Commercial Bank of China is one of the
most time-honored banks in the Republic of China.
It was established under the name of "The Bank of
China" during the first year of the foundation of
the Republic of China in 1912, through the
reorganization of the Ta Ching Bank and its
predecessor, the Hupu Bank, (Hupu-literally means
Finance Department of the imperial court of China
in the early years.) set up during Ching Dynasty
in 1904, which was the earliest government owned
and operated bank ever established in China.
The Bank of China served in the capacity as a central bank for the
Republic of China until the government established
the Central Bank of China in 1928. Thereafter the
bank became an international exchange bank, giving
up its function in central banking.
After 1949, the year of the evacuation of the
Nationalist Government from the mainland China,
the bank moved to Taipei, and resumed its full
operation on October 24, 1960. Twelve years later
and as a result of its successful operation in
Taiwan, the Bank of China, in compliance with
governmental policy for promoting privatization of
banking industry and international trade, was
again reorganized and assummed its present status
as a public owned banking corporation under the
new name of the International Commercial Bank of
China on December 17, 1971.
The International Commercial Bank of China was
enfranchised by the government to engage, as its
name implies, in international commerce and
exchange. Its field of operation includes: all
commercial banking operations permitted under the
banking laws; foreign exchange and related
operations; import and export financing and
guarantees and other financial operations related
to the promotion of international trade. The
establishment of a Savings & a Trust Department to
handel businesses related to savings and trust,
and other related business as may be approved by
the central competent authority.
Under the special approval of the Ministry of
Finance, it may also invest in marketable foreign
securities and act as an agent for other financial
or commercial organizations in issuing corporate
bonds or bank debentures on foreign markets,
handling their repayments of principal or
interest, and tending to other agency operations.
ICBC is authorized to set up a trust department
and an offshore banking department to operate
trust and securities-related business and also to
conduct offshore banking operations.
The ICBC head office is responsible for the
management and supervision of all of its banking
operations, including those of its branches and
representative offices in various domestic and
foreign cities. As of June 30, 1999, the bank has
64 domestic branches,12 offices and 25 foreign
units, including 3 branches, 1 subsidiary and 1
representative office in North America, 3 branches
in Central America, 2 branches and 1 subsidiary in
Europe, 9 branches and 1 representative office in
Asia, 1 representative office in Middle East, and
2 branches . 1 subsidiary in Australia.
With its world-wide network of outlets, ICBC is
in full swing in helping promote commercial
activities of this country and the world economy
as well, and the management and its staff do enjoy
the vicarious pleasure from the success of its
Tower, Asoke, Sukhumvit 21, Klong Toeynua,
Wattana Bangkok 10110 Thailand
Ms. Wannipa Ms.Nantha
Mr. Somchai Sakulsrimontris
Mr. Vichien T.