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 scooped the Best Bank in China award by FinanceAsia.

It is the fifth occasion the ICBC has been named China’s best bank by FinanceAsia, one of the most respected finance media in Asia.

A number of factors are necessary to win the prize, including strong profit growth, a powerful position in the market and excellent crisis response measures.

The ICBC has bucked the international trend by managing to achieve robust profit growth despite the economic difficulties on both the domestic and world stages and simultaneously improving internal management.

In recent months it has been acknowledged as the most profitable bank in the world, and in addition to this, has the largest deposit base of any bank in the world.