In an announcement by ICBC on its results highlights in the evening of January 26, the net profit attributable to shareholders of the parent company for the year 2009 was up around 15% year on year. Judging by the China Accounting Standard, this is an initial estimate based on the 2009 financial data. Further financial data will be covered in the audited 2009 Annual Report and will be the final. 

According to the ICBC spokesperson, ICBC maintains a strong momentum in recent years. Net profit was growing at an average rate of 37.6% (international-audited) every year over the course of 6 years from 2003 to 2008. This is a real acceleration far ahead of other large multinational banks throughout the world. In 2009, ICBC seized the opportunity and sought fuller embrace of State's macro control policy despite the challenges from the unbridled global financial crisis. Set against this scenario, ICBC gathers its pace in reform and innovation with improved business structure and financial services. ICBC is moving forward steadily with stellar performance better than expected and profitability growth at high starting point.  

Counting the first factor in explaining ICBC's high percentage of growth is the recent years' efforts on the development and business model and finding the new growth areas. The blistering pace of revenue streams for the past few years is a result of a diversified income structure, which drives down the negative impact from economic turmoil on a bank's profitability. Last year, ICBC capitalized the historic opportunity created by the State's policy of maintaining growth and expanding domestic demand. Steps were taken to sharpen competitive edge through faster financial innovation and business re-orientation. ICBC's main businesses stay ahead of the curve. Most of the emerging service areas dominate the market shares. In order to stay relevant in the changing landscape, ICBC is taking the approach of using services as one important vehicle to increase service quality and competitive edge by focusing on IT and product innovation, channel building and revolutionary service model.    

Worthy of mention, in line with the State's macro control policy and the basket of programs for weathering the challenges from global financial crisis, ICBC concentrates to keep a balanced loan book while meeting the funding requirements of the business entities. To maintain good quality of asset and play its role in being a large bank to support the economy, ICBC takes strict measures to control lending with minimum risk and to the right customers. Attention is paid on the enforcement of ICBC's credit policy within the context of State's industrial policy. Loans are released to key national investment projects or main sectors stated under the State's policy, major enterprises, and also for small enterprises, trade finance as well as individual spending in answering customers' needs for greater availability of funds. ICBC's loans help key projects in many industries, new energy, resources utilization, energy savings, environmental protection, and foster the development of modern services. On the other hand, loans are restricted to companies in "high energy-consumption, high pollution and overcapacity" industries and to repeating projects. The goal is to improve lending to better support the economy by building an optimum portfolio of loan customers.