Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
ICBC bank
Companies and corporations

Chinese ICBC bank: the field of activity of the financial conglomerate

17.09.2020
2 min read

ICBC Bank: history of creation and establishment of the corporation

China has shown excellent progress and economic growth in recent years. The country is promising in terms of doing business and has its own corporations that have conquered the international market. Their financial organizations deserve special attention. ICBC Bank is one of the best known. It operates in many countries, has offices and branches in different parts of the world.
The Corporation provides services in the sphere of banking and insurance, deals with investment direction. ICBC shares are listed on the Hong Kong and Shanghai stock exchanges and on OTC Pink.
The bank was founded in 1984 as a public institution. Until today, the main office is located in the capital Beijing. The precondition for the creation of this organization was the process of modernization of the financial system, which was decided in 1978 at the plenary session of the government. The first stage of the reform was the division of functions of the People’s Bank of China. It retained the authority of the country’s central bank, and ICBC or the Industrial and Commercial Bank of China was established to lend to the industrial segment. All regional branches of Halyk Bank have passed to it.

ICBC bank

ICBC has recorded excellent growth results during its first 10 years of operation. Its main figures increased on average by 20% per year. While in 1984 the amount of deposits was 170 billion yuan, in 1993 it had already reached 884 billion yuan. During this period, the number of loans issued increased from 247 billion to 1.113 trillion yuan. By 1993, ICBC Bank had a 40% share in the domestic market in terms of all loans issued.
At the end of 90s the reorganization of a financial institution from a state to a commercial one began. The main procedure was to reduce the number of overdue loans, some of which were transferred to China Huarong Asset Management Co. At the same time, the bank’s activities are expanding beyond China, and representative offices are being opened in Hong Kong and Luxembourg. The latter will later become the bank’s headquarters in Europe. By 2004, ICBC accounted for 18% of the total Chinese segment.
In 2005, the corporation became a joint stock company with limited liability. In 2005, the Hong Kong and Shanghai stock exchanges were listed. In 2008 ICBC opened a representative office in New York, in 2011 – in Spain and Pakistan. In 2014, the bank became the first Chinese financial institution with an office in Kuwait. Starting from 2016 he started to provide deposits in Russia.
Now ICBC bank serves more than 6 million corporate clients, 567 million – individuals.

Tags: Companies and corporations
0
Previous Post When it's worth buying bitcoin, when it's better to wait: the look of Morgan Stanley analysts Next Post Larry Page: Biography, co-founder of Google and search engine author

You Might Also Like

ExxonMobil company
Companies and corporations
ExxonMobil: history of origin
29.07.2020
Discovery channel
Companies and corporations
History of the Discovery Channel and its parent company
24.05.2023
Biogen Inc
Companies and corporations
Biopharmaceutical Corporation Biogen Inc: scope of activity and developments
05.04.2021
Meta Platforms
Companies and corporations
Meta Platforms: characteristics of the structure of one of the most expensive technology companies
21.03.2023
Christian Dior
Companies and corporations
Christian Dior fashion house: commitment to the idea of Christian Dior
13.11.2022
Johnson & Johnson
Companies and corporations
Products given to the world by Johnson & Johnson Corporation
07.12.2022

Recent Posts

  • 1investment in Turkey's steel industry
    Yıldız increases investment in the Turkish steel industry
    20.09.2023
  • 2Abu Dhabi Exchange
    The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
    18.09.2023
  • 3mobile marketing
    How mobile marketing helps to retain existing customers and attract new ones
    16.09.2023
  • 4E-commerce company Rakuten
    Japan’s Rakuten intends to raise funds by issuing shares
    14.09.2023
  • 5coal mining
    Coal mining in India has increased by more than 22% in 5 years
    12.09.2023

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Latest Posts

investment in Turkey's steel industry
Yıldız increases investment in the Turkish steel industry
20.09.2023
Abu Dhabi Exchange
The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
18.09.2023
mobile marketing
How mobile marketing helps to retain existing customers and attract new ones
16.09.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023
  • IMF forecast: what is expecting the world economy next year
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics