Industrial and Commercial Bank of China

"ICBC" redirects here. For other uses, see ICBC (disambiguation).

Industrial and Commercial Bank of China
Native name
中国工商银行
Zhōngguó Gōngshāng Yínháng[1]
Company typePublic
State-owned
ISINCNE1000003G1
IndustryFinancial services
Founded1984; 40 years ago (1984)
Headquarters
Beijing
,
China
Key people
Liao Lin, chairman and president
Products
RevenueIncrease CN¥725.12 billion
$105.4 billion (2018)[2][3]
Increase CN¥369.32 billion
$53.68 billion (2018)[2]
Increase CN¥298.72 billion
$43.42 billion (2018)[2]
AUMIncrease CN¥6.9 trillion ≈ US$1.0 trillion (2022)[4]
Total assetsIncrease CN¥27.70 trillion US$6.3 trillion (2018)[5]
Total equityIncrease CN¥2.33 trillion
$338.7 billion (2018)[2]
Owner
Number of employees
Decrease 434,798 (2022)[7]
Capital ratioIncrease 12.87% (CET1)[3]
Websiteicbc.com.cn
icbc-ltd.com/en
icbc-us.com
Industrial and Commercial Bank of China
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 meaningChina Industrial and Commercial Bank, Company Limited by Shares
Transcriptions
Standard Mandarin
Hanyu PinyinZhōngguó Gōngshāng Yínháng Gǔfèn Yǒuxiàn Gōngsī
Alternative Chinese name
Simplified Chinese中国工商银行
Traditional Chinese中國工商銀行
Transcriptions
Standard Mandarin
Hanyu PinyinZhōngguó Gōngshāng Yínháng
Second alternative Chinese name
Chinese工行
Transcriptions
Standard Mandarin
Hanyu PinyinGōngháng

The Industrial and Commercial Bank of China (ICBC; Chinese: 中国工商银行) is a Chinese state-owned multinational banking and financial services corporation headquartered in Beijing, China. It is the largest of the "big four" banks in China, and the largest bank in the world by total assets.[8] ICBC was created on 1 January 1984 from what were then the commercial banking operations of the People's Bank of China. ICBC is majority-owned by the Chinese government and has remained so after its landmark initial public offering in 2006. As of end-2021, ICBC shareholders included Central Huijin Investment (34.7 percent), the Chinese Ministry of Finance (31.1 percent), the National Council for Social Security Fund (3.5 percent), adding up to 69.3 percent under the ultimate control of the Ministry of Finance.

ICBC became the world's largest bank by total assets in 2012 (based on year-end balance sheet) and has kept this rank ever since.[9][6][10][5][11] It was ranked first on the Forbes Global 2000 list of the world's top public companies in 2015.[12] On 31 December 2022, it was the third-largest bank in the world by market capitalization at $211 billion.[13] It is one of the most profitable companies in the world, ranking fourth according to Forbes in 2022.[14] It has been designated a systemically important bank by the Financial Stability Board (FSB) since the start of the FSB's listing.

Several former employees of ICBC have moved on to work in prominent government positions in China. Notable ICBC alumni include China Securities Regulatory Commission Chairman Yi Huiman and People's Bank of China Governor Pan Gongsheng.

  1. ^ Chinese language version and transliteration here does not include the word "Limited", as shown within the introduction; c.f. (foot of p.207) "..ICBC's legal status was changed..its new name changed to ICBC Limited...", in, Franklin Allen, Darien Huang, Jun 'QJ' Qian, Mengxin Zhao (2012) — p. 207[permanent dead link‍] of (Masahiko Aoki, Jinglian Wu; editors) — The Chinese Economy: A New Transition[permanent dead link‍], published by Palgrave Macmillan 19 October 2012 ISBN 1137034300, ISBN 9781137034304 – accessdate 2020-02-08 ("limited" sourcedese+word+for+Industrial+and+commercial+bank+of+China&pg=PT"Section 1")], published by Routledge 15 July 2016, ISBN 1317528549, ISBN 9781317528548 – accessdate 2020-02-08 (page locatable using the search criteria "the chinese word for Industrial and commercial bank of China": link directs to Google return page not source; this source used to source "Pinyin", transliteration (phonetic) of pinyin version and to verify actual pinyin version)
  2. ^ a b c d "Annual Report 2018" (PDF). Industrial and Commercial Bank of China. Archived from the original (PDF) on 2 June 2019. Retrieved 31 May 2019.
  3. ^ a b "ICBC Annual Report 2016" (PDF). ICBC. Archived (PDF) from the original on 1 December 2017. Retrieved 28 November 2017.
  4. ^ "in pdf on page 91 (AUM)" (PDF). icbc.com.cn.
  5. ^ a b Francis Garrido & Saqib Chaudhry (2019) — The world's 100 largest banks, published 5 April 2019 by S & P Global – accessed 8 February 2020
  6. ^ a b 中央汇金投资有限责任公司 – (Central Huijin Investment Co., Ltd) & Bank Profiles, BankTrack, published November 2016, republished 2019 April 12 – accessdate 7 February 2020
  7. ^ "The World's Biggest Public Companies List – Forbes". Forbes. Retrieved 27 May 2022.
  8. ^ Jimenea, Adrian (30 April 2024). "The world's largest banks by assets, 2024". S&P Global.
  9. ^ The Banker, "Chinese bank tops global 1,000 ranking for first time". BBC. 1 July 2013. Archived from the original on 1 July 2013. Retrieved 1 July 2013.
  10. ^ Ban.k Rankings – Top Banks in the World, published by Accuity (Reed Business Information Limited) – accessdate 9 February 2020
  11. ^ http://www.icbc.com.cn/icbc/en/newsupdates/icbc%20news/ICBCRanksFirstamongTop1000WorldBanksforSevenConsecutiveYears.htm – accessed 2 February 2020 (this source was used to add part not all of the associated content)
  12. ^ "The World's Biggest Public Companies List – Forbes". Forbes. Archived from the original on 10 April 2015. Retrieved 6 November 2016.
  13. ^ "Statista".
  14. ^ "ICBC". Forbes. Retrieved 3 April 2022.