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ICBC Ranks First for Steady Development Capacity among Chinese Commercial Banks

On December 18, China Banking Association released the results of the GYROSCOPE Evaluation System for the year 2017 in Beijing. ICBC ranked first for comprehensive strength among Chinese commercial banks by virtue of its steady development. Meanwhile, ICBC's corporate governance, yield sustainability, service quality, competitiveness, organizational intellectualization, equity funding and other indicators were all among the highest in the industry.

The evaluation results indicate that with the rapid development of Fintech, intelligence has become the focus of banks' transformation. More and more banks embark on light and intelligent transformation by applying information technology and other technological means to improve financial services, hence supporting institutional decision-making and management. Judging from the evaluation results, ICBC has the most obvious advantages in organizational intellectualization, ranking first among Chinese commercial banks. In recent years, on the basis of consolidating the achievements of internet finance, ICBC has accelerated its upgrading from internet finance e-ICBC 2.0 to e-ICBC 3.0 Smart Bank strategy. In terms of business philosophy, ICBC has accelerated the intelligent transformation of traditional financial services, built an open, cooperative and win-win financial service ecosystem, set up intelligent marketing, products, services and risk management systems, and remolded banks as the information and credit intermediary center. As for the development mode, ICBC has striven to build a new integrated online-offline customer relation management system for winning, activating and retaining customers, and committed to building a "Smart Bank" model which encourages innovation and provides services and applications for all.

It is learnt that the GYROSCOPE Evaluation System, an evaluation system containing indicators for steady development capacity based on the status quo of China's banking industry, was first launched by China Banking Association in 2015. This year, a total of 118 banks participated in the appraisal, covering all commercial banks in China. The evaluation system examines the steady development capacity of commercial banks from nine dimensions: corporate governance, yield sustainability, risk control, operational management, service quality, competitiveness, organizational intellectualization, personnel competence and equity funding. And the initial letters of these nine dimensions compose the name of the evaluation system – GYROSCOPE.