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Industrial and Commercial Bank of China was established on January 1, 1984. On October 28, 2005, it was restructured into a joint stock limited company. On October 27, 2006, it was successfully listed on the Shanghai Stock Exchange and the stock exchange of Hong Kong on the same day. After continuous efforts and steady development, it has become one of the world's leading banks, with high-quality customer base, diversified business structure, strong innovation ability and market competitiveness. Take service as the foundation of the bank, insist on creating value by service, and provide comprehensive financial products and services to 8.1 million corporate customers and more than 650 million individual customers around the world. Consciously integrating social responsibility into development strategy and management activities, it has been widely praised in developing Inclusive Finance, supporting targeted poverty alleviation, protecting environmental resources, and supporting public welfare undertakings. Always focus on the main business, insist on serving the origin of the real economy, co-exist with the real economy, share the wind and rain, and grow together; always adhere to the risk-based, firmly hold the bottom line, and constantly improve the ability to control and resolve risks; always adhere to the grasp and follow the business rules of commercial banks, and strive to build a "century old shop"; always adhere to the principle of seeking progress in stability, innovation and sustainable development Deepen the strategy, actively embrace the Internet; always adhere to the professional focus, develop a professional business model, forge the "great craftsman". For seven years in a row, it has been ranked first in the banker's top 1000 global banks, Forbes's top 2000 global enterprises and fortune's top 500 commercial banks. For four years in a row, it has been ranked first in brand finance's top 500 global banks.
Business Overview
By the end of 2019, the total assets were 30109.436 billion yuan, an increase of 2409.896 billion yuan or 8.7% over the end of the previous year. Total liabilities reached 27417433 million yuan, an increase of 206.2776 billion yuan or 8.1% over the end of the previous year. The annual net profit was 313.361 billion yuan, an increase of 14.638 billion yuan or 4.9% over the previous year. The average return on total assets is 1.08%, the weighted average return on equity is 13.05%, the core tier 1 capital adequacy ratio is 13.20%, the tier 1 capital adequacy ratio is 14.27%, and the capital adequacy ratio is 16.77%. The operating income was 776.002 billion yuan, an increase of 7.0%, of which the net interest income was 606.926 billion yuan, an increase of 6.0%, and the cost income ratio was 25.79%.
Corporate finance
By the end of 2019, the company had 8.098 million customers, an increase of 1.065 million compared with the end of the previous year.
1. The company's deposit and loan business. By the end of 2019, corporate loans will be 9955.821 billion yuan, an increase of 536.927 billion yuan, an increase of 5.7%; corporate deposits will be 12028.262 billion yuan, an increase of 547.121 billion yuan, an increase of 4.8%.
2. Inclusive financial business. By the end of 2019, the loan balance of inclusive small and micro enterprises was 471.521 billion yuan, an increase of 161.407 billion yuan or 52.0% over the beginning of the year. 423000 customers, an increase of 153000. The average interest rate of accumulated loans in that year was 4.52%, 0.43 percentage point lower than that of the previous year. Relying on financial technology to speed up the iterative renewal of products, we will build a comprehensive inclusive financial service system around ICBC's small and micro financial service platform and three categories of products, namely, operating fast loan, online loan link and online supply chain financing. By the end of 2019, the bank has 288 small and micro financial business centers.
3. Institutional financial business. Comprehensively boost the electronic reform process of fiscal revenue and expenditure accounts at all levels, innovate and promote the "smart government" service system, and promote the implementation of the multi engine business cooperation framework of "one government service portal + 12 key extension areas + 22 value-added services". Comprehensively promote inter-bank cooperation, sign new comprehensive strategic cooperation agreements with head office level key customers such as China Development Bank and Shanghai and Shenzhen stock exchanges, and sign memorandum of cooperation between bank and securities of science and technology innovation board with head brokers, so as to jointly boost the development of real economy and capital market. The bill brokerage business was carried out on a pilot basis, and the first bill brokerage business in the market was successfully handled under the discount mechanism.
4. Settlement and cash management business. Promote the construction of six product lines of account management, liquidity management, trade financing, risk management, investment and financial management, and collection and payment management, and provide comprehensive service programs centered on customers. Strengthen the application and promotion of advantage platform, and continue to consolidate the leading advantage in the field of public payment. Promote the global cash management platform and build a global cash management business system. Promote the financial service platform of "ICBC gathering" and connect with the financial needs of enterprises to realize the effective customer acquisition mode of "transaction + finance". By the end of 2019, there were 9.443 million corporate settlement accounts, an increase of 13.5% over the end of the previous year, and the annual corporate RMB settlement business volume was 2.399 trillion yuan. There were 1.426 million cash management customers and 7973 global cash management customers, an increase of 9.5%.
5. International settlement and trade financing business. Comprehensively improve the level of cross-border trade financial services, actively cooperate with the General Administration of Customs to fully participate in the construction of financial service function projects of "single window" platform for international trade, and provide one-stop cross-border settlement, financing and other financial services for domestic import and export enterprises. We will strengthen the innovation of trade and financial products, strengthen the special management of Forfaiting Business, and promote inter-bank cooperation. Vigorously promote the non financing guarantee business and help the bank's external guarantee business develop healthily and rapidly. In 2019, a total of 50.895 billion US dollars of domestic international trade financing will be issued. The international settlement volume was 2988.556 billion US dollars, including 1205.334 billion US dollars handled by overseas institutions.
6. Investment banking. One belt, one road, one more way, and other new areas of financing, including the new industry, the industrial mergers and acquisitions, the reform of state-owned enterprises and the "one belt and one road". The new mode of investment and loan linkage should be explored actively. The new energy (technology innovation) fund of ICBC and the new energy (debt to equity) fund of the new industrial bank will be set up in batches, and the support for the newly emerging industries and the private economy will be strengthened to boost the development of the science and technology enterprises. We will further upgrade financial advisory services such as Rongzhi e-trust, Rongan e-trust and Rongyu e-trust. In 2019, 1802 domestic bond projects were mainly underwritten, with a total scale of 1517.350 billion yuan, ranking first in the domestic market.
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