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ICBC reports deposits hitting 5 trillion yuan mark
(Xinhua)
Updated: 2005-01-17 16:14
The Industrial and Commercial Bank of China (ICBC), the country's biggest
bank, reported Monday its outstanding deposits had reached 5.07 trillion yuan
(US$613.4 billion).
The bank's deposits took the lead among its peers to hit the 5 trillion yuan
(US$604 billion) mark at January 13.
Savings deposits, usually stable in sources and less pervious to external
climate, hit 2.83 trillion yuan (US$342 billion), making up 56 percent of the
bank's total. High-end clients, whose savings stood at 50,000 yuan (US$6,040) or
above, reached 12 million in number, accounting for 12 percent of the total, the
bank said in a report.
Robust deposits came on the back of the bank's innovation efforts and
improved financial service, as well as China's rapid economic growth and a
steady rise in the people's income, it noted.
ICBC witnessed an almost thirty fold increase in its outstanding deposits
from 1984 -- when it was inaugurated -- to 2004.
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