Industrial and Commercial Bank of China

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Industrial and Commercial Bank of China Limited
中国 工商 银行 股份有限公司

logo
legal form Centrally managed company
ISIN CNE1000003G1
founding January 1, 1984
Seat Beijing , People's Republic of ChinaChina People's RepublicPeople's Republic of China 
management Jiang Jianqing , Yang Kaisheng (CEO)
Number of employees 461,749 (2016)
sales 776 billion RMB (2019)
Website www.icbc-ltd.com

Branch in the Tianyin Mansion in Beijing

The Industrial and Commercial Bank of China Limited ( ICBC , Chinese  中國 工商 銀行 股份有限公司  /  中国 工商 银行 股份有限公司 , Pinyin Zhōngguó Gōngshāng Yínháng Gǔfèn Yǒuxiàn Gōngsī , also 中國 工商 銀行  /  中国 工商 银行  - "Chinese industrial and commercial bank" ) - in terms of total assets - the largest bank in the people's Republic of China and the world. With sales of $ 176 billion, it was ranked # 1 of the 2,000 largest publicly traded companies in the world in Forbes Global 2000 in 2019 . The bank's total market cap in early 2019 was $ 305 billion. With around 4 trillion. US dollar (2018), the bank is the largest in the world by total assets.

The bank has 17,200 branches (2016) in which 5.8 million business and 530 million private customers are served. With 412 branches outside Asia, the company is active worldwide.

Foundation and company history

The bank was established on January 1, 1984 with registered capital of 20.8 billion yuan . In October 1989, the first bank card was issued with the Peony Card . A year later, the bank's first internal national computer network was inaugurated, which at that time connected 91 cities. In 1991 the bank was ranked number 8 of the 500 largest banks in the world according to Euromoney magazine . With a subsidiary in Singapore , the company took the first step into the international field in 1992. The savings deposits in the bank in 1993 were approximately 500 billion yuan. The first agency in Europe was opened in November 1995 in London . Internet banking for private customers became possible from February 2003. In February 2004 PricewaterhouseCoopers was commissioned to draw up a restructuring plan. From April 2005 the restructuring of the credit institution began.

On October 28, 2005, the bank was officially converted into a private company, with equity of 248 billion yuan. Half of the capital was held by the Ministry of Finance of China and the state Central SAFE Investments Limited . On October 27, 2006, the bank placed shares worth the equivalent of EUR 17.5 billion on the stock exchanges in Hong Kong and Shanghai . This was the largest IPO in history to date . A total of 5.77 billion A-shares were issued to strategic investors, 2.35 billion to institutional investors and 6.83 billion to private investors

In December 2017, the company received a banking license in Switzerland.

Group structure

The company has international branches in Busan ( South Korea ), Frankfurt am Main ( Germany ), Hong Kong , Lisbon (Portugal), Luxembourg , Macau , Moscow (Russia), New York (USA), Singapore , Seoul (South Korea), Sydney (Australia ), Tokyo (Japan), Vienna (Austria) and Zurich (Switzerland).

In 2007, the Industrial and Commercial Bank of China overtook Citigroup as the highest-rated bank with a market capitalization of 1.737 trillion yuan (about 181 billion euros) . The total assets in 2014 were 24 trillion yuan. The company employed around 462,000 people in 2016.

The company is not to be confused with the Chinese company Industrial Bank .

See also

Web links

Commons : Industrial and Commercial Bank of China  - Collection of Pictures, Videos and Audio Files

Individual evidence

  1. ↑ a b c d 2016 Annual Report. Industrial and Commercial Bank of China Limited, March 30, 2017, p. 301 , accessed July 3, 2015 .
  2. ↑ 2019 Annual Report. Industrial and Commercial Bank of China Limited, April 24, 2020, accessed June 14, 2020 .
  3. ^ ICBC on the Forbes Global 2000 List . In: Forbes . ( forbes.com [accessed November 20, 2017]).
  4. ↑ Wells Fargo replaces Chinese ICBC as largest bank in the world ( Memento from March 27, 2012 in the Internet Archive ) WSJ Online, accessed on July 24, 2013
  5. ↑ http://www.snl.com/web/client?auth=inherit#news/article?id=40223698&cdid=A-40223698-11568. Retrieved March 9, 2018 .
  6. ^ The world's 100 largest banks. Retrieved January 10, 2020 (American English).
  7. ^ Brief Introduction to ICBC. Industrial and Commercial Bank of China Limited, archived from the original on March 21, 2008 ; Retrieved October 26, 2006 .
  8. ↑ a b IPO generates $ 22 billion. Manager Magazin, October 23, 2006, accessed October 26, 2006 .
  9. ↑ Chinese major bank ICBC receives Swiss banking license. Reuters, December 13, 2017, accessed December 17, 2017 .
  10. ↑ China ICBC tops Citigroup as world's biggest banks. Reuters 23 July, 2007, accessed on 14 February 2013 .