Industrial and Commercial Bank of China
The Industrial and Commercial Bank of China (ICBC; 中国工商银行) is a Chinese multinational bank.
Headquarters in Beijing | |
Native name | 中国工商银行 Zhōngguó Gōngshāng Yínháng |
|---|---|
| Company type | Public State-owned |
Traded as | |
| ISIN | CNE1000003G1 |
| Industry | Financial services |
| Founded | 1984 |
| Headquarters | Beijing , China |
Key people | |
| Products | Finance and insurance, consumer banking, corporate banking, investment banking, investment management, global wealth management, private equity, mortgage loans, credit cards |
| Revenue | CN¥725.12 billion $105.4 billion (2018) |
| CN¥369.32 billion $53.68 billion (2018) | |
Net income | CN¥298.72 billion $43.42 billion (2018) |
| AUM | CN¥6.9 trillion ≈ US$1.0 trillion (2022) |
| Total assets | CN¥27.70 trillion US$4.02 trillion (2018) |
| Total equity | CN¥2.33 trillion $338.7 billion (2018) |
| Owner |
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Number of employees | 434,798 (2022) |
| Capital ratio | 12.87% (CET1) |
| Website | icbc.com.cn icbc-ltd.com/en icbc-us.com |
| Industrial and Commercial Bank of China | |||||||
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| Simplified Chinese | 中国工商银行股份有限公司 | ||||||
| Traditional Chinese | 中國工商銀行股份有限公司 | ||||||
| Literal meaning | China Industrial and Commercial Bank, Company Limited by Shares | ||||||
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| Alternative Chinese name | |||||||
| Simplified Chinese | 中国工商银行 | ||||||
| Traditional Chinese | 中國工商銀行 | ||||||
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| Second alternative Chinese name | |||||||
| Chinese | 工行 | ||||||
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Founded as a limited company on 1 January 1984, ICBC is a state-owned commercial bank. With capital provided by the Ministry of Finance of China, the bank's Tier 1 capital in 2013 was the largest of one thousand global banks, being the first bank headquartered in China to achieve this distinction in modern history. Subsequently, ranked the largest bank in the world 2017 and 2018, by total assets, (31 December 2020, US$4.324 trillion), ICBC was positioned at 1st in The Banker's Top 1000 World Banks ranking, every year from 2012, and first (2019) on the Forbes Global 2000 list of the world's biggest public companies. ICBC is also the 3rd largest bank in the world by market capitalization at $211 billion (31 December 2022).
Furthermore, ICBC is considered one of the most profitable companies in the world, ranking fourth according to Forbes. It is considered a systemically important bank by the Financial Stability Board.
Several former employees of ICBC have moved on to work in prominent government positions in China. Notable ICBC alumni include CSRC Chairman Huiman Yi, and Deputy Governor of the People's Bank of China Gongsheng Pan.