ICBC ranked first for its comprehensive capacity among China’s commercial banks in the GYROSCOPE Evaluation System for Stable Development of Commercial Banks released by China Banking Association for the first time on June 28. Meanwhile, the Bank led the industry in indicators including corporate governance, yield sustainability, risk control, operation management, service quality, competitiveness, among others.

China Banking Association pointed out in the evaluation result that the year of 2014 witnessed an overall stable development of China’s large commercial banks, of which, ICBC, the largest one, has recently proposed a series of forward-looking deployment for strategic transformation, taken the lead in integrating the upgrading traditional industry and innovating growth of emerging business, as well as deepened transformation into less asset-intensive and less capital-intensive operations to further balance and coordinate profit growth and capital support. In terms of risk control, the Bank has established a credit risk monitoring center to enhance predictability of risk prevention and control as well as stability of asset quality. Amid the rise of emerging financial industry patterns represented by Internet-based finance, the Bank took the lead in large commercial banks in constructing an Internet-based financial service system, and officially established the Internet-based financial business department in the wake of the launch of the e-ICBC strategy, showing an open and ambitious operation strategy and quick response to the market.

The GYROSCOPE Evaluation System was designed by China Banking Association together with famous experts in and out of the banking industry. Compared with the current domestic and foreign commercial bank evaluation systems, the system takes full count of China’s economic and financial characteristics, and examines the commercial banks’ comprehensive capacity of stable development, which means the commercial banks should effectively control risks and realize sustainable development. Experts in and out of the industry make a comprehensive evaluation and ranking of the commercial banks for their capacity of stable development based on the GYROSCOPE Evaluation System, which consists of 32 indicators in nine dimensions, including corporate governance, yield sustainability, risk control, operational management, service quality, competitiveness, organizational intellectualization, personnel competence, and equity funding. A total of 61 banks, including 15 national commercial banks, were evaluated this time.