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ICBC's Assets Exceed 4 Trillion Yuan
The Industrial and Commercial Bank of China (ICBC) announced Thursday that its total assets had surpassed the four trillion yuan mark to reach 4.023 trillion yuan (US$484.7 billion).
A spokesman for the ICBC said that when the bank was founded in 1984, its total assets were worth only 200 billion yuan (US$24.10 billion). In 1991, the figure exceeded one trillion yuan, and in 1995 and 1998 it surpassed the marks of two trillion yuan and three trillion yuan, respectively.
According to the statistics, in the past 16 years the ICBC's total assets increased by nearly 19 times and the outstanding amount of deposits increased by 17 times, which made the bank China's largest commercial bank and pushed it into the top 10 world's largest banks.
At present ICBC's deposits and loans stand at 3.2 trillion yuan and 2.3 trillion yuan, respectively. A considerable part of its loans have been channeled to the State's key corporations and key projects, the spokesman said.
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