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Finance

Industrial & Commercial Bank of China Ltd.

Company Background

Industrial and Commercial Bank of China (ICBC) is China's largest bank. Established in 1984, ICBC is one of China's four biggest state-owned commercial banks, alongside China Construction Bank, Agricultural Bank of China and Bank of China. ICBC was simultaneously listed on both the Hong Kong Exchange and the Shanghai Stock Exchange on Oct. 27, 2006.

As of the end of 2014, ICBC had 5.09 million corporate customers and 465 million retail customers. In addition to its 17,000 domestic branches, it has branches in 41 countries.

ICBC is also focusing on Internet banking. It has strong earning capacity, thanks to its vast customer base and the country's regulated bank deposit rates. ICBC and U.S. bank Wells Fargo are competing head to head for the world's top bank in terms of market capitalization.

Its revenue mainly comes from its domestic branches. Its subsidiaries include a leasing company as well as an asset management company and an insurer that establish joint ventures with foreign companies. ICBC has also expanded into global markets through acquisitions and other means. It aims to become a global titan on par with financial groups like JPMorgan Chase and Citigroup of the U.S.

Business Summary

Industrial & Commercial Bank of China Ltd. engages in the provision of commercial banking and financial services. It operates through the following business segments: Corporate Banking, Personal Banking, Treasury Operations, and Others. The Corporate Banking segment provides corporate loans, trade financing, deposit-taking activities, corporate wealth management services, custody activities, and various types of corporate intermediary services to corporations, government agencies and financial institutions. The Personal Banking segment offers personal loans, deposit-taking activities, card business, personal wealth management services, and various types of personal intermediary services to individual customers. The Treasury Operations segment covers money market transactions, investment securities, foreign exchange transactions and the holding of derivative positions, for its own account or on behalf of customers. The Others segment includes assets, liabilities, income, and expenses that cannot be allocated to a segment. The company was founded on January 1, 1984 and is headquartered in Beijing, China.

Financial Highlights

Dec 2021 HKDUSD
Revenue1,682.04B216,400.60M
Gross Profit----
Operating income506,005.40M65,099.19M
Income before tax508,635.17M65,437.51M
Net income419,820.77M54,011.26M
EBITDA----
Diluted EPS1.140.14
Dividends Per Share0.340.04
Total Assets43,023.94B5,518.50B
Total liabilities39,286.20B5,039.08B
Total equity3,716.32B476,678.37M
Operating cash flow963,023.81M123,896.05M
Currency in HKDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 1,235.24B 1,359.81B 1,438.73B 1,466.19B 1,682.04B
Gross Profit -- -- -- -- --
Operating income 415,548.30M 435,154.14M 439,965.26M 437,677.44M 506,005.40M
Income before tax 417,061.15M 437,447.24M 441,398.53M 439,164.08M 508,635.17M
Net income 329,839.35M 352,583.49M 354,035.93M 354,981.47M 419,820.77M
EBITDA -- -- -- -- --
Diluted EPS 0.79 0.82 0.97 0.96 1.14
Dividends Per Share 0.28 0.28 0.28 0.31 0.34
Total Assets 31,316.06B 31,587.36B 33,680.27B 39,535.24B 43,023.94B
Total liabilities 28,753.86B 28,920.97B 30,765.95B 36,188.35B 39,286.20B
Total equity 2,545.92B 2,649.42B 2,896.62B 3,327.90B 3,716.32B
Operating cash flow 623,928.40M 485,871.27M 663,889.95M 592,877.47M 963,023.81M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 158,510.92M 173,500.06M 183,624.69M 189,040.66M 216,400.60M
Gross Profit -- -- -- -- --
Operating income 53,324.53M 55,521.73M 56,152.41M 56,430.85M 65,099.19M
Income before tax 53,518.66M 55,814.31M 56,335.33M 56,622.53M 65,437.51M
Net income 42,326.07M 44,986.46M 45,185.32M 45,768.65M 54,011.26M
EBITDA -- -- -- -- --
Diluted EPS 0.10 0.10 0.12 0.12 0.14
Dividends Per Share 0.03 0.03 0.03 0.04 0.04
Total Assets 4,005.99B 4,034.48B 4,322.52B 5,098.78B 5,518.50B
Total liabilities 3,678.23B 3,693.91B 3,948.50B 4,667.14B 5,039.08B
Total equity 325,677.97M 338,395.95M 371,753.45M 429,193.41M 476,678.37M
Operating cash flow 80,064.55M 61,992.78M 84,731.73M 76,441.18M 123,896.05M

Valuation Measures

Dec 2021
PER3.14
ROA1.01%
ROE11.91%
Operating margin30.08%
Profit margin24.95%

Key executives

  • Vice Chairman & President: Lin Liao
  • Senior Executive VP, GM-Finance & Accounting: Wen Wu Zhang
  • Member-Supervisory Board: Xiang Jiang Wu
  • Senior Executive Vice President: Wei Wu Zhang
  • Executive Director & Vice President: Guo Yu Zheng

Shareholders

  • Ping An Insurance (Group) Co. of China Ltd. (14.0%)
  • National Council for Social Security Fund (9.1%)
  • Temasek Holdings Pte Ltd. (Investment Management) (8.4%)
  • China Life Insurance Co. Ltd. (4.6%)
  • The Vanguard Group, Inc. (2.8%)
  • BlackRock Fund Advisors (1.9%)
  • Norges Bank Investment Management (1.2%)
  • State Street Global Advisors Asia Ltd. (0.8%)
  • Dimensional Fund Advisors LP (0.6%)
  • Hang Seng Investment Management Ltd. (0.5%)

Contact Details

  • Website:http://www.icbc-ltd.com
  • Address: No. 55 Fuxingmennei Avenue, Xicheng District, Beijing, 100140, China
  • Phone: +86.10.6610.6114

Related Companies

  • Industrial & Commercial Bank of China Ltd. (Panama)
  • Industrial & Commercial Bank of China Ltd., Beijing, Zurich
  • Industrial & Commercial Bank of China (Baoding Branch)
  • Industrial & Commercial Bank of China Ltd. (Sichuan)
  • Industrial & Commercial Bank of China (Xiaguan Branch)
  • Industrial & Commercial Bank of China (Qinhuangdao)
  • ICBC Deyang Jingyang Branch
  • Industrial & Commercial Bank of China /Liaoning Branch/
  • Industrial & Commercial Bank of China Shantou Branch
  • Industrial & Commercial Bank of China /Yangpu Branch/
  • ICBC Wealth Management Co., Ltd.
  • Industrial & Commercial Bank of China Ltd. (Luxembourg Branch)
  • Industrial & Commercial Bank of China, Qingdao Chengyang bra
  • Industrial & Commercial Bank of China Corp. Changjiang Branch
  • ICBC Industrial & Commercial Bank of China (Nanfeng Branch)
  • Industrial & Commercial Bank of China (Anshun Branch)
  • Industrial & Commercial Bank of China (Heilongjiang)
  • ICBC Ltd. (Nanjing Xiaguan Branch)
  • Industrial & Commercial Bank of China Ltd. Peking
  • Industrial & Commercial Bank of China /Weihai/
  • Industrial & Commercial Bank of China (Zhuhai)
  • Zhejiang Pinghu ICBC Rural Bank Co., Ltd.
  • Chongqing Bishan ICBC Rural Bank Co., Ltd.
  • ICBC Austria Bank GmbH
  • Industrial & Commercial Bank of China /Sichuan Branch/
  • Industrial & Commercial Bank of China (Luzhou Branch)
  • Industrial & Commercial Bank of China (Guangyuan Branch)
  • Industrial & Commercial Bank of China (Neijiang Branch)
  • Industrial & Commercial Bank of China /Wuhu/
  • Industrial & Commercial Bank of China /Fuyang/

Competitors

  • Kasikornbank Public Co. Ltd.
  • Grupo Supervielle SA Class B
  • CIMB Thai Bank Public Co. Ltd.
  • Banco Macro SA Class B
Last Updated on 18 Aug, 2022

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