Industrial and Commercial Bank of China (ICBC)
TOPIC
 / company

Industrial and Commercial Bank of China (ICBC)

Industrial and Commercial Bank of China (ICBC)
Industrial and Commercial Bank of China (ICBC)
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.
The Alibaba logo is seen on a smartphone screen in this arranged photograph taken March 20, 2025. Photo: Shutterstock Images
Alibaba

Alibaba cements AI leadership as cloud unit reports fastest growth since 2022

Internally, the company is also betting big on the integration of AI technologies with its traditional e-commerce business.

IPO

CATL’s dilemma: top-of-the-range Hong Kong IPO price may cap first-day gains

Hong Kong tourism

17% rise in long-haul visitors to Hong Kong in April

Hong Kong stock market

AIA, Xiaomi lift Hang Seng Index, offsetting losses due to poor China PMI data

China’s April PMI falls to 49 from 50.5 in March and short of the consensus estimate of 49.7.

Hong Kong shares fell on Wednesday after China reported poor manufacturing data for April. Photo: Jelly Tse
Banking & finance

Chinese banks raise consumer loan rates from record low to protect margins

Banks will offer consumer loans at 3 per cent to boost their net interest margins, which hit a low of 1.52 per cent at the end of last year.

Banking & finance

Chinese state banks’ 2024 profits rise, NPLs dip even as margins thin

All six state-owned commercial banks posted moderate profit growth for last year, as non-performing loan ratios declined slightly.

Advertisement
Advertisement
Advertisement
Hong Kong property

ICBC (Asia) backs Hong Kong developers with loan support as sector struggles

Local subsidiary of China’s largest bank has ‘zero’ non-performing loans from Hong Kong developers and plans to increase home mortgages.

A worker cleans a pool near residential construction projects in the Kai Tak area of Hong Kong on March 11, 2025. Photo: May Tse
Banking & finance

Beijing allows Hong Kong banks to issue credit cards in China from March 1

The new rules will benefit lenders such as HSBC, Standard Chartered, Bank of East Asia and Hang Seng Bank, analysts say.

Corruption in China

Former ICBC executive gets death sentence with reprieve for taking bribes

Zhang Hongli, who was vice-president of the state-owned bank, accepted bribes in exchange for help with loan financing and securing jobs.

15
Banking & finance

Hong Kong banks offer lai see, hampers, Asia Miles to returning workers

Companies have traditionally given staffers lai see packets on the first working day of the Lunar New Year.

Lai see packets. Photo: Shutterstock Images
China stock market

Chinese banks surge on CSRC guideline urging more shareholder returns

Chinese banks soar after regulator pushes for increased shareholder returns, aiming to enhance stock prices and corporate governance.

Shares of top banks, including ICBC, rose on Monday after the regulator pushed for increased shareholder returns. Photo: EPA-EFE
Banking & finance

China weighs injecting US$142 billion of capital into top banks

Funding for the first such intervention since the 2008 financial crisis would mainly come from new special sovereign bonds, sources say.

Banking & finance

Will new policy encourage Chinese banks to invest in struggling start-ups?

Beijing’s encouragement for banks to boost investment in unlisted companies is a big move in the effort to support start-ups, analysts say.

Banking & finance

State-owned banks face thinner margins amid Beijing’s call to support economy

At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.

videocam
An advertisement displaying the interest rate for loans at a branch of the Industrial and Commercial Bank of China in Chengdu, capital of southwestern Sichuan province. Photo: Bloomberg
Banking & finance

Saudi Arabia wealth fund signs US$50 billion deals with 6 Chinese institutions

Agreements with top financial institutions including BOC, CCB and ICBC aim to promote two-way capital flows through both debt and equity, Public Investment Fund says.

PIF has signed six memorandums of understanding (MoUs) worth up to $50 billion with leading Chinese financial institutions. Photo: PIF
Banking & finance

Exclusive | Wealth Management Connect revamp sent investment skyrocketing, says ICBC

Improvements to the Wealth Management Connect scheme in February have proven to be a game-changer, with investment via the cross-border trading channel quadrupling between January and April, according to government data and ICBC.

videocam
Banking & finance

Chinese banks could improve their bottom lines with AI adoption, experts say

AI could lift Chinese banks’ fee-based income to as much as 40 per cent from 30 per cent currently, Asian Banker founder Emmanuel Daniel says.

videocam
Advertisement
Advertisement
Advertisement
Banking & finance

Singapore’s sovereign wealth fund trims stake in China’s biggest lender ICBC

Temasek Holdings, Singapore’s sovereign wealth fund, cut its stake in the Industrial and Commercial Bank of China (ICBC) twice in one day last week, reducing its share of the lender to less than 5 per cent.

The state investor reported a 5.2 per cent drop in its net portfolio value to US$283.4 billion in the financial year ended March 2023. Photo: Shutterstock
Banking & finance

China’s banks to sell US$60 billion of loss-absorbing bonds to meet PBOC’s norms

ICBC and BOC line up issuance plans for 60 billion yuan worth of total loss-absorbing capacity (TLAC) bonds as Chinese G-SIBs (global systemically important banks) are expected to sell 440 billion yuan of these newly introduced bonds.

Banking & finance

China’s ICBC, Agricultural Bank post profit drops on margin squeeze

The government may press state banks to continue cutting lending rates, further eroding their margins, analyst says.

Banking & finance

Fitch cuts outlook for China’s state-owned banks from stable to negative

The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.

videocam
Fitch said the current size of China’s banking system limits the amount of support the central government could give to its biggest lenders. Photo: Reuters
Banking & finance

Bocom posts slight rise in profits and points to improving asset quality

Bocom paints resilient picture for year ahead despite posting slower profit growth and warning about challenges from property sector.

Bocom delivered a relatively upbeat outlook despite posting slow earnings growth. Photo: Reuters
China property

China Vanke gets US$194 million loan from Industrial Bank in temporary relief

A loan for China Vanke, one of China’s largest developers, could provide temporary relief to a sector rocked by defaults and by a court order for the liquidation of China Evergrande Group, the world’s most indebted developer.

Banking & finance

Exclusive | ICBC Asia to combat fraud by doubling down on AI amid rise in scams

ICBC Asia, the Hong Kong unit of Industrial and Commercial Bank of China, the country’s largest lender, will continue to use technology such as artificial intelligence to prevent and investigate fraud.

videocam
Banking & finance

China’s Year of the Dragon banknotes, coins set to profit resellers on Taobao

Some of the 3.2 billion yuan (US$450 million) worth of commemorative coins and banknotes issued by China’s central bank may deliver handsome profits for resellers on popular local e-commerce platforms.

videocam
The People’s Bank of China unveiled a set of special gold, silver and copper alloy coins in December, alongside a 20-yuan banknote, to usher in the year of the dragon. Photo: Weibo
Banking & finance

ICBC chairman resigns as Chinese banks’ leadership changes mount

The world’s third-largest lender by market capitalisation has announced a key change at the top, the latest in a slew of leadership reshuffles in the country’s banking sector this year.

The world’s third-largest lender by market capitalisation has announced a key change at the top, the latest in a slew of leadership reshuffles in the country’s banking sector this year. Photo: Bloomberg
US-China relations

US Fed fines Industrial and Commercial Bank of China for bank secrecy lapses

In addition to the US$2.43 million fine, ICBC was hit with a US$30 million penalty in New York.

4
US-China relations

‘White House for sale’: Trump earned millions from China, report says

Democrats on oversight committee release findings after multi-year investigation, accusing 2024 Republican front-runner of violating US Constitution.

videocam
29
Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement