What is the Industrial and Commercial Bank of China (ICBC)?
The Industrial and Commercial Bank of China (ICBC) is a Chinese multinational bank and the largest in the world.
It is one of the 'Big Four' state-owned commercial banks in China, alongside the Bank of China, Agricultural Bank of China, and China Construction Bank.
Where have you heard about the Industrial and Commercial Bank of China (ICBC)?
The Industrial and Commercial Bank of China ranks first on Forbes’ Global 2000 list of the world’s biggest public companies. In 2016 it had a market cap of $198 billion.
In 2006, the ICBC became the first company to be listed simultaneously on the Hong Kong Stock Exchange and Shanghai Stock Exchange on its debut. Valued at $21.9 billion, it was the world's largest IPO at that time.
What you need to know about the Industrial and Commercial Bank of China (ICBC).
The ICBC was founded in January 1984 as a limited company. Its headquarters are located in Beijing, China.
Its commercial banking and financial services include:
- Corporate banking – corporate loans, corporate wealth management and trade financing
- Personal banking – personal loans, personal wealth management and bank cards
- Treasury operations – investment securities, foreign exchange transactions and holding derivatives
- Other - leasing services and non-segmented assets, liabilities and income
The ICBC gained federal approval to set up a New York City branch in 2008 – only the second Chinese bank since 1991 to do so.
In 2016, it was won the ‘Best Chinese Banking Performer’ award from Global Brands Magazine.