Industrial and Commercial Bank of China
About Industrial and Commercial Bank of China
The largest bank in the world by total assets, with over 6 trillion. ICBC was established in 1984 when the Peoples Bank of China separated its commercial banking functions. ICBCs IPO in 2006 raised 21.9 billion, the largest IPO in history at the time, simultaneously in Hong Kong and Shanghai. The bank has over 500 million individual customers and 5 million corporate clients. ICBC operates in over 40 countries. The bank has been described as too big to fail and too big to manage. Chinese banks collectively hold over 40 trillion in assets, making Chinas banking system the largest in the world.
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