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AwardsBest Transaction Banks in China

Best transaction bank for domestic cash management 2018


As the largest Chinese commercial bank and leading cash management bank in Asia, ICBC has delivered a variety of high-level, value-added cash management services to corporate clients.

Leveraging on its global presence, advanced information technology systems and integrated solutions, ICBC also extends these advantages to its domestic clients.

ICBC’s cash management platform presents a full range of services, including customized account opening, global account management, centralized collection/payments and cross-border cash pooling, all of which are backed by a strong IT platform, an extensive branch network both inside and outside of China and a professional team of online and offline service assistants.

The platform helps corporates, governmental agencies and public institutions gain access to cash flow information, to manage receivables and payables, and allocate funds efficiently. In addition, the platform offers clients various investment opportunities that help them increase yields on their capital investments.

Services help customers to gain an accurate picture of the company’s cash position in China, as well as overseas, in a timely manner, giving them the ability to allocate domestic or overseas receivables or payables from one location and one pool of cash.

Executives at the bank’s settlement and cash management department say the bank set up a transaction banking centre 20 years ago, offering management services initially to just 6,000 enterprise clients. The centre operates a platform that helps clients with account and information services, trade finance and investment risk management, enabling them to manage liquidity, gain access to short-term financing, invest and manage financing across a domestic as well as global supply chain.

The bank developed its cash management offering in-house. It says it has the largest onshore cash management customer base – some 1.38 million. Furthermore, they say, the bank employs 17,000 people in its IT support department, the largest of any bank in China.

For its commitment to the development of a vast onshore cash management banking system, ICBC deserves to be named the best transaction bank for domestic cash management.

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