Industrial & Commercial Bank of China

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Fortune Global 500

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

G500-2023-Industrial Commercial Bank of China

The Industrial &amp; Commercial Bank of China (ICBC) is the largest commercial bank in the world by revenue, posting $214.7 billion in 2022, a 2.8% increase from 2021. It recorded profits of $53.5 billion, down 0.8% from the year prior. 
<ul> 
 	<li>It also has the highest-valued assets of any global bank at more than $5.7 trillion in 2022.</li> 
 	<li>The bank’s nonperforming loan (NPL) ratio fell 4 basis points to 1.38% after a 16-point reduction in 2021, a sign that China’s real estate debt crisis has eased but is not entirely resolved.</li> 
 	<li>The bank’s capital adequacy ratio, a representation of its ability to absorb loss without a threat to its solvency, has increased 238 basis points since 2020.</li> 
</ul>

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

G500 2022-22-Industrial and Commercial Bank of China

The Industrial &amp; Commercial Bank of China (ICBC) is the largest bank in the world by revenue; in 2021 it posted revenue of $209 billion, profits of $54 billion, and assets of $5.5 trillion. Personal banking was a particularly bright spot for the Beijing-based, state-owned bank in 2021, as the government eased up on lending restrictions as part of its economic stimulus. The division accounted for nearly half of the ICBC’s total profits, as the bank attracted 23.4 million new customers, part of its concerted effort to reach more people across China, particularly in rural areas. The bank’s nonperforming loan ratio fell 16 basis points to 1.42%, a sign that fewer people had defaulted on their loans than in 2020. ICBC’s strategy since 2021 has been to transform itself into a “customer-centric” business rather than strictly a commercial operation, a strategy that may prove savvy should China’s debt-addled property market continue to falter.

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500-2021-020-Industrial Commercial Bank of China

ICBC, the Industrial and Commercial Bank of China, made a modest move up on this year’s Global 500, rising four spots. The world’s largest lender by assets, ICBC in 2020 reported a $48.1 billion profit—a 1.2% increase from the year prior—thanks to China’s quick economic rebound from the pandemic. This May, the state-owned behemoth signaled a greener future ahead: The bank announced it will establish a road map and timeline for the “gradual” withdrawal of coal financing projects. ICBC is one of the world’s largest coal financiers and provided $4 billion of direct funding to the world’s top coal companies in 2019.

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

G500-2020-024-Industrial-Commercial-Bank-of-China

ICBC, China’s largest bank by assets, is entering uncertain times. The U.S. has threatened to sanction banks that work with Chinese government officials who have pushed a national security law in Hong Kong. The move could, in the worst-case scenario, cut ICBC off from the U.S. dollar, curtailing the bank’s ability to process international payments. ICBC also suffered a more symbolic loss in June 2020, slipping to second place among the most valuable public companies listed in mainland China. First place was taken by Kweichow Moutai, a liquor maker, whose shares have soared during the COVID-19 pandemic.

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

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Industrial and Commercial Bank of China (ICBC) is the world’s largest bank by assets, with $6.3 trillion in assets as of mid-2024, according to S&amp;P Global. The bank provides a wide range of personal and commercial banking services, including advising and M&amp;A, and does business in 45 countries around the world. Founded in 1984, ICBC, like other Chinese banks launched in that era, was born out of efforts to reform and modernize the Chinese economy. In 2006, ICBC shares began to trade on the Shanghai and Hong Kong stock exchanges.

Industrial & Commercial Bank of China

Industrial & Commercial Bank of China in Fortune Rankings

Industrial & Commercial Bank of China stock chart