ICBC
As the world’s largest bank by assets, Industrial and Commercial Bank of China has proven time and again that it is more than capable of navigating any headwinds and challenges that come its way.
The past year was no different; ICBC’s overall franchise, including its corporate banking division, proved resilient and growing.
In 2021, despite a tough business environment, ICBC recorded a 7.6% year-on-year rise in operating income to Rmb860.9 billion ($123.7 billion), and a 10.2% jump in net profit to Rmb350.2 billion. Both its return on total average assets and its return on weighted average equity were higher than in the previous year, while its non-performing loan ratio dipped 0.16 percentage points to 1.42% in 2021.
Such strong numbers are perhaps to be expected from a bank this size. Even so, ICBC’s feat is impressive, thanks to a combination of senior management acting swiftly and efficiently to implement its strategy while remaining ahead of market volatility and rival banks.
This was evident in the performance of ICBC’s corporate banking business.
Total financing of ICBC’s corporate customers has surpassed Rmb13 trillion, with outstanding renminbi corporate loans – worth Rmb11 trillion – among the largest of the commercial banks worldwide.