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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 2018 HKDUSD
Revenue1,359.81B173,500.06M
Gross Profit----
Operating income435,154.14M55,521.73M
Income before tax437,447.24M55,814.31M
Net income352,583.49M44,986.46M
EBITDA----
Diluted EPS0.970.12
Dividends Per Share0.280.03
Total Assets31,587.36B4,034.48B
Total liabilities28,920.97B3,693.91B
Total equity2,649.42B338,395.95M
Operating cash flow485,871.27M61,992.78M
Currency in HKDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 1,282.11B 1,319.04B 1,177.94B 1,235.24B 1,359.81B
Gross Profit -- -- -- -- --
Operating income 450,933.63M 442,480.35M 420,107.21M 415,548.30M 435,154.14M
Income before tax 452,384.71M 445,169.34M 421,419.34M 417,061.15M 437,447.24M
Net income 347,116.27M 341,835.73M 325,111.28M 329,839.35M 352,583.49M
EBITDA -- -- -- -- --
Diluted EPS 0.98 0.95 0.89 0.91 0.97
Dividends Per Share 0.32 0.27 0.26 0.28 0.28
Total Assets 25,761.94B 26,507.50B 26,928.53B 31,316.06B 31,587.36B
Total liabilities 23,840.35B 24,358.57B 24,725.71B 28,753.86B 28,920.97B
Total equity 1,913.53B 2,135.74B 2,190.08B 2,545.92B 2,649.42B
Operating cash flow 469,413.88M 259,061.77M 496,520.61M 623,928.40M 485,871.27M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 165,334.22M 170,143.46M 151,749.08M 158,510.92M 173,500.06M
Gross Profit -- -- -- -- --
Operating income 58,149.85M 57,075.28M 54,120.39M 53,324.53M 55,521.73M
Income before tax 58,336.97M 57,422.13M 54,289.42M 53,518.66M 55,814.31M
Net income 44,762.15M 44,093.19M 41,882.52M 42,326.07M 44,986.46M
EBITDA -- -- -- -- --
Diluted EPS 0.12 0.12 0.11 0.11 0.12
Dividends Per Share 0.04 0.03 0.03 0.03 0.03
Total Assets 3,322.04B 3,420.25B 3,473.23B 4,005.99B 4,034.48B
Total liabilities 3,074.25B 3,142.98B 3,189.11B 3,678.23B 3,693.91B
Total equity 246,753.55M 275,575.00M 282,477.15M 325,677.97M 338,395.95M
Operating cash flow 60,532.96M 33,416.23M 63,964.36M 80,064.55M 61,992.78M

Valuation Measures

Dec 2018
PER5.03
ROA1.12%
ROE13.57%
Operating margin32.00%
Profit margin25.92%

Key executives

  • Vice Chairman, President & General Manager: Shu Gu
  • General Manager-Finance & Accounting: Wen Wu Zhang
  • Senior Executive Vice President: Lin Liao
  • Chief Risk Officer: Bai Rong Wang
  • Deputy Secretary & Deputy Director: Jun Lin

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%)
  • Hang Seng Investment Management Ltd. (0.8%)
  • Fidelity Management & Research Co. LLC (0.8%)
  • State Street Global Advisors Asia Ltd. (0.7%)
  • Dimensional Fund Advisors LP (0.6%)

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 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)
  • ICBC Ltd. (Nanjing Xiaguan Branch)
  • Industrial & Commercial Bank of China Ltd. Peking
  • Zhejiang Pinghu ICBC Rural Bank Co., Ltd.
  • Chongqing Bishan ICBC Rural Bank Co., Ltd.
  • ICBC Austria Bank GmbH
  • Landmark Funding 2015 Ltd.
  • Industrial & Commercial Bank of China Luzhou Branch
  • Gongyuan Npa Series 2017-7
  • ICBC Financial Asset Investment Co., Ltd.
  • ICBC Asset Management Scheme Nominee
  • Industrial & Commercial Bank of China Jiangxi
  • ICBC Turkey Yatirim Menkul Degerler AS
  • Industrial & Commercial Bank of China Ltd. (Daqing Branch)
  • Industrial & Commercial Bank of China Ltd. (Jianghan Branch)
  • Wuhan East Lake Development Zone
  • ICBC-AXA Life Insurance Co., Ltd.
  • Industrial & Commercial Bank of China Ltd. /Liupanshui Branch/
  • Industrial & Commercial Bank of China /Shunde Branch/
  • Pingan Life Accompany Enterrise Pension Plan
  • Industrial & Commercial Bank of China Ltd. /Busan Branch/
  • ICBC Peru Bank SA
  • Industrial & Commercial Bank of China Ltd. (Kuwait)
  • Industrial & Commercial Bank of China Ltd. (Riyadh)
  • Industrial & Commercial Bank of China Mexico SA
  • Industrial & Commercial Bank of China (Hebei Branch)
  • Industrial & Commercial Bank of China (Pakistan)

Competitors

  • Kasikornbank Public Co. Ltd.
  • Grupo Financiero Galicia SA Class B
  • Grupo Supervielle SA Class B
  • Haitong UniTrust International Leasing Co., Ltd. Class H
  • Aircastle Limited
  • Fly Leasing Limited Sponsored ADR
  • Chorus Aviation Inc.
Last Updated on 27 Mar, 2020

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