Industrial And Commercial Bank Of China

978 Words Nov 22nd, 2016 4 Pages
Industrial and Commercial Bank of China (ICBC), a state-owned commercial bank, is a strong pillar of the development of basic industries in China, and its role in the financial system is and will always be irreplaceable. The most obvious function is to support the real economy. During 2015, the balance of loans extended by the bank to strategic emerging industries reached RMB369.729 billion, increasing by 11.99% over the prior year; the balance of loans to cultural industries reached RMB175.457 billion, increased by 14.36%. And it offers diversified financial products and services to over 5 million corporate customers and nearly 500 million personal customers. (source annual report)

Business activities
Net loans and advances to customers accounted for 52.5% of total assets; investment accounted for 22.5% and cash and balances with central banks accounted for 13.8%.The business activities can be divided into 3 main categories: corporate banking, personal banking, financial asset services.

ICBC accelerated the transformation of corporate banking business including corporate deposits and loans, small and medium-sized enterprise business and other businesses, aimed at satisfying the real economy’s financing requirements through a variety of channels.

To meet the diversified financial needs of customers, the bank made some innovation of all products including payment, deposit, financing, bank card, trading, insurance, investment and wealth management to enhance the customer…
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