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What is Industrial and Commercial Bank of China mean?
Industrial and Commercial Bank of China Limited (Chinese: 中国工商银行; pinyin: Zhōngguó gōngshāng yínháng; abb. ICBC) is a multinational Chinese banking company.
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 to 2019, and first (2019) on the Forbes Global 2000 list of the world's biggest public companies. 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 Chairman of CSRC Huiman Yi, and Deputy Governor of PBoC Gongsheng Pan.
referencePosted on 08 Dec 2024, this text provides information on Miscellaneous in Banking related to Banking. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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