The Industrial & Commercial Bank of China (ICBC) was named China's top bank of 2001 in this month's issue of British-based financial magazine The Banker.
ICBC won the honor last year in the magazine's first selection of best banks of different countries, and also was named best bank in the world in 2000, according to the ICBC.
Commercial banks of 106 countries were candidates this year.
U.S.-based Citibank was chosen as world's best bank for the year.
The Banker said that the ICBC combined effective management, marketing and customer service to stand out as first choice. The bank will be able to face the competition that will appear when China enters the World Trade Organization (WTO), it added.
ICBC's high-quality electronic banking business was also a factor in the decision.
he ICBC is the largest commercial bank of the Chinese mainland and the first to have a branch listed in Hong Kong, the Industrial & Commercial Bank of China, Asia Ltd (ICBC Asia).
(people's daily.com.cn 09/16/2001)
