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ICBC's Deposits Break 3 Trillion Yuan Mark
The Industrial and Commercial Bank of China (ICBC) announced Tuesday that the outstanding amount of its deposits had reached 3.0227 trillion yuan by June 30, becoming China's first financial institution to breaks the record of three trillion yuan in deposits.
An ICBC spokesman said that in the first half of the year, the bank's deposits of various kinds increased by 197.5 billion yuan, of which saving deposits increased by 74.9 billion yuan, with the outstanding amount of saving deposits reaching 1.7163 trillion yuan.
He attributed the bank's constant increase in deposits mostly to new business development, the adoption of electronics equipment, and the development of intermediate banking businesses in recent years.
Meanwhile, the bank has also readjusted its credit structure to support the country's industrial and credit policies. By June 30, the outstanding amount of all loans by the ICBC had reached 2.47 trillion yuan.
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