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ICBC reports deposits hitting 5 trillion yuan mark
(Xinhua)
Updated: 2005-01-17 16:14

The Industrial and Commercial Bank of China (ICBC), the country's biggest bank, reported Monday its outstanding deposits had reached 5.07 trillion yuan (US$613.4 billion).

The bank's deposits took the lead among its peers to hit the 5 trillion yuan (US$604 billion) mark at January 13.

Savings deposits, usually stable in sources and less pervious to external climate, hit 2.83 trillion yuan (US$342 billion), making up 56 percent of the bank's total. High-end clients, whose savings stood at 50,000 yuan (US$6,040) or above, reached 12 million in number, accounting for 12 percent of the total, the bank said in a report.

Robust deposits came on the back of the bank's innovation efforts and improved financial service, as well as China's rapid economic growth and a steady rise in the people's income, it noted.

ICBC witnessed an almost thirty fold increase in its outstanding deposits from 1984 -- when it was inaugurated -- to 2004.

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