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Founded in 1984, Industrial and Commercial Bank of China (ICBC) 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.
- State support for the Chinese banks will vary as the authorities try to share some of the losses with large creditors, say analysts at Moody’s and Fitch
- Up to 10 per cent loss sharing by wholesale creditors of Bank of Baoshang, and Bank of Jinzhou skipping its coupon payment on dollar bonds are some examples
ICBC, China’s largest lender by assets said the global economic environment is expected to ‘tighten on the whole’ in the second half, but said that it expects the mainland’s economy to ‘operate robustly’
ICBC, China’s largest lender by assets said the global economic environment is expected to ‘tighten on the whole’ in the second half, but said that it expects the mainland’s economy to ‘operate robustly’
Big Chinese lenders have long sacrificed profits in the name of national service. For shareholders already skittish about the trade war, rising corporate defaults and slowing economic growth, it’s yet another reason to sell.
Big Chinese lenders have long sacrificed profits in the name of national service. For shareholders already skittish about the trade war, rising corporate defaults and slowing economic growth, it’s yet another reason to sell.
ICBC will invest up to 3 billion yuan (US$436 million) in the bank, with China Cinda Asset Management and China Great Wall Asset Management also investing.
ICBC will invest up to 3 billion yuan (US$436 million) in the bank, with China Cinda Asset Management and China Great Wall Asset Management also investing.
In a first, more Chinese companies have made it to Fortune magazine’s list of the world’s top 500 firms this year, than from the US. A total of 129 companies, including 10 from Taiwan, were ranked among the world’s biggest firms by operating revenue, according to a list released on Monday.
In a first, more Chinese companies have made it to Fortune magazine’s list of the world’s top 500 firms this year, than from the US. A total of 129 companies, including 10 from Taiwan, were ranked among the world’s biggest firms by operating revenue, according to a list released on Monday.
Gu Guoming, chief governor of the branch, is regarded as one of the most powerful figures in Shanghai’s financial sector
Gu Guoming, chief governor of the branch, is regarded as one of the most powerful figures in Shanghai’s financial sector
Livi VB, the new virtual banking arm of Bank of China (Hong Kong), is a different type of business model, and the bank is not looking for it to break even in the first three years of operations, its CEO said on Thursday.
Livi VB, the new virtual banking arm of Bank of China (Hong Kong), is a different type of business model, and the bank is not looking for it to break even in the first three years of operations, its CEO said on Thursday.
Industrial and Commercial Bank of China, the world’s largest lender by assets, as well as China’s other “Big Four” banks and Ping An Insurance are all in the top 10.
Industrial and Commercial Bank of China, the world’s largest lender by assets, as well as China’s other “Big Four” banks and Ping An Insurance are all in the top 10.
The fallout from a “window guidance” by the CBIRC on recognising non-performing loans at more than 60 days overdue will be minimal, as the country’s big state-owned lenders have been making more stringent provisions since last year, analysts have said.
The fallout from a “window guidance” by the CBIRC on recognising non-performing loans at more than 60 days overdue will be minimal, as the country’s big state-owned lenders have been making more stringent provisions since last year, analysts have said.
Fintech firms are increasingly positioning themselves as banks’ tech partners, rather than disrupters
Fintech firms are increasingly positioning themselves as banks’ tech partners, rather than disrupters