China Finance Online announced the winners of "Choose My Favorite" Best Credit Card for the Year 2009 on April 8. ICBC was named "Most Admired Card Issuing Bank" for the bank's expertise in credit card business and brand influence. Meanwhile, ICBC garnered three accolades for Peony CNPC Credit Card "Best Credit Card in Function Innovation", Air China PhoenixMiles Peony Credit Card "Best Co-branded Credit Card for Reservation" and Peony Platinum Credit Card "Best High-end Classic Credit Card". President of Peony Card Center Luan Jiansheng was named "Credit Card Banker of the Year".
China Finance Online leverages its own rich resources to run the 3-month "Choose My Favorite" Best Credit Card for the Year 2009. The survey won the support from all the financial institutions and bank card associations, concern and participation from the cardholders. Winners went through first round of screening, online voting by cardholders and the final judging by the panel of experts. ICBC edged out ahead of all the peers and garnered the most number of awards by winning 5 out of the total 12.
In 2009, ICBC credit card was a strong brand as a result of the improved services. ICBC issued 52 million credit cards, the total volume of transactions conducted using ICBC cards exceeded RMB 440 billion, overdraft up to RMB 37.1 billion, all representing a jump of over 30%. ICBC retains its dominance as the largest card issuer in the country and overtakes three credit card giants US Discovery Card, American Express and Capital One in a year. ICBC is now trailing JP Morgan Chase & Co, Bank of America Corp. and Citigroup Inc. in credit card issuance.
