive and grow, Xu said.

A new field it found was to act as a bridge in trade between China and European markets.

London has always been a potential source for companies in the Middle East, Europe and Africa seeking investments, which explains its location and its role as the international financial centre.

But for sure, ICBC has created a solid customer base in the UK as more companies in these regions seek to export commodities and raw materials to China.