On March 9, Global Custodian held the 2005 award ceremony of best custody bank in London, UK. Beating its Chinese rivals, CCB was awarded the “Best Custody Bank in China”. It is the second consecutive year that the bank receives the honor granted by Global Custodian to banks of emerging market.  

Global Custodian is one of the most authoritative magazines covering the securities and custody services business with circulation to over 20,000 professional investment institutions. The Emerging Market Custody Service Survey held by the magazine over the past 17 years is well known for its wide coverage and independent rating indexes which truly reflect the services and strength of custodian banks and has become a major industry event. The 2005 survey covered 61 markets worldwide and mainly evaluated the size of custody asset, custody service quality, efficiency and flexibility, the technology of custody system and the local market influence of custody bank. Global Custodian independently issued questionnaires to the customers of candidate banks and decided the final winner according to customers’ responses. 

It is said that two years ago the Emerging Market Custody Service Survey started covering the Chinese custody business. The average marks of CCB outperformed other Chinese candidate banks and 3 foreign banks as well. In the survey Global Custodian pointed out foreign banks are surprised to see the four Chinese state-owned banks are capable of providing custody services up to the international standard and more importantly CCB has become the first such bank truly competing with foreign counterparts for the Chinese custody market.  

In 2005 the custody asset of CCB grew steadily. Its net asset of custody securities investment fund increased by 59%, other custody assets including endowment insurance, enterprise annuity and insurances grew by 80% and custody QFII investment amount rose by 83% over 2004. CCB has improved the custody service quality and raised customers’ satisfaction through optimizing the business system, strengthening staff training and increasing flexibility of customer services. The fact that CCB wins the Best Custody Bank in China award reflects customers’ and market recognition of the bank’s custody services. 

Official of CCB says that the bank will follow as always the “customer-oriented” business philosophy to continue providing customers with diversified and quality custody services.