The Industrial and Commercial Bank of China (ICBC) sold 154.4 billion yuan
(US$21.3 billion) of personal financing products in 2007, up 126.49 percent year
on year.
ICBC introduced 35 personal financing products in yuan and 24 products in
foreign currencies last year, said company sources here on Friday without
elaborating.
The sales volume made ICBC the first bank in China to surpass the 100 billion
yuan mark in personal financing products, the sources said.
In 2007, China's commercial banks starting giving greater attention to
private banking instead of corporate business.
The revenue structure of banks became more optimistic towards investment
return and intermediary business income, accounting for a larger part in total
income.
In 2006, ICBC had net assets of 530.8 billion yuan, with a capital adequacy
ratio of 14.05 percent.
Media reports said last year that ICBC -- which is listed in both Hong Kong
and Shanghai -- ranked first among world banks with total market capitalization
of US$337.2 billion.
