(A short version of this case is also available: IMD-1-0335 Industrial and Commercial Bank of China: The Governance Model.) In June 1999, ICBC – the largest commercial bank in China – was technically bankrupt, with a nonperforming loan ratio of 47.59%. But, thanks to the united efforts of the government, the management team and its employees, the bank rose from the ashes through a transformation in its governance structure. After the third quarter of 2007, ICBC had continued to be ranked as the largest bank in the world by market capitalization, customers’ deposits and profitability. This case was developed to record corporate governance reform at ICBC within the context of China’s banking reform. It describes the evolution of governance in China, the challenges faced by leaders at all levels, the choices made and the results of these hard decisions. The challenges and discussion are relevant to Western companies in terms of understanding the corporate governance structure adopted by large Chinese enterprises. The success of the bank and its unique governance structure bring much inspiration from East to West.
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Research Information & Knowledge Hub for additional information on IMD publications
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Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications