Industrial and Commercial Bank of China (ICBC) is the largest of China's Big Four state-owned commercial banks, the other 3 banks being the Bank of China, Agricultural Bank of China, and China Construction Bank, the largest bank in the world in terms of market value and one of the world's top 10 banks by assets.
As of 30 June 2006, it had assets of US$893 billion, 18,764 outlets including 106 overseas branches and 1,165 agents globally. In July 2007, with a market capitalisation of US$254 billion it became the world's most valuable bank after a strong gain in its share price, overtaking Citigroup Inc..
ICBC was simultaneously listed on both the Hong Kong Stock Exchange and Shanghai Stock Exchange on 27 October 2006. It was the world's largest IPO to date, surpassing the previous record US$18.4 billion IPO by Japan's NTT DoCoMo in 1998. China's largest commercial bank is also the first company to debut simultaneously on both the Hong Kong and Shanghai stock exchanges.