Icbc business Review

Channel Development and Service Enhancement
At the end of 2019, the Bank had 15,784 outlets, 25,895 self-service banks and 82,191 ATMs whose trading volume amounted to RMB8,261.3 billion.
1. Channel Development: The Bank actively improved the geographical distribution of outlets and aligned the outlet network structure better with market resources, significantly improving the ability to cover core areas and high-quality customer groups. The Bank made further headway in making its outlets smarter by making full use of advanced technologies such as blockchain, Internet of Things and artificial intelligence, so as to enrich service scenarios for people’s wellbeing.
2.Service Enhancement. The Bank continued to cement the groundwork and outcomes of its efforts to build a “bank to the satisfaction of customers”, and improved the quality of services across the board. It carried out the “Considerate Services for General Public” campaign, and continued to improve customer experience and the quality of its services.
3.Consumer Protection..The Bank implemented the laws, regulations and regulatory requirements on consumer protection. It established the Corporate Social Responsibility and Consumer Protection Committee under the Board of Directors, in a bid to further improve the customer protection system at the corporate governance level.
Internationalized and Diversified Operation
1.Internationalized Operation. ICBC (Austria) officially opened, and ICBC (Europe) Greece Representative Office and Macau Branch were granted licenses. At the end of 2019, the Bank established 428 institutions in 48 countries and regions and indirectly covered 20 African countries as a shareholder of Standard Bank Group. The Bank also established correspondent banking relationships with 1,445 overseas banking institutions in 143 countries and regions, making its service network covering six continents and important international finance centers around the world. The Bank maintained 129 institutions in 21 countries and regions along the Belt and Road. As at the end of 2019, total assets of overseas institutions (including overseas branches, subsidiaries and investments in Standard Bank) of the Bank were USD405,683 million, an increase of USD21,379 million or 5.6% from the end of the previous year, and they accounted for 9.4% of the Group’s total assets.
2.Diversified Operation. ICBC Credit Suisse Asset Management actively served the real economy and diverse customer demands, and managed to improve the business structure continuously and enhance the quality and efficiency steadily. ICBC Leasing endeavored to improve its ability to provide professional and integrated financial services and continued to pursue transformation to high-quality development while fortifying the groundwork for risk management and control. ICBC-AXA made solid progress in business transformation and enhanced professionalism in investment. It managed to embrace healthy business development on all insurance fronts based on the Group’s channel advantages, recording the strongest performance by a number of operating indicators. ICBC International continued to unleash its growth potential, showing continuous enhancement of market competitiveness and steady improvement in operation effectiveness and asset quality across its four major businesses, i.e. investment banking, sales and trading, investment management and asset management. ICBC Investment focused work on the strategic plans for supply-side structural reform and strengthened coordination with the Group. It diversified fundraising channels, strengthened enterprise risk management and control, pursued market-oriented debt-for-equity swap business in a proactive and prudent manner and kept improving the quality and efficiency of serving the real economy. ICBC Wealth Management, as the first banking wealth manager approved, was among market leaders in terms of business qualifications, product migration and IT system building. As guided by the New Rules on Asset Management, ICBC Wealth Management rolled out over 350 characteristic products. ICBC Technology successfully opened for business in Xiongan New Area. The setup of ICBC Technology represented the Banks’ strategic move to build a smart bank relying on the nature of finance and leveraging on the Bank’s strengths in FinTech and integrating innovation capabilities.