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Last $6.75 HKD
Change Today +0.02 / 0.30%
Volume 492.1M
As of 4:01 AM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

ind & comm bk of china-h (1398) Snapshot

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04/17/15 - $7.10
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10/3/14 - $4.74
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ind & comm bk of china-h (1398) Details

Industrial and Commercial Bank of China Limited provides various financial products and services worldwide. It operates through Corporate Banking, Personal Banking, Treasury Operations, and Others segments. The Corporate Banking segment offers financial products and services to corporations, government agencies, and financial institutions. This segment’s products and services include corporate loans, trade financing, deposit-taking, corporate wealth management, custody activities, and various corporate intermediary services. The Personal Banking segment provides personal loans and cards, deposit-taking, personal wealth management, and personal intermediary services to individual customers. The Treasury Operations segment is involved in the money market transactions, investment securities, and foreign exchange transactions, as well as holding of derivative positions. The Others segment offers insurance and leasing services. The company also offers e-banking services, including Internet, telephone, mobile, and self-service banking services. Its distribution network consists of approximately 17,122 domestic institutions and 338 overseas institutions, as well as approximately 2,007 correspondent banks. The company was formerly known as Industrial and Commercial Bank of China. Industrial and Commercial Bank of China Limited was founded in 1984 and is based in Beijing, the People's Republic of China.

462,282 Employees
Last Reported Date: 04/21/15
Founded in 1984

ind & comm bk of china-h (1398) Top Compensated Officers

Vice Chairman, President, Member of Nominatio...
Total Annual Compensation: CNY840.0K
Executive Chairman and Chairman of Strategy C...
Total Annual Compensation: CNY874.0K
Compensation as of Fiscal Year 2014.

ind & comm bk of china-h (1398) Key Developments

ICBC Launches Operation in Turkey

ICBC Bank has announced that it has launched operations in Turkey. Industrial and Commercial Bank of China Limited (ICBC) launched its operation after acquiring a 75.5% stake in Tekstilbank from Turkish GSD Holding. The bank has become the first business institution operated in Turkey by a Chinese bank. The bank announced, 'The acquisition of Tekstilbank further complements ICBC's international footprint. The transaction will also enhance ICBC's service capability for customers from both countries, thereby promoting local economic development. ICBC has established a global network of approximately 400 overseas institutions providing superior services to 42 countries and regions. In addition, ICBC has coverage of 20 African countries through its 20% strategic equity investment in Standard Bank of South Africa.

HSBC Holdings Reportedly Mulls Sale of Brazilian Unit

HSBC Holdings plc (LSE:HSBA) reportedly will probably select a preferred bidder for its unprofitable Brazilian unit as early as mid-June in a sale that may raise about $4 billion, said two people with knowledge of the plan. Banks interested in the operation include Brazil’s Banco Bradesco S.A. (BOVESPA:BBDC4) and BTG Pactual Group, Spain’s Banco Santander (Brasil) S.A. (BOVESPA:SANB4)and The Bank of Nova Scotia (TSX:BNS) from Canada, said the people, who asked not to be identified because the details are private. Industrial and Commercial Bank of China Limited (SEHK:1398) and China Construction Bank Corporation (SEHK:939) are also assessing the deal, one person said. “We have the obligation to look at it, because it is a very important transaction for the Brazilian financial system, but honestly, we are very happy with the platform we have,” said Joao Dantas, head of investor relations for Banco BTG Pactual. “We have about 3,500 employees and HSBC has more than 20,000 workers and the retail business is not our priority,” said Joao Dantas. Goldman Sachs Group Inc. is managing the sale, the people said. Officials at HSBC, Goldman Sachs, Santander, Bank of Nova Scotia, Bradesco and ICBC declined to comment.

Industrial and Commercial Bank of China Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Industrial and Commercial Bank of China announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net profit grew 1.36% year on year to RMB 74.46 billion against RMB 73,461 million a year ago. Basic and diluted earnings per share were at RMB 0.21, which remained unchanged as compared to it realized in the same period of last year. Operation revenue gained 5.70% than a year earlier to RMB 165.81 billion. The company realized RMB 125.28 billion in net interest income against RMB 115,825 million ayear ago, up 8.17% year on year, while net fee and commission income edged down 1.25% year on year to RMB 37.21 billion in the period. Operating income was RMB 165,808 million against RMB 156,863 million a year ago. Weighted average return on net assets was 19.35%. Return on weighted average equity was 19.35% against 22.27% a year ago. Net profit attributable to equity holders of the parent company was RMB 74,324 million against RMB 73,302 million a year ago. Net cash flows from operating activities was RMB 518,295 million against RMB 247,991 million a year ago. Operating profit was RMB 96,148 million against RMB 95,159 million a year ago. Profit before taxation was RMB 97,019 million against RMB 95,657 million a year ago. Purchases of property and equipment and other assets was RMB 3,460 million against RMB 7,771 million a year ago.


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Valuation 1398 Industry Range
Price/Earnings 6.5x
Price/Sales 3.1x
Price/Book 1.1x
Price/Cash Flow 4.9x
TEV/Sales NM Not Meaningful

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