ICBC named Best Bank in China

by Richard Kilner

Story link: ICBC named Best Bank in China

The Industrial and Commercial Bank of China (ICBC) has been named the Best Bank in China, according to Global Finance magazine.

The ICBC, which wins the accolade for the seventh time, was awarded the title of Best Bank in China due to its robust financial performance, strong development and achievements in integrating its services and enhancing its international offering.

The bank is now the largest in the world according to customer base, market capitalisation and profitability.

The ICBC is now expanding its branch network across the globe, and its Global Finance award has been complemented by being given the Best Internet Banking in China Award by Asian Banker magazine.

Earlier this month the bank announced its post-tax profits had increased 16.3% in 2009, to stand at RMB129.4bn.