New Silk Road Finance Awards 2017: Best bank for advising Chinese institutions on BRI
Industrial and Commercial Bank of China
Industrial and Commercial Bank of China has become a big player thanks to its focus on domestic growth. It is the country’s largest financial institution, with Rmb24.9 trillion ($3.78 trillion) of assets at the end of March, according to EY. But as the bank sees its domestic client base moving offshore, it is making efforts to move alongside them.
Its acquisition of Standard Bank’s UK business in February 2015 gave it control of a large commodities-trading book and a team with a long pedigree in the African markets. The growth over the last few years of ICBC Asia, its international investment banking arm, has allowed it to bring more of its clients offshore.