The Industrial and Commercial Bank of China will take advantage of the popularity of the Internet and mobile phones to expand its business.
In addition, the bank plans to move its branches to large and medium-sized cities and those areas with more potential depositors. Latest statistics show that the ICBC is now the largest commercial bank in China. By the end of 1999, the bank had deposits of 1,649.2 billion yuan, up 20 percent annually over the past five years. Its foreign currency deposit reached 10.2 billion US dollars, up 25 percent annually.
In recent years, ICBC has spared no efforts to extend its business range and focus its operations on retail businesses. Along with traditional deposit business, the bank provides some new services. By the end of 1999, the bank had installed 8,300 ATMs and 56,800 POSs across the country.
The Industrial and Commercial Bank of China will take advantage of the popularity of the Internet and mobile phones to expand its business. In addition, the bank plans to move its branches to large and medium-sized cities and those areas with more potential depositors.
