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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 issues 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 2019 HKDUSD
Revenue1,439.03B183,662.90M
Gross Profit----
Operating income439,965.26M56,152.41M
Income before tax441,398.53M56,335.33M
Net income354,035.93M45,185.32M
EBITDA----
Diluted EPS0.970.12
Dividends Per Share0.280.03
Total Assets33,680.27B4,322.52B
Total liabilities30,758.48B3,947.54B
Total equity2,904.09B372,711.86M
Operating cash flow663,889.95M84,731.73M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 1,319.04B 1,177.94B 1,235.24B 1,359.81B 1,439.03B
Gross Profit -- -- -- -- --
Operating income 442,480.35M 420,107.21M 415,548.30M 435,154.14M 439,965.26M
Income before tax 445,169.34M 421,419.34M 417,061.15M 437,447.24M 441,398.53M
Net income 341,835.73M 325,111.28M 329,839.35M 352,583.49M 354,035.93M
EBITDA -- -- -- -- --
Diluted EPS 0.95 0.89 0.91 0.97 0.97
Dividends Per Share 0.27 0.26 0.28 0.28 0.28
Total Assets 26,507.50B 26,928.53B 31,316.06B 31,587.36B 33,680.27B
Total liabilities 24,358.57B 24,725.71B 28,753.86B 28,920.97B 30,758.48B
Total equity 2,135.74B 2,190.08B 2,545.92B 2,649.42B 2,904.09B
Operating cash flow 259,061.77M 496,520.61M 623,928.40M 485,871.27M 663,889.95M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 170,143.46M 151,749.08M 158,510.92M 173,500.06M 183,662.90M
Gross Profit -- -- -- -- --
Operating income 57,075.28M 54,120.39M 53,324.53M 55,521.73M 56,152.41M
Income before tax 57,422.13M 54,289.42M 53,518.66M 55,814.31M 56,335.33M
Net income 44,093.19M 41,882.52M 42,326.07M 44,986.46M 45,185.32M
EBITDA -- -- -- -- --
Diluted EPS 0.12 0.11 0.11 0.12 0.12
Dividends Per Share 0.03 0.03 0.03 0.03 0.03
Total Assets 3,420.25B 3,473.23B 4,005.99B 4,034.48B 4,322.52B
Total liabilities 3,142.98B 3,189.11B 3,678.23B 3,693.91B 3,947.54B
Total equity 275,575.00M 282,477.15M 325,677.97M 338,395.95M 372,711.86M
Operating cash flow 33,416.23M 63,964.36M 80,064.55M 61,992.78M 84,731.73M

Valuation Measures

Dec 2019
PER5.47
ROA1.08%
ROE12.74%
Operating margin30.57%
Profit margin24.60%

Key executives

  • Vice Chairman, President & General Manager: Shu Gu
  • General Manager-Finance & Accounting: Wen Wu Zhang
  • Senior Executive VP & Chief Risk Officer: Lin Liao
  • Chief Business Officer: Bai Rong Wang
  • Chief Business Officer: Jian Hua Song

Shareholders

  • Ping An Insurance (Group) Co. of China Ltd. (14.0%)
  • National Council for Social Security Fund (9.2%)
  • Temasek Holdings Pte Ltd. (Investment Management) (8.4%)
  • The Vanguard Group, Inc. (3.2%)
  • BlackRock Fund Advisors (2.0%)
  • Norges Bank Investment Management (1.2%)
  • Fidelity Management & Research Co. LLC (0.9%)
  • Hang Seng Investment Management Ltd. (0.8%)
  • State Street Global Advisors Asia Ltd. (0.8%)
  • Dimensional Fund Advisors LP (0.8%)

Contact Details

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

Related Companies

  • Industrial & Commercial Bank of China /Liaoning Branch/
  • Industrial & Commercial Bank of China Ltd. (Luxembourg Branch)
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  • ICBC Industrial & Commercial Bank of China (Nanfeng Branch)
  • ICBC Ltd. (Nanjing Xiaguan Branch)
  • Industrial & Commercial Bank of China Ltd. Peking
  • Zhejiang Pinghu ICBC Rural Bank Co., Ltd.
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  • Landmark Funding 2015 Ltd.
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  • Gongyuan Npa Series 2017-7
  • ICBC Financial Asset Investment Co., Ltd.
  • ICBC Asset Management Scheme Nominee
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  • ICBC Peru Bank SA
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Competitors

  • Grupo Financiero Galicia SA Class B
  • Kasikornbank Public Co. Ltd.
  • Grupo Supervielle SA Class B
  • Fly Leasing Limited Sponsored ADR
  • Chorus Aviation Inc.
Last Updated on 2 Jun, 2020

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