The Industrial and Commercial Bank of China (ICBC) is one of the largest and most influential financial institutions in the world. Founded in 1984, ICBC is headquartered in Beijing and operates globally with a strong presence in over 40 countries. The bank offers a wide array of financial products and services, including corporate banking, personal banking, investment banking, wealth management, and more. With its substantial assets and customer base, ICBC plays a critical role in the global financial landscape.
ICBC is often ranked as one of the top banks in the world by various financial publications, owing to its vast asset portfolio, which surpasses $5 trillion, making it one of the largest banks globally. The bank’s success is attributed to its strong leadership, innovative financial solutions, and extensive global network that caters to millions of individual and corporate customers.
CEO and Founder of ICBC
ICBC was founded in 1984 as part of China’s banking reforms to create modern financial institutions. While ICBC does not have a single "founder" in the traditional sense, it was established by the Chinese government to modernize the country's banking system. Over the years, ICBC has grown under various leaderships, contributing significantly to its global expansion.
As of 2024, the CEO of ICBC is Mr. Liao Lin, who took over the leadership role and is guiding the bank toward further internationalization and digitization. Liao Lin has extensive experience in the banking sector and is focused on strengthening ICBC’s position as a global financial leader. Under his leadership, ICBC continues to innovate, offering cutting-edge financial products and services to its vast customer base.
List of Top Companies Under ICBC
ICBC has developed a comprehensive financial ecosystem by acquiring and investing in various companies across different sectors. Below is a list of top subsidiaries and investments under ICBC, along with their approximate valuations:
| Company Name | Year Acquired/Founded | Valuation | Industry |
|---|---|---|---|
| ICBC Leasing | 2007 | $30 Billion | Financial Leasing |
| ICBC Standard Bank | 2015 (Acquired Stake) | $5.4 Billion | Investment Banking |
| ICBC Credit Suisse Asset Management | 2005 (Joint Venture) | $2.5 Billion | Asset Management |
| ICBC Argentina | 2012 (Acquired) | $1.4 Billion | Commercial Banking |
| ICBC Asia | 1999 (Acquired) | $8 Billion | Regional Banking |
| ICBC International | 1993 | $3 Billion | Investment Banking |
| ICBC Financial Leasing Co. Ltd. | 2007 | $10 Billion | Leasing and Financing |
| ICBC (Macau) Limited | 2002 (Acquired) | $2 Billion | Commercial Banking |
| ICBC Peru | 2014 (Acquired) | $1 Billion | Banking |
FAQs About ICBC
Q1: When was ICBC founded, and by whom?
A: ICBC was founded in 1984 by the Chinese government as part of the country's banking reforms aimed at modernizing China's financial sector.
Q2: Who is the current CEO of ICBC?
A: As of 2024, the CEO of ICBC is Mr. Liao Lin, who is focused on driving the bank’s international growth and digital transformation.
Q3: What are the core services offered by ICBC?
A: ICBC offers a wide range of services, including corporate banking, personal banking, investment banking, asset management, and leasing.
Q4: What is the global presence of ICBC?
A: ICBC operates in more than 40 countries worldwide, serving millions of customers with an extensive network of branches and subsidiaries.
Q5: How large is ICBC in terms of assets?
A: ICBC is one of the largest banks in the world, with assets exceeding $5.3 trillion as of 2024.
Q6: Does ICBC have any subsidiaries outside China?
A: Yes, ICBC has numerous subsidiaries and joint ventures in countries such as Argentina, Peru, Macau, and more, contributing to its global footprint.
