CASH MANAGEMENT | Cesar Tordesillas, China

ICBC cash canagement customers exceed 600,000

ICBC secured more than 600,000 cash management customers by end of June,  an increase of nearly 20% over the end of previous year. This allows ICBC to hold on to the top spot in domestic ranking and reinforces its "No. 1 cash management bank" in China.

In response to the increasing demand of customers for global and regional cash management, ICBC being the first commercial bank in China to launch global cash management service, offers a basket of cross-border cash management services to multinational corporate clients worldwide through its independently developed global cash management service system and a global network of branches and correspondent banks.

Today, ICBC has built an extensive network of 16,000+ banking offices in China, 220 overseas subsidiaries and 1,516 corresponding banks in 134 countries. Besides, ICBC steps up its effort in forming partnership with other banks. Service scope is expanded via the cash management cooperation with 20+ overseas banks. This year, ICBC set up Asia Pacific Cash Management Center in Hong Kong in an effort to innovate the delivery of cash management service, especially moving the global cash management service to regional for faster response and collaboration. This new service architecture in Asia Pacific places ICBC's head office, regional center and overseas subsidiaries under one roof.

The ICBC executive also pointed out that more and more companies start to focus on the liquidity management and risk management worldwide, and exercise more control on the funds operation in a Group. This offers a good opportunity for ICBC to loom large its cash management business. In the next phase, ICBC remains customer-focused.

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