As one of the first commercial banks to launch cash management business, ICBC started its cash management services in 1998. After ten years' development, ICBC, relying on its highly developed network, strong technological strength and sound service system, holds a firm lead in domestic cash management market, and has also become the best choice among domestic banks for the global giants to establish business cooperation.
"Caizhi Account" as the brand of ICBC's cash management service, represents the excellent ability of ICBC to offer professional services. Backed up by its fund settlement and product development platforms, ICBC takes careful consideration of the diversified customer demands for cash management, and provides comprehensive cash management solutions covering interior cash management, exterior cash flow control, RMB cash management and foreign currencies cash management; helping our clients including enterprise groups, government agencies and institutions to manage accounts receivable, accounts payable, collection and distribution of interior cash flow, to gain cash flow information promptly and accurately, to increase the rate of return on capital investment, providing diversified investment opportunities and achieving win-win with our clients.
As the largest commercial bank in China, ICBC not only enjoys strong capital strength and a renowned reputation, but also many advantages in cash management:
Firstly, an extensive business network. By the end of 2008, ICBC's domestic branch offices had reached more than 1,6400. It has also established 134 branch institutions in 15 foreign countries and set up agent bank relations with 1358 banks in 122 countries and regions; by then its overseas network had roughly formed a scale.
Secondly, an advanced technological platform. ICBC, with its computerized business management network being the most advanced in the Chinese financial circle, has achieved unified and prompt handling of management data from across China, its technology reaching the internationally top level.
Thirdly, an efficient settlement system. ICBC owns an RMB remittance settlement system covering the entire China and a foreign exchange remittance system connecting China with the whole world, thus can guarantee that RMB and foreign exchange remittances are credited into account real time.
Fourthly, flexible access channels. Through Internet banking, telephone banking, mobile banking and other self-service banking facilities, ICBC offers diversified access channels for clients; thus ICBC can guarantee 7X24 nonstop services and serve its clients at any time, any place, allowing the clients to enjoy highly automatic cash management services.
ICBC's cash management service has kept far ahead of domestic peers, taking the largest share in the Chinese market of cash management. In recent years, ICBC has won "Best RMB Cash Management Bank" and "Best Cash Management Bank" awarded by worldly renowned financial magazines such as The Asset, Finance Asia and Asia Money, proving that ICBC's cash management business has won wide recognition by international peers and clients.
As the most profitable bank with the highest market value in the world banking industry, ICBC sets its goal as building up an internationally top-class modern financial enterprise, providing sincere and professional services to facilitate clients' assets management and fortune making.