ICBC to Upgrade Credit Appraisal MechanismThe Industrial and Commercial Bank of China (ICBC) announced Friday that in the next five years it will build a highly efficient credit evaluation mechanism in a bid to comprehensively improve its asset quality.ICBC Vice Director Tian Ruizhang said the bank will intensify its reforms on credit evaluation and always make quality and efficiency the focus of the credit evaluation mechanism. He said the bank will also construct a scientific and technological support system for credit risk evaluation and improve personnel training. Over the past five years, with the improvement in credit evaluation mechanism and credit evaluation team, the ICBC's credit evaluation work has played an effective role in controlling risks. Statistics show that since 1999, the credit appraisal department of the ICBC evaluated a total of 4,955 loan applications, with an aggregate loan of 401.7 billion yuan. The headquarters of the bank evaluated 233 large projects and rejected 12 of them. The spokesman said that, while upgrading the credit evaluation mechanism, the ICBC will pay attention to business innovation and the development of intermediate businesses, and make efforts in establishing a credit investigation system. In addition, the bank will also draw on its advantages in business networks, resources, personnel and technology to carry out project financing, financial consultation, credit ratings, information consulting and other businesses. |
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