OREANDA-NEWS. December 23, 2013. The Banker (UK) named ICBC the "2013 Bank of the Year in China" as recognition of its outstanding performance, solid growth and consistent innovation. This is the ninth time ICBC has received this award.

ICBC stood out in this year’s awards primarily due to its remarkable performance amid challenging domestic and international economic situation, said industry insiders. The Banker said in the comment that ICBC ranks highly by almost any measure – whether by the amount of deposits, loans, total assets, Tier 1 capital, market capitalisation or profits – not just in China but also at a global level.

The judging panel was also impressed by ICBC's achievement in globalization and diversification. In the comment on ICBC, The Banker pointed out: "ICBC has been expanding its global presence and increasing the network it has developed to support China’s international trade. ICBC currently has operations in 39 countries and regions and in recent years has been involved in a number of acquisitions. In 2012, the Bank acquired majority shareholdings in the Bank of East Asia (USA) and Standard Bank Argentina. In April 2013, it announced plans to buy a 20% stake in Taiwan’s Bank SinoPac".

As one of the world's most influential financial media, The Banker’s "Bank of the Year Awards" and "Top 1000 World Banks ranking" are regarded as key benchmarks in the banking sector to evaluate the overall capabilities of banks around the world.