ICBC Move Center Stage in Times Square

Business & Finance

AsiaNet  51195

BEIJING, China, Oct. 29 /Xinhua-AsiaNet–

The Industrial and Commercial Bank of China (ICBC) recently debuted a video commercial of its corporate image on the big screen at Times Square, drawing the attention of the world.

The 15-second long clip presented ICBC’s logo and introduced its website information in both Chinese and English, which is seen as a significant step by the ICBC to further expand its overseas markets and widen its international influence.

The ICBC is first among China’s listed banks in terms of global market value, client deposits, and profits earned. In the 2012 Fortune Global 500, the ICBC climbed 23 spots from last year’s ranking to reach 54th place.

Since the beginning of the year, the ICBC has continued the momentum of the expansion of its overseas business, with the growth of assets and profits from its overseas institutions surpassing those in China.

At present, the ICBC has established 252 overseas institutions in 34 countries and regions. On July 6, 2012 in Beijing, the ICBC closed the deal of acquiring an 80-percent stake in the Bank of East Asia (USA), the first time a Chinese lender has taken a controlling interest in a US bank.

Moreover, the ICBC’s emerging businesses such as bank cards and e-banking have been growing rapidly. As of the end of June, 2012, the ICBC has issued debit cards in 18 countries and regions and credit cards in 11 countries and regions. In addition, the ICBC provides e-banking service in 24 countries and regions and phone banking service in 11 countries and regions.

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Source: Overseas Info Service, Xinhua News Agency