On the evening of July 8, the US magazine, Fortune , released the 2013 list of Fortune Global 500 companies, and Chinese companies (including those based in Taiwan) covered in the list rose to 95, an increase of 16 over the last year. Industrial Bank (IB, 601166) features in the list, ranking No.428.
Fortune Global 500 has always been the most famous and authoritative list for evaluation of large companies in the world, and it is known as the “ultimate list”. In this year, the threshold for Fortune Global 500 (ranked according to business incomes) went up USD 1.2 billion, approaching USD 23.2 billion.The new companies from Chinese Mainland featuring in the list are mainly distributed in the sectors including energy and mining, automobile industry, and finance, etc., of which 13 are financial enterprises including nine commercial banks and four insurance companies.
As China's pioneering bank in green finance, IB makes its first presence in the list with its business incomes of USD 27.2479 billion, ranking No.428 in the list, and No.8 among Chinese banks.
In recent years, IB adhered to the differentiated business strategies, and kept pushing business transformation and specialized reform of business lines, thus increasing its overall strength continuously.As revealed in IB's 2012 report, by the end of 2012, the total assets of the bank reached RMB 3250.975 billion, an increase of RMB 842.177 over the beginning of the year, up by 34.96%; and the operating income reached RMB 87.619 billion, up by 46.35%. In the latest Top 100 World Banks 2013 released by the British magazine, The Banker IB ranked No.55 in terms of Tier 1 capital and No.50 in terms of total assets.