|Bid||0.000 x 0|
|Ask||0.000 x 0|
|Day's Range||6.330 - 6.400|
|52 Week Range||4.830 - 7.640|
|PE Ratio (TTM)||6.68|
|Forward Dividend & Yield||0.30 (4.60%)|
|1y Target Est||8.64|
, which is battling a shareholder attempt to remove its board, has agreed to provide a last minute bridge loan to a Hong Kong iron ore company in which it owns a 31 per cent stake. The London-listed company said it would provide $29.75m to IRC to enable it to meet a June payment on a loan to ICBC, which was used to fund a mine near the border of China. Petropavlovsk also said it is in “advanced” talks with a major Russian bank to refinance the entire $340m project loan.
SHANGHAI (Reuters) - Global market research and index company MSCI Inc will add roughly 230 China-listed shares to its emerging market benchmark in a two-step process starting on June 1, a move expected ...
Sino Land, China Overseas Land & Investment, and Industrial and Commercial Bank of China have one big thing in common. They are on my list of the best dividend stocksRead More...
Over the past 10 years Industrial and Commercial Bank of China Limited (SEHK:1398) has grown its dividend payouts from CN¥0.15 to CN¥0.3. With a market cap of HK$2.60T, Industrial andRead More...
Industrial and Commercial Bank of China Financial Services agreed to pay $5.3 million on Wednesday to settle charges by the Financial Industry Regulatory Authority that it did not have adequate anti-money laundering systems in place to monitor and detect suspicious transactions. In a separate matter, the U.S. Securities and Exchange Commission said on Wednesday that ICBC's financial services unit agreed to pay an $860,000 fine for problems also related to its anti-money laundering policies, including failing to file suspicious activity reports. The actions by FINRA and the SEC are the latest in a string of regulatory probes or fines by U.S. and European regulators over anti money-laundering and know-your-customer controls by Chinese banks.
The U.S. Securities and Exchange Commission said on Wednesday that Chardan Capital Markets and Industrial and Commercial Bank of China Financial Services have settled charges that they failed to report suspicious sales of billions of penny stock shares. Chardan will pay a $1 million penalty as part of its settlement, while ICBCFS, a unit of Industrial and Commercial Bank of China Ltd will pay $860,000, the SEC said. The agency said it found that Chardan's anti-money laundering official, Jerard Basmagy, caused the firm's violations.
Global market research and index company MSCI Inc said on Tuesday it would add 234 China-listed shares to its emerging market benchmark in a two-step process in June and September, a move expected to drive a surge of foreign inflows into the country's stock markets. While some foreign investors are still haunted by memories of China's 2015 stock market crash and concerns about Sino-U.S. trade frictions, a deeper fear of missing out is widely expected to boost overseas investments in mainland stocks. MSCI's decision last June to include yuan-denominated Chinese stocks, known as "A-shares", into its emerging market (EM) index triggered a rally in Chinese blue-chips in 2017, though the market has corrected this year amid fears that a trade war will undermine the world's second-largest economy.
LONDON/FRANKFURT (Reuters) - Germany's No.2 lender DZ Bank plans to sell certain assets of its troubled ship and aircraft financing division DVB after receiving muted interest for the whole business, four sources familiar with the matter said. The sources, who declined to be identified due to the sensitivity of the matter, said DZ Bank, which is also the umbrella organisation of German cooperative bank chain Raiffeisen-Volksbanken, would start by selling DVB's aviation and land transport finance portfolios, followed by its shipping and offshore portfolios. Two of the sources said asset managers Apollo Global Management (APO.N) and Cerberus Capital Management were interested in the aviation segment.
Spain's Caixabank on Thursday denied any collaboration or participation in money laundering activities related to a case against China's ICBC . Spain's High Court had previously placed Caixabank under ...
The Japanese Bankers Association (JBA) and the China Banking Association (CBA) have joined forces to challenge proposed European Union regulations aimed at policing possible market risk posed by foreign lenders doing business in the bloc. In a letter to the European Commission seen by Reuters, the JBA and CBA - which represent hundreds of lenders from both Asian economic powerhouses - said a draft proposal to compel foreign banks to bring EU operations under a single holding company threatened the commercial viability of their activities in the region.
BEIJING/SHANGHAI (Reuters) - China's top lenders are reporting their best profit growth in three years on better net interest margins, with Beijing's crackdown on shadow financing and high leverage expected to further drive recovery this year. The strong 2017 results suggest that Beijing has been successful in pushing smaller lenders to cut their exposure to riskier financing practices - in turn helping reduce competition for the state-backed behemoths. "The banks that will do well this year are those that have national franchises, "safe" brands, relatively clean balance sheets, competitive products, sticky core deposits and strong credit skills," said John Ott, partner with Bain & Company and a leader with its Greater China financial services practice.
China’s biggest banks are set for a boost in valuations as analysts expect a strengthening economy will fuel loan demand and margins.
BEIJING/SHANGHAI (Reuters) - Chinese banks are set to quicken the pace of bad loan disposals this year, likely raising more capital and taking advantage of relaxed provisioning rules as they look to lift what is expected to be a modest year of earnings growth in 2017. Among those due to report annual earnings next week are Industrial and Commercial Bank of China (ICBC), China Construction Bank , Agricultural Bank of China (AgBank) (1288.HK), and Bank of China (BoC) (3988.HK). Annual profits for the 12-months to Dec. 31 are expected to have risen between 2.4 percent to 4.9 percent for China's biggest four banks, according to analysts surveyed by Thomson Reuters, helped by steadying interest margins.
WASHINGTON (Reuters) - The Federal Reserve on Tuesday faulted the Industrial and Commercial Bank of China Ltd for not having enough anti-money laundering protections and ordered the bank to toughen its ...
The five banks that settle every transaction in London's $6.8 trillion (4.9 trillion pounds) a year gold market are changing the rules of their clearing house to make it easier for newcomers to join. As that pressure increased, the number of banks clearing gold transactions through a company they own called the London Precious Metals Clearing Limited (LPMCL) has dwindled from seven to five. ICBC Standard joined in 2016 after months of wrangling over conditions and an application from at least one other, Goldman Sachs (GS.N), was declined, sources in LPMCL member banks said.
As a HK$2.80T market capitalisation company operating in the financial services sector, Industrial and Commercial Bank of China Limited (SEHK:1398) has benefited from strong economic growth and improved credit qualityRead More...
Bank of China is one of companies on my list of top dividend stocks. Dividend stocks are a safe bet to increase your portfolio value as they provide both steadyRead More...
LONDON/FRANKFURT (Reuters) - Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) are among suitors looking at a potential purchase of German transport finance lender DVB Bank, three sources familiar with the matter say. The preliminary interest by two of China's leading lenders follows a wider push by Chinese companies to scoop up assets in Europe, especially in Germany. In December, sources told Reuters that German cooperative lender DZ Bank [DETGNY.UL] was moving ahead with plans to sell its subsidiary DVB, which finances ships, aircraft, offshore oil rigs and the rail industry.
Feb 5 (Reuters) - Shanghai Stock Exchange: * FILING SHOWS BLOCK TRADE OF ICBC'S 14.3 MILLION A-SHARES INVOLVING 99.96 MILLION YUAN ON FEB 5 Source text in Chinese: http://bit.ly/2yJZikT Further company ...
China's banking regulator has imposed fines of 52.5 million yuan (£5.9 million) on 19 banks in the northwestern province of Shaanxi and the central province of Henan over a 19-billion-yuan (£2.1 billion) pledged loan fraud, it said on Friday. It is the third major penalty handed down since the start of the year as the regulator steps up a crackdown on illegal practices to fend off financial risk. Criminals illegally pledged gold of low purity to obtain loans from banks, including branches of large state lenders Industrial and Commercial Bank of China Ltd (1398.HK) and Postal Savings Bank of China Co , the regulator said.
HNA Group chairman Chen Feng has expressed confidence that China's aviation-to-financial services conglomerate will manage its cash crunch, and continue to receive support from banks and other financial institutions this year. The liquidity problem exists "because we made a big number of mergers", even as the external environment became more challenging and China's economy "transitioned from rapid to moderate growth", impacting the group's access to new financing, Chen told Reuters in a rare meeting. "Rate hikes by the Federal Reserve and deleveraging in China caused a liquidity shortage at the end of the year for many Chinese enterprises," Chen said.
Dec 22 (Reuters) - Xinjiang Beixin Road & Bridge Group Co Ltd: * SAYS IT PLANS TO SET UP FINANCING JV WITH ICBC'S INVESTMENT MANAGEMENT AFFILIATE WITH TOTAL INVESTMENT OF 2.2 BILLION YUAN Source text in ...