It was reported that since this year, the custodian service by ICBC has won seven domestic and international awards consecutively, among which three major authoritative international financial media, The Assets of Hong Kong, Global Custodian of UK, and Global Finance of US, all granted the award of "2007 Best Sub-Custodian Bank in China" to ICBC.
The domestic financial media Securities Times and Digital Times just started evaluating the Chinese custodian banks this year and they also granted the titles of the "Best Custodian Bank (Fund) in China" and the "Best Custodian Bank in China" to ICBC successively. To honor ICBC's great contribution to the development of fund business in China, Shanghai Securities News specially granted the bank the "Golden Fund Award: Ten Years of Outstanding Contribution Award ".ICBC was the only custodian bank that received this honor.
Moreover, the "Integrated Custody Project of Securities Investment Fund" of ICBC won the "2007 Best Innovation Award of Science and Technology Award for Securities and Futures Industry" from the Securities Association of China, highlighting the strong scientific innovation capacity of ICBC's custodian business.
Some insiders commented that the reason why ICBC's custodian service could win so many awards from home and abroad has everything to do with its strength and outstanding performance in the custodian field in China. The bank's scale of custodian assets has been No. 1 for 10 consecutive years.At the end of August 2007, it became the first bank in China that had custodian assets exceeding RMB 1 trillion.The bank is also in a market leading position in fund, pension fund, insurance and QDII businesses.In 2007, the bank provided custody for many market innovative products and officially provided custody for the national social security fund.The bank was the first custodian bank in China that introduced SAS70 annual auditing. It also strengthened its disaster response system for the custodian business and successfully organized the first disaster response emergency drill in the custodian industry in China.A new generation of custodian business processing system developed by the bank was put into use in 2007.The functions and flexibility of the system are in an industry-leading position in China.The "Integrated Custody Model of Securities Investment Fund" launched by the bank fits the development trend of the custodian business, propelling the management model reform and development in this business in China.
