It’s not the first time Industrial and Commercial Bank of China has won FinanceAsia’s award for Best Bank in China. This year, the bank has not only developed in the domestic market but has also managed to diversify and internationalise its business.
ICBC changed its strategy a few years ago to focus on financial services that need intensive professional knowledge and technologies such as private banking and commission-based advisory services and those that provide more value for customers. These have become new drivers in the bank’s profit growth.
For example, income from...