OREANDA-NEWS. June 30, 2014. In recent Visa annual global risk conference, ICBC won the 2014 Best Asia-Pacific Risk Control Award granted by Visa International Service Association, becoming the first Chinese bank to win this title. This award reflects ICBC’s leading position in credit card risk management worldwide.

Visa annual global risk conference selects the bank with strongest risk control in Asia-Pacific for the best Asia-Pacific risk control award, to honor its reliable credit card risk management system and outperformance in card issue and acquiring supervision.

A senior official with ICBC said that in recent years ICBC has been innovating its risk management concept and method to establish an all-round risk prevention system and a reliable credit card environment. As at the end of 2013, ICBC’s overdue rates of 30-180 days’ and 90-180 days’ were 1.07 percentage points and 0.74 percentage points lower than international peers, respectively; credit card loss rate was 1.75 percentage points lower than international peers ; overseas fraud transaction rate was 15.49 basis points lower than the figure published by Visa International Service Association.

The official also indicated that ICBC would continue to regard risk management as an important premise of sustainable development, and step up efforts on the goal of building the “World’s Largest Card Issuing Bank and China’s Top Credit Card Brand” by constantly improving credit card risk management system, thereby providing more secure and efficient credit card service for customers.