Industrial and Commercial Bank of China

By Kenneth Lavender
Company History
● Industrial and Commercial Bank of China was established on 1 January 1984 by Deng Xiaoping and the
State Council of China.
● In 1999, It began first local investments outside of China in Europe by founding ICBC Europe Branch to
develop ties and relations with China.
● In 2005, it began investments in Asia by founding in Hong Kong, the ICBC Asia. It also purchased BNP
Paribas Fortis Bank in 2005 which was one of the largest european banks and won ICBC minority control in
BNP Paribas.
● In 2006, ICBC announced it would be selling public stock after the company announced its first 1 trillion
net profit
● The 2008 initial stock offering (IPO) was $21.9 billion dollars, which at the time was the world’s most
valuable stock offering. The federal government in 2008 as a result gave ICBC approval to set a foreign
bank in New York creating ICBC Usa Branch.
● 2011-12, it created ICBC Pakistan after earning a banking licence from the Pakistani government and
bought Standard Bank of Argentina turning it into ICBC South America after Argentina defaulted on 90
billion dollars of debt. It also in 2011, formed ICBC Spain through the purchase of several banks in Madrid,
Catalonia’s capital of Barcelona and Andorra when the spanish economy crashed.
● During the years of 2014/15, ICBC set up ICBC Middle East by building new banks in Kuwait, Dubai, Abu
Dhabi and Doha when IAIB announced a 10 year plan of over 2 trillion dollars in potential investment
projects.
Company Description
The ICBC offers its customers and future clients a broad array of
financial services including:
● Currency exchange
● Wealth management
● Loans or startup capital
● Exclusive services-Insurance or private security
● Property Banking
● Letters of financial credibility or silent partnership in business ventures
● Stock or other investment services
● Debt management for domestic or foreign clients (aka: United States)
Company Description
The ICBC is a:

● State chartered corporation with class H and A public stock

● 75.7% of stock is owned by the Chinese government and 24.3% other investors

● 2016-Revenue: CN¥668.733 billion Net Profit: CN¥277.131 billion

● Total Asset Worth: CN¥22.210 trillion(There is an estimated additional several
trillion in asset worth which is a state secret) Total Equity: CN¥1.789 trillion
● Total Employees: 466,000 globally
ICBC Charity Program.