Industrial and Commercial Bank of China

It is also known as ICBC. It is the largest multinational banking entity in China. It is the largest company for assets in the world and especially offers banking and insurance services.

History

Before the 1980s, the People’s Bank of China (PBC) was in charge of all financial services. Therefore, four years later, the Industrial and Commercial Bank of China was established. This institution was created to carry out all the commercial and industrial savings businesses in the country. From that moment on, PBC only served as the Central Bank.

ICBC installed its branches nationally and also in several countries such as Luxembourg, France, Italy, Spain, the Netherlands, Belgium, Portugal, and Poland. In 2005, it started operating in Hong Kong as ICBC Asia. It acquired Fortis Bank the same year. Three years later, it established an office in the United States, specifically in New York.

The growth of the entity has been so high that by 2012, it had already expanded to Latin America. It bought a percentage of Standard Bank Argentina along with its branches. Today, it has worldwide participation offering a wide variety of services.

Routing Number

It is a 9-digit number that represents the bank during a local bank transfer from the United States. The route number of ICBC is 026010948.

Number of Employees

Currently, ICBC has approximately 453,048 employees.

Rating

The rating of a banking entity is carried out by Moody’s, S&P, and Fitch agencies to verify that debts are paid.

ICBC has a rating of:

  • S&P = AAA.
  • Moody’s = A2.
  • Fitch = A.

AAA (S&P Global) = It is a reliable and stable company.

A2 (Moody’s) = It has medium-high quality, low credit risk, but with elements that suggest a susceptibility to long-term deterioration.

A (Fitch) = It has excellent solvency capacity and low risk of default.

Headquarters

The headquarters are located in the city of Beijing, the People’s Republic of China.

Website

To access the ICBC website and get more information go to the link: http://icbc.com.cn/

The website in English is http://www.icbc.com.cn/ICBC/EN/default.htm

Services

  • Personal banking: It offers services to clients in general that include global markets, personal finance, electronic banking, bank cards, precious metals, and more. Also, it provides private banking for people and families who want to keep their assets safe.
  • Corporate banking: ICBC provides custody of assets, finances, corporate annuities, and corporate investments, institutional and electronic banking services to its corporate and institutional clients.

Contact

  • Address: No.55 FuXingMenNei Street, Xicheng District, Beijing, P.R.C.
  • Phone Number: 1-800-663-3051 (Customer Service).