Home >News Updates >ICBC News
ICBC Awarded “Best Bank in China” for the Tenth Time

Recently, Euromoney, a UK-based magazine, announced world’s best banks in its 2018 Awards for Excellence. By virtue of its earning result, efforts made to serve the real economy and pursuit of internationalization, ICBC is awarded “Best Bank in China” for the tenth time.

According to Euromoney, with clear-cut strategies and outstanding performance, ICBC stands out from multiple candidates in the face of a complicated and fast-changing external business environment. In terms of earning result, the annual net profit of ICBC in 2017 reached RMB287.5 billion, 3% increase over last year. The net profit in the first quarter of 2018 witnessed a 4% year-on-year increase. Besides, assets quality remained stable, with NPL ratio decreasing to 1.54% at the end of the first quarter.

Euromoney also said that ICBC has become a representative of the Chinese banking industry, featuring steady profit growth and deposit base, and effective cost management and risk control, which are attributable to the ICBC’s strong support for the real economy and its precise positioning in the process of transformation and upgrading. Last year, ICBC made strenuous efforts in developing inclusive finance, with lending to small- and micro-sized enterprises increasing by 9% and lending to industries with excess capacity witnessing a steady decrease. While ensuring a stable development in the domestic market, ICBC also issued the first Belt and Road green bond in the international market, thus enhancing its financial support for the Belt and Road Initiative.

Euromoney is affiliated to the Daily Mail and General Trust. Being one of the most influential financial media globally, the magazine has conducted the selection for the best banks for more than two decades, starting from 1992. Each year, the best banks from the world, emerging markets, each continent and each country will be selected.