"The banks should also cooperate with insurance companies to reduce the risk on loans extended to the emerging strategic industries," added Mei Xingbao, the former president of the China Orient Asset Management Corporation and a member of the CPPCC National Committee.

Yang also expects the bank's personal consumer loan business to grow significantly during the coming five years. Currently, personal consumer loans account for 25 percent of the ICBC's total loans, he said.

In the meantime, the bank will continue to expand its lending to the country's small and medium-sized enterprises and further cut loans to seven industries, including those involved in polysilicon, cement, steel and shipbuilding, which are facing severe overcapacity, Yang said.

When asked about whether the banks are facing increased pressure because of the requirement to hold higher ratios of reserve currency, Yang said that some may indeed come under pressure but banks' tolerance to cope with higher required reserve ratios will be varied and their position will depend on their financial strength and asset structure.

The country's central bank has raised its reserve ratio requirements eight times since last year, driving up the level to 19.5 percent for big banks.