On November 12th, 2007, the Business Re-launch Ceremony of PT. Bank ICBC Indonesia was held in Jakarta, Indonesia. It is another breakthrough of Industrial and Commercial Bank of China Limited (“ICBC”) on exploring overseas financial services, after the opening of ICBC Moscow earlier this month. It marked ICBC’s formal access into Indonesian market and the enhancement of a more sophisticated network of ICBC in Southeast Asia.
On September 28th, 2007, ICBC and the shareholders of PT. Bank Halim Indonesia (Bank Halim) completed the transfer of the acquired Bank Halim shares, after which ICBC held 90% of Bank Halim’s shares and the other 10% was provisionally held by original shareholders. At the same time , Bank Halim changed its name into PT. Bank ICBC Indonesia.
ICBC Indonesia is a commercial bank with foreign exchange business license. It currently has 12 outlets located in Jakarta, Surabaya, Bandung and other major cities in Indonesia.
As the largest commercial bank in China, ICBC provides various financial services to more than 2.5 million corporate customers and 150 million individual customers through its 17,000 domestic institutions. The bank takes leadership in almost all business lines in China, such as corporate banking, retail banking, RMB settlement, cash management, E-banking and asset custody. On October 27th, 2006, ICBC completed an unprecedented IPO in both Shanghai and Hong Kong, and now the bank’s market capitalization is more than RMB 2.5 trillion (USD 340 billion), ranking No. 1 among all listed financial institutions throughout the world. As of the end of September 2007, ICBC’s total asset reached RMB 8.5977 trillion (USD 1.1447 trillion) and maintained an excellent performance with net profit of RMB 64.1 billion (USD 8.6 billion), ROAA of 1.06% , ROAE of 17.13% and NPL Ratio of 3.06%.
According to the spokesman of the bank, in recent years, ICBC has been persistently taking initiatives in enforcing multinational operation strategies and expanding overseas network, in an effort to become a modern multinational commercial bank with considerable market influence. Currently ICBC has 110 overseas institutions in 13 countries and regions, and 1,322 correspondent banks all over 120 countries and regions. The bank’s network covers all major international financial centers and trade areas and is able to provide diversified, customized and efficient services through various .
The spokesman also said that ICBC Indonesia is committed to building a financial bridge to serve the ever-increasing economic cooperation between China and Indonesia. By fully leveraging its geographical advantages and ICBC’s capital strength, extensive network and advanced IT platform, ICBC Indonesia will provide quality and diversified financial services to corporate and individual customers in Indonesia and AFTA.