Industrial and Commercial Bank of China (ICBC) is the largest of China's Big Four state-owned commercial banks, the other 3 banks being the Bank of China, Agricultural Bank of China, and China Construction Bank, the largest bank in the world in terms of market value and one of the world's top 10 banks by assets.
As of 30 June 2006, it had assets of US$893 billion, 18,764 outlets including 106 overseas branches and 1,165 agents globally. In July 2007, with a market capitalisation of US$254 billion it became the world's most valuable bank after a strong gain in its share price, overtaking Citigroup Inc.. ICBC was simultaneously listed on both the Hong Kong Stock Exchange and Shanghai Stock Exchange on 27 October 2006. It was the world's largest IPO to date, surpassing the previous record US$18.4 billion IPO by Japan's NTT DoCoMo in 1998. China's largest commercial bank is also the first company to debut simultaneously on both the Hong Kong and Shanghai stock exchanges.
Industrial and Commercial Bank of China (ICBC) :: Press Releases
07.07.2010 ICBC Wins International Accolade for Corporate Governance. More
21.12.2009 ICBC was celebrated as the «Best Corporate Citizen 2009» during the «China's Corporate Citizenship Forum 2009 & 6th China's Best Corporate Citizenship Award Ceremony» organized by 21st Century Business Herald and 21st Century Business Review. More
Business and Financial News
Best Banks in Central and Eastern Europe for 2009 - 14.05.2010 The following are the «Best Banks in Central and Eastern Europe for 2009» according to rankings published by Global Finance magazine: Source: Global Finance
Big banks slashed small business credit lines - 13.05.2010 The biggest Wall Street banks slashed their small business loan portfolios by 9% between 2008 and 2009, more than double the rate at which they cut their overall lending, according to a government report released Thursday. Source: CNN Money
European Union agrees on €750bn bailout fund for eurozone - 10.05.2010 Crisis-hit Europe on Monday announced a monster rescue package running to 750 billion euros between euro countries and the IMF, sending the euro surging in Asian trade. Leaders hope an unprecedented international intervention, worth just shy of one trillion dollars, will represent a game-changing European financial war chest, which will also be backed by European Central Bank action to nudge debt and currency markets. Source: Financial News
Debt crisis may hurt banks outside Greece - 06.05.2010 Credit ratings agency Moody's Investor Service said the banking systems in Portugal, Italy, Spain, Ireland and Britain could all be hurt by a widening debt crisis. Source: Associated Press
Bank of Russia cuts discount rate - a historic low for Russia - 04.05.2010 The Bank of Russia slashed its discount rate by another 0.25 percent from April 30. Starting tomorrow, the rate will be 8 percent per annum - a historic low for Russia. Source: RBC
Industrial and Commercial Bank of China (ICBC) is the largest of China's Big Four state-owned commercial banks, the other 3 banks being the Bank of China, Agricultural Bank of China, and 