Industrial and Commercial Bank of
China Ltd. (ICBC) is the largest bank in the world by total assets
and market capitalization. It is one of China's Big four state-owned
commercial banks (the other three being the Bank of China, Agricultural Bank of
China, and China Construction Bank. It was founded as a limited company on
January 1, 1984. As of March 2010, it had assets of RMB 12.55 trillion
(US$1.9 trillion), with over 18,000 outlets including 106 overseas branches and
agents globally. In 2013, it ranked number 1 on list of world’s biggest
public companies and number 1 in The Banker's Top 1000 World Banks ranking
the first time ever for a Chinese bank, remaining top in 2014. The
company is a public company listed on the Shanghai Stock exchange and the SSE. And
is involved in the banking, financial and investment services industry. Founded
in Beijing, China 1984, and its headquarters is also in Beijing China. Jiang
Jianqing is the chairman and executive director, Luo Xi as vice president.
The bank offers the following products and services: Finance and insurance,
consumer banking, corporate banking, investment banking, investment management,
global wealth management, private equity, mortgages and credit cards. The
bank's website is ICBC.com, and the bank employs over 405,000 employees as of
2011. The major owner of the bank is the Chinese government. As of 2011 their
total assets is 15 trillion Chinese yen, and revenue of 475 billion Chinese
yen.
In 1990 ICBC opened a branch in Luxembourg which became the
European headquarters of the bank in 2011. ICBC (Europe) S.A. operates a
network covering branches in major European cities, namely Paris, Amsterdam,
Brussels, Milan, Madrid, Barcelona, Warsaw and Lisbon. In 2006 The bank's Hong
Kong operations are listed under the name ICBC Asia. It has purchased the
Hong Kong subsidiary of Fortis Bank and rebranded it under its own name on
10 October 2005. In the run up to its planned initial public offering, on 28
April 2006, three "strategic investors" injected US$3.7 billion into
ICBC:
The ICBC building in Tokyo
As of 2006, ICBC has 2.5 million
corporate customers and 150 million individual customers.
As of June 29, 2009, ICBC is ranked
the 17th largest bank in the world by assets and 8th in the world by tier 1
capital. In July 2007 it was ranked 30th in the world in terms of
revenue. In millions of Chinese RMB (Yuan) in 2005:
- Manufacturing: 662,376 20.1%
- Transportation, storage, postage &
telecommunications: 367,371 11.2%
- Power, gas and water: 281,179 8.6%
- Retail and wholesale, catering: 265,906 8.1%
- Property development: 194,024 5.9%
- Social service organization: 103,070 3.1%
- Construction: 89,666
2.7%
- Other industries: 313,804 9.5%
- Discounted bills: 392,717 11.9%
- Personal loans: 515,042 15.7%
- Overseas business:104,398
3.2%
Total: 3,289,553
The bank’s loans are collateralised by secured
mortgages, other collateral, guaranteed loans and unsecured loans.
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