• ICBC Loans Singapore

    About the Bank

    The Industrial and Commercial Bank of China (ICBC) is one of the largest banks in the world. It was founded in 1984 in Beijing, China and is owned by the state. Today, the bank is present in many countries around the world, including Singapore and has a variety of products and services for its customers. At present, the headquarters of the bank is in Beijing.

    History of ICBC Bank

    The Industrial and Commercial Bank of China (ICBC) came into existence in the year 1984. In the year 1993, the bank opened a branch in Singapore. This office is among the first branches of the bank. ICBC got a Qualifying Full Bank License (QFB) from the MAS (Monetary Authority of Singapore) in the year 2012 and a Wholesale Banking License in 2003. In 2013, ICBC was chosen for the ‘RMB Clearing Bank’ status in the Island nation.

    The bank entered Europe in 1999 by setting its branch in Luxembourg which later became its headquarters in the continent. ICBC is present in many important cities throughout Europe, such as Paris, Brussels, Amsterdam and Madrid among others.

    2006 was a very good year for the bank. It got listed in both the Hong Kong and Shanghai Stock Exchanges and became the world’s largest Initial Public Offering (IPO) Company. ICBC entered the United States of America in the year 2008. In 2008, the bank got permission from the U.S. Government to set up its branch in New York City. It was the second Chinese bank to get this permission. In the year 2011, the bank started branches in Pakistan. ICBC entered South America in 2012 by taking over the Standard Bank, Argentina and became one of the largest banks in the region. By 2014, the bank was present in the Middle East, India, Africa and many other places.

    Today, ICBC is present in 41 countries around the world and is one of the biggest banks in the world.

    Performance History

    The Industrial and Commercial Bank of China’s exponential growth is itself a proof of its brilliant performance. It has gained a position among the top banks in the world in a very less time. Today ICBC is one of the largest banks in the world and is known to all. The total assets of the bank was worth RMB 20,609,953 million and its net profit was RMB 276,286 million at the end of 2014.

    Why Choose This Bank?

    ICBC is present 41 countries around the world and provides a wide range of products and services to its customers. In Singapore, a person can benefit a lot by choosing the products of ICBC Bank. Be it bank card, deposits or loans, ICBC Bank provides it all. If a person wants to find any information about the products and services of ICBC Bank in Singapore, they should visit the branch or the website of the bank or call them up. It is easy and simple to apply for the products. The bank also provides a person with very good internet and phone banking services.

    Loans offered by ICBC Bank

    ICBC is one of the few banks on the island that caters to offering both, personal as well as corporate loan options to its customers. Staying true to its of providing both, industrial as well as commercial financing, the bank offers personal line of credit in the form of its personal loan as well as commercial financing that includes vessel financing, aircraft financing, real estate development plan and many more.

    Personal Loan

    The personal loan offered by ICBC bank has several advantages including no application fees charged, flexible loan tenures up to 3 years and fast approval for a hassle free process. Additionally, you can avail low interest rate packages for this personal credit service when you pledge your assets as collateral.

    Find below the types of Personal Loan offered by ICBC bank -

    • Personal Pledged Loan

    Corporate Loan Financing

    ICBC provides its corporate loan financing according to the different business enterprise categories with an array of financing options that can be bilateral or syndicated and specifically designed to meet the daily operational requirements and needs of the business enterprise as well as its customer’s special projects. This ICBC loan financing option can be used for both, short term financing as well as long term financing.

    Find below the types of Corporate Loan Financing options offered by ICBC bank -

    • Overdraft
    • Working Capital Loan
    • Syndicated Loan
    • Vessel Financing
      1. Vessel Mortgage Financing
      2. Financial Leasing Financing
      3. Operating Lease Financing
      4. Lease Back Financing
    • Aircraft Financing
      1. Pre - delivery Financing
      2. Financial Leasing Financing
      3. Lease Back Financing
      4. Leasing Guarantee and Counter Guarantee
    • Project Loan
    • Real Estate Development Loan
    • Additional Credit Facilities
    • Internationalisation Finance Scheme

    Products and Services Provided by the Bank in Singapore

    The Industrial and Commercial Bank of China has a wide variety of products and services for its customers to choose from. In Singapore, the bank provides the following products and services -

    Personal

    Corporate

    • Cash Management
    • Commodity Trade Finance
    • Corporate Deposit
    • Trade Financing
    • Loan Financing
    • Bank Guarantee

    Institutional

    • Overseas Inter-bank Refinance
    • Trade Risk Distribution
    • Forfaiting

    Services

    • Remittance
    • Internet Banking
    • Private Banking
    • Account Opening Witness
    • Global Accounts Management
    • Currency Exchange
    • Clearing and Settlement

    Apart from this, the bank also provides RMB Clearing Bank products and services in Singapore. To get more info on the products and services, one should contact the bank.

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    Branches

    ICBC Bank is present in 41 countries in the world including Singapore.

    Awards

    ICBC has won many awards over the years. Some of them are as follows -

    • The Banker Awards, 2014
    • Euromoney Awards, 2014
    • Global Finance Awards, 2014
    • The Hong Kong Management Association Awards, 2014
    • Interbrand Awards, 2014
    • Financial Times Awards, 2014
    • The Asset Awards, 2014
    • The Asian Banker Awards, 2014
    • Global Custodian Awards, 2014
    • Asiamoney Awards, 2014
    • FinanceAsia Awards, 2014
    • Corporate Governance Asia Awards, 2014
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