Awards for Excellence 2015: Best emerging markets bank
ICBC’s sheer scale in its domestic markets makes it a competitor to fear. But the Chinese bank’s management, strategy and intelligent approach to overseas expansion mark it out as a global bank of the future.
Best emerging markets bank:
A flurry of under-appreciated financial reforms in China has forced large banks to shift their business models in a fight for profitability and to ensure the future of the universal-banking franchises amid disruption threats.
Financial disintermediation, stronger bank and non-bank competition, rising NPLs and partial interest-rate liberalization are challenging traditional business models. What’s more, banks have less pricing flexibility over loans and deposits with a greater role for market forces.
Over the last few years, ICBC has earned the unique distinction of being the brokers’ consensus banking pick in China, thanks to its efforts to diversify fee income by developing asset management, investment banking and consumer finance.