It was reported that recently Emerging Markets announced the results of "2008 Banking Achievement Review" and Industrial and Commercial Bank of China Limited (ICBC) won the title of "Banking Achievement 2008, Asia" for the first time.
As one of the media under the Euromoney Institutional Investor Group, Emerging Markets is committed to report the economic development of economies of emerging markets and conduct survey and selection activities in regional bank industry every year.
According to insiders, during the first whole fiscal year after IPO, the operating performance of ICBC was greatly enhanced, the asset scale was further expanded, the operating incomes and profits after tax were rapidly increased, the return on total assets and rate of return on common stockholders' equity were obviously lifted, while the balance and rate of non-performing loan were continually dropped and the cost/income ratio was maintained in a reasonable level.
During the year, every banking business showed a sound development trend; indexes like balances of deposit and loan, card issuance and consumption of bankcards, amount and sales of consigned funds as well as number of E-banking clients led the way in the industry; and the market position further consolidated. With strikingly effect in operation reform, the structures of deposit, credit, investment and incomes were continually optimized, and the abilities of profit and sustainable growth were constantly enhanced. In addition, ICBC speeded up its globalization, successfully purchased 20% of the equities of biggest bank in Africa- South African Standard Bank and major equities of the biggest local commercial bank in Macao- Seng Heng Bank. Meanwhile, the subsidiaries of Moscow and Indonesia as well as Sydney Branch opened in succession recently. New York, Dubai and Doha Branches will open soon and the global operating network has realized the new breakthrough. This important award "Banking Achievement 2008, Asia" further showed that the outstanding operating performance of ICBC obtained the high recognition of international media.
