OREANDA-NEWS. August 06, 2013. In recent years, ICBC has been actively promoting global cash management business to address the need of "go global" customers and multinational corporations in managing cash on a global scale. The bank is now well-positioned to serve the customers.

By the end of the first half of this year, ICBC had over 3,600 global cash management customers who have opened more than 9,300 accounts in total, out of which 277 are new customers opening 753 accounts during this period, ranking No. 1 among all Chinese banks. Meanwhile, ICBC's "one-stop" global cash management service is extending to a great number of multinational corporations spanning nearly 50 countries/territories, driving the healthy growth of Chinese "go global" companies.

ICBC's global cash management platform and cash management portfolio cover the administration of accounts across the world, centralized collections and payment, cash pool solutions in local and foreign currencies, investment and financing solutions, and risk management. All these services allow multinational companies to transfer funds across different countries and banks, and manage all accounts around the world, collections/payments as well as risks. By way of centralized management, multinational companies can reduce risk of operating business in different countries and improve management effectively.

Today, ICBC global cash management business represent a full range of fast, convenient and high value-added services, covering global account opening, payment authorization, MT940 statement, account enquiry, services for overseas employees, centralized payment and cash pool, said an executive with the Bank. Especially the China-Africa cross-border cash management platform and the Africa service solutions, the first financial product jointly launched by ICBC and the Standard Bank of South Africa, facilitate cross-border cash management between China and African countries and create a new model for Chinese and African countries to manage cash across the borders directly.

To enhance customer services, ICBC ramps up overseas branch network. With the Asia Pacific Cash Management Center, China-Africa cash management platform, and new cash management centers in Europe, America, ICBC has set up a 3-tier service architecture comprising "Head Office - Regional Centers - Branches at home and abroad" spanning Asia Pacific, Africa, Europe and America. Moreover, ICBC expands cash management service worldwide by working with over 30 foreign banks to provide cash management services in major financial and economic centers and regions packed with overseas offices of Chinese companies.