Headquartered in Beijing, ICBC is one of the Big Four banks in China and is generally considered as one of the largest banks in world.
It is first Chinese bank to achieve such a feat as it ranks at top in most of the bank ranking lists including Forbes and The Banker. Founded in 1984, ICBC climbed up the stairs very fast becoming people’s bank in China.
ICBC opened up in Europe in 1999 to expand globally. The bank’s Hong Kong operations are listed under the name ICBC Asia. ICBC was simultaneously listed on both Hong Kong Stock Exchange and Shanghai Stock Exchange in 2006. It was world record at that time till AgBank broke it in 2010. In 2008, ICBC entered in US market after it got federal approval to establish a branch in New York City.
Industrial & Commercial Bank of China provides different services including collateral loans, consumer banking, corporate banking, Investment banking, Global Wealth management, credit cards, etc. It is operated by Chinese government, and thus, it has gained people’s trust in very little time.
ICBC has around 466,350 employees employed worldwide to cater to the needs of customers. Considering its progress in last few years, ICBC stands to stay in a great position for near future.
Total Revenue: $ 107.87 B
Tier-1 Capital: $ 276.15 B
Step1: Top 15 companies were shortlisted based on their revenues in last year
Step2: Weightages were assigned to parameters revenue and tier-1 capital and weighted score was found for each company
Step3: Companies were ranked according to their final scores