Fromarecord-breakinginitialpublicoffering10yearagotoaclutchofindustryaccoladestoday,thepastdecadewitnessedthegreatestandfastestdevelopmentofthehighestqualityforIndustrialandCommercialBankofChina,accordingtothebank,thecountryand#39;slargestlender.
Withasoliddomesticfocus, thebankhasexpandeditsglobaloutlooktomorethan60countriesandterritories. TheassetsofICBCoverseasinstitutionsamountedto$ 279.83billionin2015.
SinceitestablisheditsfirstoverseasinstitutioninSingaporein1992, thebankand #39; sforeignagentsnowcover95percentofcountriesandregionsthathavebusinesstieswithChina.
Lastmonth, anewbranchofICBCopenedinQueensland, l-Awstralja.
andquot; ThenewICBCbranchwillbeabletofullysupportbusinessesengagedintradebetweenChinaandourstate, andquot; saidCurtisPitt, Queenslandand #39; sactingpremierandtreasurer. Alongwithitsexpansionofoverseasoperations, ICBCalsoprovidesimpetusforrenminbiinternationalization.
In2015, thegroupand #39; scrossborderrenminbibusinesstotaled4.41trillionyuan ($652billion), upby20.6percentyear-fis-sena, hittinganewrecordhigh.
ThePeopleand #39; sBankofChinaannouncedlastmonththatithasauthorizedICBCand #39; sMoscowofficeasarenminbiclearingbankinRussia.
Thebankand #39; sMoscowbranchhasbecomethebiggestChinesebankinRussia, accordingtoXinhuaNewsAgency.
Inaddition, itwasalsodesignatedtheoverseasrenminbiclearingbankinSingapore, Lussemburgu, il-Kanada, il-Qatar, l-ThailandandArgentina.
Thetwo-wayrenminbicrossborderfundpoolhasattractedmorethan200contractedcustomersanditscross-borderrenminbisettlementtotalapproached300billionyuanin2015.
Inthepastdecade, thecompoundgrowthrateofICBCoverseasinstitutionsand #39; assetsreached29.82percent.
Itisalsotheworldand #39; sfirstcommercialbanktoprovide24-siegħa, uninterruptedrenminbiclearingservices.
Besidesitsinternationalbusiness, ICBCalsolaunchedanumberofnewproductsforexportersoflargeintegratedequipmentandengineeringservices.
InMarch2015, duringtheIndonesianpresidentand #39; svisittoChina, ICBCreachedmultipleagreements, includinga5-biljun-yuanagreement, withIndonesiaEximbank.
.5billionfinancingstrategiccooperationagreementwithChinaRailwayCorp ICBChasalsosigneda$ 5, withthefundsusedtobuildaspecialrailwaylineforcoalinIndonesia.
A$ 20billionstrategiccooperationagreementwithIndonesiaand #39; sMinistryofState-OwnedEnterpriseswasalsoreachedduringthattime.
ICBCand #39; sWarsawbranchworkedcloselywithChineseenterprisestoparticipateinprojectswithatotalinvestmentof10billioneuros ($10 .88billion) inCentralandEasternEurope.
ThoseprojectsledtothesigningofninestrategiccooperationagreementsorfinancingagreementswiththeEuropeanBankforReconstructionandDevelopment,aswellascountriessuchasPoland,theCzechRepublic,Bulgaria,SlovakiaandBosniaandHerzegovina.
andquot; TherearemanydemandsandgrowthpotentialsavailableinBeltandRoadInitiativeregions, especiallyintermsofconnectivityandinfrastructure, andquot; saidYiHuiman, chairmanoftheboardofdirectorsofICBC.
andquot; ICBCwillleverageitsstrengthininternationalizedoperationtofacilitateinfrastructureconstruction, internationalproductioncapacitycooperationanddevelopmentinotherkeysectors, andquot; saidYi. andquot; Wewillalsoimplementinitiativestomeetthedemandsofenterprisesforglobalizedanddiversifiedfinancialservices.andquot;
Inaddition, ICBCand #39; sGermaninstitutionshavebeensupportingChineseenterprisestoinvestinGermany, actingasamergersandacquisitionsfinancingconsultantandloanarranger.
ThebranchesassistedWuhanIronandSteelCorptoacquireThyssenKruppAGand #39; slaserweldingbusiness. TheyalsoprovidedeurofinancingandlettersofguaranteeforWeichaiHoldingGroupCoLtd, amajorChineseautomobileandequipment-manufacturinggroup, toacquireandincreaseitsshareholdinginKionGroupAG.
andquot;ICBCisatacriticalphaseintransformingitsbusinessmodeltofitintoChinaand#39;soveralleconomictransition,andquot;saidZengGang,aseniorresearcherattheChineseAcademyofSocialSciencesand#39;InstituteofFinanceandBanking.
AmobilephoneappcalledICBCDirecthasrecentlybeenreleasedintheNetherlands, becominganewelementtoICBC (Ewropa) SAAmsterdamBranch.
ForoverseasChinesebankswithlimitedoutlets,theservicemodelofandquot;directaccountopeningandonlinecustomerserviceandquot;availablethroughdirectbankingmaynotonlyextendtheirservicecoveragebutalsoenhancemarketpenetrationandcustomerstickiness.
Barra minn hekk, thebankisalsomakingeffortstolocalizeitsbusinessandoptimizeitsassetsstructure.
ByleveragingHongKongand #39; smarketopportunitiesasanoffshorerenminbicenter, ICBC (Asja) hasexpandedandinnovateditsrenminbibusinessandcross-borderbankingservicesamongAsia-Pacificinstitutions.
Withitssolidgrowth, haswontheBestBankofLuxembourgaward ICBC (Ewropa), thefirstamongoverseasinstitutionsofChinese-fundedcommercialbanks.
