In the Euromoney China CFO Survey, ICBC, the largest commercial bank in China, took the lion's share of top prizes for banks. Completing a sweep of the Preferred Domestic Bank, Preferred Bank for Cash Management and Preferred Bank for Fixed Income, ICBC has come a long way in its battle for supremacy in China's domestic banking industry.
At ICBC, the customer reigns . As the pace of its customers with business needs overseas increases, ICBC has ensured its ability to service these requirements. Today, ICBC boasts more than 70 international branches and a network of over 1,000 overseas agency banks. In addition, ICBC has 20,000 retail outlets. The oldest of the domestic banks, ICBC dates back to 1904 and has served as the sovereign bank of the Qing Dynasty.
As evidence that service quality is a priority, ICBC has the largest number of customers with 100 million individual and 8.1 million corporate accounts. Another indication that the customer is essential, ICBC employs 390,000 staff.
By the end of 2003, the amount of personal loans hit US$50 billion and its mortgage business ranked top in China. ICBC is also the largest domestic bank for assets under management, supervising 28 funds with a total asset value of US$7 billion. Savings with ICBC reached US$550 billion, with loans amounting to US$410 billion and operating profits US$765 million.
