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ICBC Leads the Top 1000 World Banks for the Sixth Consecutive Year

On July 2 (local time, London), The Banker magazine announced the Top 1000 World Banks 2018 ranking. ICBC ranked first for the sixth consecutive year with tier-1 capital of USD324.1 billion.

The ranking also showed, ICBC, ABC, BOC and CCB were all ranked among the top four. It is the first time that China’s big four state-owned commercial banks have been ranked among the world’s top four, which fully demonstrates the development trend of the Chinese banking industry whose capital strength and growth momentum have consistently improved. JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were ranked 5th-8th, followed by Mitsubishi UFJ Financial Group (9th) and HSBC Holdings (10th).

Commercial banks’ tier-1 capital is seen as a crucial indicator for gauging the comprehensive business development capability and risk tolerance of banks, and an important guarantee for banks to realize sustainable development. The Banker’s rankings have shown some changes over the years. In 2004, no Chinese bank was found in the top ten; it was in 2007 that the Chinese banking industry made its way into the top ten for the first time. The healthy development of the Chinese economy and the continuously deepening financial reform of the country in the last ten years have paved the way for its banking industry to stride onto the global stage.

According to an ICBC official, as a state-owned and major listed bank, ICBC has consistently committed itself to creating value for the real economy, the society, its shareholders and employees. In recent years, in face of impacts generated from deepening interest rate liberalization, occurrence of multiple risks, faster financial disintermediation, and fiercer horizontal and cross-sector competition, the Bank has fulfilled stable and healthy development by doing well in serving the real economy, preventing and controlling financial risks, and deepening reforms and innovation. By the end of 1Q2018, the Bank saw its net profit rise by 4% over the same period of last year, NPL ratio decrease by 0.01% from the end of 2017, and coverage ratio increase by 20.44%, further boosting its capability for sustainable and healthy development.