Knowra Industrial and Commercial Bank of China Industrial and Commercial Bank of China Industrial and Commercial Bank of China (ICBC) is a Chinese state-controlled commercial bank headquartered in Beijing. It is the world’s largest bank by total assets.
Commercial bank : A financial institution that accepts deposits and provides loans and payment services. ICBC earns income through the deposit-taking and lending that define commercial banking.
Bank of China : A Chinese state-owned commercial bank specializing in domestic and international banking. It belonged to the state banking system from which ICBC’s specialized role emerged.
Chinese Communist Party : The ruling political party of the People’s Republic of China. Party institutions shape governance and senior appointments across major state-controlled enterprises.
Corporate banking : Banking services for businesses, including credit, cash management, and trade finance. ICBC finances companies and manages their payments and working capital.
Initial public offering of ICBC : ICBC’s 2006 public offering in Shanghai and Hong Kong, one of the largest IPOs at the time. The dual listing brought substantial capital while leaving the state in control.
Deposit account : An account at a financial institution used to hold money and make transactions. Deposits provide ICBC with a major source of funds for lending.
China Construction Bank : A Chinese state-owned commercial bank with a major role in infrastructure and construction finance. Its separation into a specialized bank parallels the institutional restructuring that preceded ICBC.
Ministry of Finance of the People's Republic of China : China’s central government ministry responsible for public finance and fiscal policy. The ministry is a major state shareholder in ICBC.
Retail banking : Banking services offered to individuals, including deposits, loans, and payments. ICBC serves households through accounts, cards, mortgages, and other consumer products.
State-owned enterprise : A company in which a government owns or controls a substantial stake. ICBC is a leading example of state ownership within a globally competitive commercial sector.
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