Industrial and Commercial Bank of China (Macau) Limited
Industrial and Commercial Bank of China (Macau) Limited (“ICBC Macau”) is a group member of Industrial and Commercial Bank of China Limited (“ICBC”) with strong competitive edges in retail banking, e-banking, trade finance and technology platform.
ICBC Macau was formally established in July 2009, upon ICBC’s injection of all assets of its Macau branch into Seng Heng Bank of Macau (“SHB”), its subsidiary, and subsequent additional cash contribution.
Since its establishment in May 2003, the Macau branch of ICBC has achieved double-digit growth in the five consecutive years. It served Macau market with a compound annual growth rate of 82%, 101%, 99%,80% and 108% in total assets, deposits, loans,non-interest income and net book profits respectively. In terms of total assets, deposits and loans, the Macau branch ranked amongst the best in the industry and showed strong potential for sustainable growth.
SHB was incorporated in Macau in 1972. In August 2007, ICBC acquired a 79.9333% equity interest in SHB. Upon the completion of the acquisition in January 2008, SHB became a member of ICBC group. With a solid foundation, SHB ranked No. 3 among Macau banks in deposits and loans and ranked No. 4 in total assets at the end of 2008.
ICBC’s competitiveness in Macau is greatly enhanced with brand unification and strength consolidation of its Macau companies resulted from the establishment of ICBC Macau. After the integration, ICBC Macau consists 14 branches and 3 subsidiaries employing approximately 500 staffs in total.
Looking forward, ICBC Macau will leverage on ICBC’s strengths in its brandname, products, clients and networks and industry-leading technological advantages, and commit to providing comprehensive high quality financial services to its clients.