Industrial and Commercial Bank of China Limited (ICBC) is a leading financial player in China with an outstanding customer base and multi-dimension business structure.

On April 21, 2005, the Chinese government formally approved ICBC’s plan of shareholding structural reform and injected USD 15 billion. ICBC afterwards successfully completed the financial structuring and international audit.

On October 28, 2005, ICBC was officially transformed from a state-owned commercial bank into a share holding company and renamed as Industrial and Commercial Bank of China Limited. The new entity has a registered capital RMB 248 billion and 248 billion shares, with a face value of RMB 1 per share. The Ministry of Finance and Central SAFE Investments Limited are its two shareholders holding 124 billion shares respectively.

On January 27, 2006, ICBC entered into strategic investment and cooperation agreement with Goldman Sachs Group, Allianz Group and American Express Limited and acquired an investment of USD 3.782 billion.

On June 19, 2006, ICBC signed the strategic investment and cooperation agreement with the Governing Board of All-China Social Security Fund who would inject RMB 18.028 billion through buying in ICBC’s new shares.

On October 27, 2006, ICBC was listed on both Hong Kong and Shanghai markets. It raised USD 21.9 billion from equity market through IPO, became world largest IPO ever so far.

ICBC operates 18,764 domestics branches, 106 overseas branches and 1,165 agencies around the globe with total assets of RMB 6,454.1 billion at the end of 2005. The bank had issued 145.22 million bank cards with a total consumption amount of RMB 241 billion, and had owned a total number of 18,270 ATMs and 1,473 self-service bank offices by the end of 2005.

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