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Industrial and Commercial Bank of China Limited (ICBC)
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Industrial and Commercial Bank of China Limited (ICBC)

by Jennifer DemirJune 25, 2017
Overview
Type

Public company

Abbreviation

ICBC

Traded as

SSE: 601398 (A ordinary)
SEHK: 01398 (H ordinary)
SSE: 360011 (CNY Preference)
SEHK: 84602 (CNH Preference)
SEHK: 04603 (US$ Preference)
SEHK: 04604 (€ Preference)
OTC Pink: IDCBY

Founded

1984

Industry

Banking
Financial services
Investment services

Headquarters

Beijing, China

Area served

Worldwide

Products

Finance and insurance
Consumer banking
Corporate banking
Investment banking
Investment management
Global wealth management
Private equity
Mortgage loans
Credit cards

Phone Number

86 10 6610 6114

Website

http://www.icbc.com.cn/ICBC/EN/

Industrial and Commercial Bank of China Limited (ICBC)

Industrial and Commercial Bank of China Limited (ICBC) provides various banking products and services worldwide. It operates through Corporate Banking, Personal Banking, and Treasury Operations segments. The Corporate Banking segment offers financial products and services to corporations, government agencies, and financial institutions. This segment’s products and services include corporate loans, trade financing, and deposit-taking activities; corporate wealth management services; and custody activities, various corporate intermediary services, etc. The Personal Banking segment provides personal loans and cards, deposit-taking, personal wealth management, personal intermediary services, etc. to individual customers. The Treasury Operations segment is involved in the money market transactions, investment securities, and foreign exchange transactions, as well as holding of derivative positions. The company also offers e-banking services, including Internet, telephone, and mobile banking services; and fund and asset management, trust, financial leasing, insurance, and other financial services. As of December 31, 2016, it operated approximately 16,788 domestic institutions and 412 overseas institutions, as well as approximately 1,507 correspondent banks. The company was formerly known as Industrial and Commercial Bank of China. Industrial and Commercial Bank of China Limited was founded in 1984 and is headquartered in Beijing, the People’s Republic of China.

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About The Community Member
Jennifer Demir
History of banking: Banking began with the first prototype banks of merchants of the ancient world, which made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders based in temples made loans and added two important innovations: they accepted deposits and changed money. Archaeology from this period in ancient China and India also shows evidence of money lending activity...

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