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![]() ICBC head office in Beijing | |
Native name | 中国工商银行 Zhōngguó Gōngshāng Yínháng[1] |
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Company type | Public State-owned |
ISIN | CNE1000003G1 |
Industry | Financial services |
Founded | 1984 |
Headquarters | , |
Key people | Liao Lin, chairman and president |
Products | Finance and insurance, consumer banking, corporate banking, investment banking, investment management, global wealth management, private equity, mortgage loans, credit cards |
Revenue | ![]() $105.4 billion (2018)[2][3] |
![]() $53.68 billion (2018)[2] | |
![]() $43.42 billion (2018)[2] | |
AUM | ![]() |
Total assets | ![]() |
Total equity | ![]() $338.7 billion (2018)[2] |
Owner |
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Number of employees | ![]() |
Capital ratio | ![]() |
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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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.