ICBC is the chosen acronym of the Industrial and Commercial Bank of China, a Beijing-based bank founded in 1984. The bank is expanding aggressively into overseas markets, and enjoys the backing of China's government as one of four major state-owned commercial banks.
According to Standard & Poor's, the bank accounts for 13% of loans in China and 15% of all deposits. ICBC has more than 16,000 locations in China and its shares trade in both Hong Kong and China.
