Recently, Fortune magazine of America announced the list of 2008 Fortune Global 500. Measured by the gross revenue in 2007, ICBC was ranked 133rd globally with USD 51.526 billion, moving up 37 from 2007. Meanwhile, on the list of 2008 global 1000 largest banks as measured by Tier I capital announced by The Banker magazine of UK, ICBC was ranked 8th globally with USD 66.271 billion of Tier I capital, top all domestic Chinese banks.
As the business keeps steady growth, ICBC won not only the title of most profitable bank in Asia for another year with an annual net profit of over USD 10.6 billion, but also recognition from the international media with its progresses in business management and financial service. Recently, FinanceAsia announced its 2008 awards for the banking industry and ICBC received the awards of the "Best Bank in China" and the "Best Cash Management Bank in China" for a second year from this magazine.
Earlier, three authoritative magazines in the international finance industry, Euro Money, Global Finance and The Asian Banker, all granted the title of the "Best Bank in China" to ICBC.
In addition, ICBC's strong momentum in business innovation since 2007 has won international acclaims in the industry. In the corporate business area, Global Finance magazine of America granted ICBC the title of the "Best Corporate Loan Bank in China". In the personal finance area, The Asian Banker granted ICBC the award of the "Best Retail Bank in China".
In the cash management area, ICBC received the title of the "Best Cash Management in China" from both The Asset Magazine and FinanceAsia. In the strategic investment area, The Banker granted ICBC the awards of the "Best Trading in China" and the "Best Trading in South Africa". In the information technology area, ICBC received the "Best Business Continuity Management Award" from The Banker.
In the asset custody area, ICBC received the title of the "Best Sub-custodian Banks in China" from Global Finance, The Asset and Global Custodian. In addition, Euro Money also granted ICBC the awards of the "Best Fixed-Income Investment Portfolio Management in China" and the "Best Custodian Service in China".
Insiders pointed out that getting all these heavy awards with long standing reputation in the global or Asian banking industry well demonstrated ICBC's increased business capacity and core competitiveness and it also demonstrated that ICBC had won international recognition for its good performance, management, prospect, and its achievements in reform and development since it went public. These honors not only effectively elevated ICBC's international market image and name recognition, but also will bring positive impact for ICBC to fully engage in the competition in the global capital market with a good image.
