Chinese bankers may be about to discover the joys of the foreign posting: a new culture, expat benefits and a head office that is far, far away. Flush with capital after initial public offerings, China's lenders are beginning to expand abroad, but unless they improve their risk management and operational skills it may all end in tears.

Industrial & Commercial Bank of China has applied for banking licences in the US and Russia and is looking at other markets as well. The roaring Shanghai stock market has turned China's lenders into some of the world's largest by market capitalisation; others, such as Bank of China and China Construction Bank, are also thought to be interested in growth overseas.