Loans

Loans[edit]

Listed to industry[edit]

In millions of Chinese RMB (Yuan) in 2005:

• Manufacturing: 662,376, 20.1% (28.7% in 2004)
• Transportation, storage, postage & telecommunications: 367,371, 11.2% (10.2% in 2004)
• Power, gas and water: 281,179, 8.6% (7.0% in 2004)
• Retail and wholesale, catering: 265,906, 8.1% (6.9% in 2004)
• Property development: 194,024, 5.9%, (5.6% in 2004)
• Social service organization: 103,070, 3.1%, (3.2% in 2004)
• Construction: 89,666, 2.7%, (2.1% in 2004)
• Other industries: 313,804, 9.5%, (12.1% in 2004)
• Discounted bills: 392,717, 11.9%, (8.4% in 2004)
• Personal loans: 515,042, 15.7%, (13.1% in 2004)
• Overseas business: 104,398, 3.2%, (2.7% in 2004)

Total: 3,289,553

With collateralization[edit]

• Secured by mortgages: 34.1%
• Secured by other collateral: 22.1%
• Guaranteed loans: 23.3%
• Unsecured loans: 20.5%

Non-performing[edit]

At the end of 2004, 19.1% of ICBC's portfolio consisted of non-performing loans.^[53] To clean up ICBC's balance sheet and prepare it for overseas listing, the Chinese government orchestrated a series of capital injections, asset transfers, and government-subsidised bad loan disposals that eventually cost more than US$162 billion.^[54] This included an approval for a cash injection of US$15 billion (financed from China's massive foreign exchange reserves) on 28 April 2005.^[55] The Beijing-based state company, China Huarong Asset Management, helped ICBC dispose of its bad loans. As the 2005 annual report records, just under 5% of loans are classified as non-performing, in comparison with the majority of western banks who have lower NPL ratios (US commercial banks are typically around 1%).^[56]

Board of directors[edit]

The company has 449, 226 employees, there are 24 members of the board, with one chairmen, one supervisory board chairman and one vice-chairman. Chen Siqing, the current chairman, assumed his role^[57] after resigning in April 2019 from Bank of China, where he was the chair, executive director and chairman and participating board member within the Strategic Development Committee. Siqing had no disagreement with the Board at the time of his resignation, made purely for the reason of vocational change to ICBC.^[58] Yi Huiman, the previous chairman, finished with the company to fulfil the position of chairman at the China Securities Regulatory Commission.^[59]

As of 17 May 2020, the board is as stands:^[60]

• Chen Siqing (陈四清), chairman of ICBC, former Bank of China chairman^[2]
• Gu Shu, president of ICBC
• Lu Yongzhen, former director on the National Development and Reform Commission
• Zheng Fuqing, former Ministry of Finance of the People's Republic of China official
• Mei Yingchun, former Ministry of Finance of the People's Republic of China and World Bank official
• Feng Weidong, former secretary of the Ministry of Finance of the People's Republic of China
• Cao Liqun, former State Administration of Foreign Exchange official
• Anthony Francis Neoh, former Hong Kong SEC chairman
• Yang Siu Shun, former chairman of PricewaterhouseCoopers Hong Kong
• Shen Si, former executive director of Shanghai Pudong Development Bank
• Nout Wellink, former president and chairman of De Nederlandsche Bank
• Fred Zuliu Hu, former IMF and World Economic Forum official

Environmental policy and record[edit]

In 2008 ICBC was the first Chinese Bank to adopt the Equator Principles, an international set of social and environmental standards for financial institutions launched in 2003.^[61] It has also adopted the Green Credit Policy launched in 2007 by the Chinese Ministry of Environmental Protection.^[62] International environmental groups have criticized ICBC for failing to adhere to its social environmental standards and of being hypocritical, because ICBC is involved in the financing of the controversial Gilgel Gibe III Dam in Ethiopia.^[61]

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