Industrial And Commercial Bank Of China Limited

Industrial and Commercial Bank of China Limited is a state-controlled banking institution to develop the economic and non-economic infrastructure in China. It is listed with the Shanghai Stock Exchange. Furthermore, it has got overseas branches in Kuwait, Japan and Luxembourg. It has more than 16000 branches and gives services like Investment Management, Global Wealth Management, Loans, Mortgage, Global wealth management, Line of Credit, Private Equity, Investment banking, Export Finances, Project Finance, Current Accounts, Savings Accounts, Personal Banking, Credit Card, and the Online Banking.

Factsheet of Industrial And Commercial Bank Of China Limited

Bank Name	Industrial And Commercial Bank Of China Limited
Founded in	Jan. 1, 1984
Promoters/founders	Ministry of Finance China
Headquarter Address	Unit 801,8th Floor,A Wing,One Bkc, Plot No C 66,G Block, Bandra Kurla Complex, Bandra (E),Mumbai 400051
Employee's	434798
Type of Bank	Public Sector Undertaking (PSU) Bank
Official Website	http://www.icbc-ltd.com/icbcltd/en/
Customer Care Number	22-33155900

History of Industrial And Commercial Bank of China Limited

Industrial And Commercial Bank of China Limited (ICBC) was launched on January 1, 1984 is the state owned commercial bank with the financial assistance received by the Ministry of China. Headquartered in Beijing in China, the ICBC the level one capital was very high compared to other global competitors. We are one of the largest bank in China operating in various parts and have branches in USA, Spain, Kuwait, UAE, Pakistan, Holland, Italy and Japan.

We have around 3 million customers across the globe and in China we have more than 150 million plus customers playing a major role in our development. As per the data released by the Financial Safety Board, an international agency that regulates and advises on the current monetary systems ICBC is the most organised banks. According to the English Magazine, The Banker, a British Magazine the ICBC is the first banking corporation placed in its list and US magazine says ICBC is one of the best place to work in the world.

ICBC always encourages the employees to grow and this can be observed as many highest officials of the bank has joined the Chinese Government in higher positions.

Subsidiaries of Industrial And Commercial Bank of China Limited

The Industrial And Commercial Bank of China Limited (ICBC) consists of various subsidiary companies and some of them are given below as follows:

ICBC Holdings Limited.
ICBC Financial Leasing Companies.
Industrial and Commercial Bank of Macau (China)
Industrial and Commercial Bank of China (Zurich)
Industrial and Commercial Bank of China (Canada)
Industrial and Commercial Bank of China (Mexico)
Industrial and Commercial Bank of China (Argentina)
Industrial and Commercial Bank of China USA and North America

Banking Services offered by Industrial And Commercial Bank of China Limited

There are various banking services by the Industrial And Commercial Bank of China Limited (ICBC) consists of various services given below as follows

SMS Alerts.
Net Banking.
Email Alerts.
E- Statements.
Mobile Banking.
Mobile Banking.
Rate of Exchange.
Foreign Exchange.
Personal Account.
Corporate Account.
Asset Management.
Deposit Guarantees.
Wealth Management.
Commodity Finance.
Transaction Banking.
Safe Deposit Locker.
Card Blocking Service.
E-Commerce Facility.
Debt Capital Markets.
Senior Citizen Account.
Debit and Credit Cards.
Personalised Cheque Facility.
Personalised Bank Passbook.

Loans and credit facilities provided by Industrial And Commercial Bank of China Limited

There are various credit and loan facilities available as given by the Industrial And Commercial Bank of China Limited (ICBC) and they are as follows:

Term Loan.
Home Loan.
Vehicle Loan.
Secured Loan.
Property Loan.
Personal Loan.
Business Loan.
Mortgage Loan.
Consumer Loan.
Unsecured Loan.
Collateral Loans.
GST Business Loan.
Credit Limit Increase Services.
Loan for Importers and Exporters.

Legal Issues

In February 2016, Spanish Guardia Civil arrested 6 executives of the Madrid bank and framed charges of Money Laundering.
In 2005, the Chinese government arrested several government officials about the a scheme to take illegally US$900 million from ICBC.
In 2018, the US Federal Reserve had found "Serious Lapses" on the part of ICBC regarding the status of Money Laundering allegations.
On August 12, 2021 a former banker at ICBC, Mr. Gu Guoming was given life sentence in Jail by Chinese Judiciary after being found guilty of massive robbery.

Awards and Recognition

Industrial And Commercial Bank of China Limited (ICBC) is the worlds largest public company as per the Forbes Global 2000.

Industrial And Commercial Bank Of China Limited has 1 IFSC connected branches in India. Bank has branches in following states: