The International 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 customers. 
Head Office