OREANDA-NEWS. February 05, 2014. In 2013, ICBC continued to optimize asset custody service structure by actively expanding service range, accelerating product innovation and improving overall service capabilities. Net assets under custody reached RMB 4.62 trillion as at the end of 2013, up by 16.84% over the previous year, leading domestic peers for the fifteenth year in a row.

In 2013, ICBC maintained steady growth in key custody businesses such as securities investment funds, corporate annuity funds and insurance assets, adding 75 securities investment funds, 9 insurance customers and 88 corporate annuity funds into its customer base in the year. On a global basis, ICBC added 107 QDII products under custody in 2013 . Eight overseas institutions appointed ICBC as the QFII custodian bank. Moreover, ICBC was appointed by 21 overseas institutions as RQFII custodian bank last year, delivering a significant breakthrough in RQFII custody service.

Despite negative factors such as volatility in domestic capital market last year, ICBC opened new scope for custody business by tapping into uncharted territories and developing new products. Firstly, ICBC continued to step up product innovation by launching bill custody service, and providing custody service for innovative fund products including the first batch of bond exchange-traded funds (ETF), first gold ETF, first cross-border ETF linked to US stocks, first dual-currency grade bond fund, first batch of products with floating management fee rates, first batch of leveraged ETF and first grade ETF. ICBC also provided custody for stock index futures. ICBC was also the first bank to launch custody service for bill investments and debt investments by fund managers. Secondly, besides capital market, ICBC has extended its custody service to real economy and public welfare, with products branded "Anxin Account" enriched for charity funds, government funds for public resources, existing house trading funds, housing maintenance fund, and pre-sale property funds.

In 2013, ICBC also made efforts in IT innovation, process re-engineering and service upgrade to support sustainable growth of asset custody business. ICBC developed key systems for asset service outsourcing, next-generation custodian internet Banking service platform and bill registration custody. Other enhancements included upgrade on custody account administration system (AAS), providing support to global development of custody business.

As a custodian bank, ICBC has been committed to deliver top quality custody services, winning industry-wide recognition. In 2013, ICBC received 7 awards such as "Best Sub-Custodian Bank in China" from Global Finance (US), "Domestic Top Rated Provider (China)" from Global Custodian (UK) and "Best Custodian Bank of China" from The Assets (Hong Kong).