ICBC

Founded in 1984, Industrial and Commercial Bank of China (ICBC) is the largest bank in the world by profit and market capitalisation as of 2012. It is one of China's 'Big Four' state-owned commercial banks -- the other three are Bank of China, Agricultural Bank of China, and China Construction Bank.

China’s ICBC bank 2014 profits up 5 per cent, bad debt ratio climbs

A man pedals past the ICBC bank branch in China. Photo: Bloomberg

Industrial & Commercial Bank of China, the world’s largest bank by assets, held up worse than expected in 2014, with profits hitting 275.8 billion yuan, rising just 5 per cent on the year before.

Thursday, 26 March, 2015, 9:05pm

ICBC to issue US$5.7 billion of preferred shares in three currencies

ICBC is planning the largest offshore issuance of hybrid securities by a mainland firm. Photo: Bloomberg

Industrial and Commercial Bank of China will issue US$5.7 billion worth of preferred shares in three currencies in what will be the largest offshore issuance of hybrid securities from a mainland firm.

4 Dec 2014 - 9:42am

Higher bad-loan rates tipped for Bank of China and Agricultural Bank

Net income at Agricultural Bank slowed to 6 per cent quarter on quarter, its weakest growth since 2011. The lender also reported the highest NPL ratio. Photo: Bloomberg

Bad debt at the mainland's biggest banks continued to climb in the third quarter, sparking a warning on mounting risk and potential corporate defaults from a top central bank official.

31 Oct 2014 - 8:08am

Mainland banks' bad loans on the rise

Industrial and Commercial Bank of China (ICBC) reported their biggest quarterly increase in bad loan levels in two years. Photo: Bloomberg

Two of the mainland's biggest banks reported sharply rising bad loans for the third quarter, with one adding that a credit crunch squeezing small companies in export-oriented eastern provinces might be spreading westwards.

30 Oct 2014 - 6:26am

ICBC issues offshore yuan bond in Singapore

ICBC issues offshore yuan bond in Singapore

Industrial and Commercial Bank of China, the mainland's biggest lender, raised four billion yuan (HK$5.04 billion) through its Singapore branch in what would be the Lion City's biggest offshore yuan bond issuance.

17 Sep 2014 - 5:39am

Zhang Hongli lawsuit 'will hurt Deutsche Bank's ICBC relationship'

In 2006, Deutsche Bank became a book runner for ICBC's US$19 billion initial public offering in Hong Kong, the world's largest at the time.

The US$6.3m lawsuit filed by Deutsche Bank against ICBC executive Zhang Hongli will hurt the German lender's relationship with the mainland bank.

25 Aug 2014 - 2:51pm 1 comment

ICBC beats predictions with 7 per cent profit rise in first quarter

ICBC said net profit grew to 73.3 billion yuan (HK$92 billion), compared with an average estimate of 71.5 billion yuan from a poll of 11 analysts. Photo: Reuters

Industrial and Commercial Bank of China beat estimates with a rise of nearly 7 per cent in first-quarter net profit, the fourth of the mainland's biggest lenders to show more resilient profits than expected as interest income held firm.

30 Apr 2014 - 1:31am

ICBC mulls bid for Pioneer to extend global reach in asset management

The Sunday Times previously reported that ICBC could pay as much as €2 billion for Pioneer. Photo: Bloomberg

Industrial and Commercial Bank of China is considering a bid for Pioneer Investments, one of Europe's biggest money managers, according to a person familiar with the matter.

3 Apr 2014 - 6:50am

ICBC profit climbs 10.2 per cent on fees, high net interest margins

ICBC plans to step up overseas operations amid yuan's changes.

Industrial and Commercial Bank of China (ICBC), named last year as the world's most profitable bank, said its net profit rose 10.2 per cent to 263 billion yuan (HK$331.5 billion) in 2013, thanks to high net interest margins and its fee-based businesses.

28 Mar 2014 - 2:01am

ICBC bailout of trust product unlikely

ICBC chairman Jiang Jianqing said the bank would not "rigidly" pay back investors who lost money in the trust. Photo: Sam Tsang

Beijing appears to be shoring up its resolve to resist pressure for a bailout of a 3 billion yuan (HK$3.8 billion) trust product that is seen as a test of the willingness of authorities to push ahead with moves to reduce risks in the financial system caused by spiralling debt.

27 Jan 2014 - 3:06pm

Asian players develop an appetite for risky commodities trading

Wilson Wan, the head of China Merchant Securities (Hong Kong), is establishing a new unit for oil futures trading, focusing on the three mainland oil majors. Photo: Jonathan Wong

While Western financial giants have been exiting the high-risk, high-reward commodities trading business, capital-rich Asian firms, including state-owned banks and brokerages from China, have seized the opportunity to enter the market.

22 Jan 2014 - 12:40am 1 comment

Troubled shadow bank product tests no-default policy in China

ICBC's shares have fallen amid speculation the bank would be forced to help repay investors in the off-balance-sheet investment product. Photo: AFP

A high-yielding investment product based on a loan to an indebted coal company is offering the latest test of Beijing's willingness to permit defaults in the mainland's shadow banking system.

17 Jan 2014 - 12:58am

More than 500m yuan of bonds marketed

The ICBC dim sum bond will be marketed heavily in Europe, a banker close to the deal said. Photo: Reuters

Industrial and Commercial Bank of China, the world's largest bank by market capitalisation, launched a yuan bond yesterday that was mainly distributed in Britain.

13 Nov 2013 - 1:28am

ICBC told to hold extra capital to avert crisis

ICBC, the world's most profitable bank, says it does not need to raise extra capital as it has the minimum required ratios. Photo: Bloomberg

Industrial and Commercial Bank of China was added to the list of too-big-to-fail banks as global regulators revised the roster of lenders that must hold extra capital to prevent another financial crisis.

13 Nov 2013 - 2:22pm

ICBC eyes growth in Hong Kong retail deposits

ICBC eyes growth in Hong Kong retail deposits

ICBC Asia, the second-largest mainland bank subsidiary in Hong Kong, is looking to boost new deposits as the first step to competing with the city's more established retail rivals.

15 Oct 2013 - 2:54am

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