OREANDA-NEWS.  April 19, 2013. The Global Finance (US) magazine recently announced the 2013 results of its annual ranking of the best banks in emerging markets. ICBC soared above the fierce competition and took the "Best Bank in China" Award for the ninth year winning.

The Global Finance's criteria for choosing the best emerging bank in the region included growth in assets, profitability, customer service, innovative products and strategic relationships. Each region and individual country presents unique challenges for banks and their customers, especially under the difficult conditions global financial markets continue to face. These are the banks that are providing best-in-class solutions for the distinctive market, said Joseph Giarraputo, publisher of Global Finance.

Since 2012, ICBC seeks transformation to sustain growth in the face of challenging financial and economic landscapes in China and overseas. The emphasis is capital constraint to change ICBC from a "large bank holding assets" to a "large bank managing assets", with stable profit growth, ROA and ROE at par with international peers. In the launch of innovative products, ICBC's product offering covers 500+ new products including multi-currency credit cards, services for personal customers to buy/sell FX via accounts. ICBC continues to be the bank in China with the widest range of financial products. Growth of emerging services remains impressive, significant income generated from M&A and high-end investment banking services. ICBC is the largest credit card issuer in Asia Pacific, and its credit cards topped Asia Pacific league table also by purchase volume. In terms of international settlement, ICBC is one of the leading banks in the world. Other business segments (settlement and cash management, asset custody, pension fund, private banking) also grow at a steady pace.