Ind & Comm Bank of China Ltd / ICBC (1398.xhkg)

Ind & Comm Bank of China Ltd / ICBC (1398.xhkg)

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Ind & Comm Bank of China Ltd / ICBC (1398.xhkg) Profile

Ind & Comm Bank of China Ltd / ICBC (1398.xhkg) is a state-owned commercial bank headquartered in Beijing, China. The bank provides a comprehensive range of financial products and services to 8.6M corporate customers and 680M personal customers, gaining wide recognition in supporting pandemic containment, promoting inclusive finance, backing poverty alleviation and rural revitalisation. ICBC is the world’s largest bank with a total asset of $4.324T (USD) and has been ranked first for 7 years in a row by The Banker’s Top 1000 World Banks. ICBC’s correspondent network has expanded to 145 countries and regions with 1,502 foreign correspondent banks. It has set up 426 institutions in 47 countries and regions, including Africa, Asia, Latin America, Europe, America, and Australia. ICBC has become the first Chinese bank purchasing institutions engaged in market transaction businesses like commodities, capital and currency, capable of providing trading services in commodities, foreign exchange, interest rate, credit and equity to customers globally. ICBC employs 439,787 people, and the ICBC stock (1398.xhkg) is listed on the Shanghai Stock Exchange (SHA) and The Stock Exchange of Hong Kong Limited (HKEX) and had a market capitalisation of $259B (USD) as of December 2021. The Bank aims to keep implementing the guidelines for transformation, focus on the in-depth transformation of the business model, improve the core competitiveness and push forward the sound and sustainable development of all businesses.

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