SANYA, China, April 14 (Reuters) - Industrial and Commercial Bank of China Ltd , the world's biggest bank by market value, plans to increase its global footprint by setting up new branches in countries such as Brazil, India and Pakistan, and has no plans to acquire European banks, its chairman said on Thursday.
ICBC aimed to draw 10 percent of its assets and profit from overseas operations by 2016, up from 4 percent now, Chairman Jiang Jianqing told Reuters in an interview ahead of the Boao Forum in the southern province of Hainan.
The bank did not plan to acquire any European banks in the near future, he said.
ICBC has been aggressive in creating a larger presence overseas through acquisitions and setting up branches.
It acquired 80 percent of Bank of East Asia Ltd's U.S. business in January. [ID:nTOE70M00G]
ICBC also opened five branches in Europe this year, and had applied to open one in Peru. Brazil's central bank said this week that ICBC would establish a presence in Brazil, capitalised initially at $100 million.
ICBC's shares were down 1.06 percent in Hong Kong at the midday trading break, underperforming the Hang Seng Index's 0.4 percent loss. (Reporting by David Lin and Terril Yue Jones; Editing by Lee Chyen Yee)