|Bid||5.150 x 0|
|Ask||5.160 x 0|
|Day's Range||5.140 - 5.250|
|52 Week Range||5.110 - 7.640|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||5.45|
|Forward Dividend & Yield||0.29 (5.50%)|
|1y Target Est||7.91|
A selloff in global stocks tore like a wrecking ball through emerging equities on Thursday with the key index flirting with its biggest daily tumble since the surprise Brexit vote stunned markets in June 2016. The emerging benchmark is now falling deeper into bear market territory - defined as peak-to-trough losses of more than 20 percent - after first cracking that milestone in August. Translating this into the index's market cap, the MSCI benchmark has lost some $1.1 trillion or more than 18 percent of its value - more than double the drop in value global stocks have suffered.
In what’s set to be an even bigger demonstration of China’s pull in the international bond market, initial signs showed little hit to buyer sentiment from the biggest sell-off in world stocks since February and a retreat from credit and emerging markets. China is selling $1.5 billion of five-year notes at 30 basis points over Treasuries, while the size for the 10-year notes was set at $1 billion at a spread of 45 basis points, according to people familiar with the deal who asked not to be identified. The debut 30-year offering will be $500 million at 70 basis points over Treasuries.
Sept 20 (Reuters) - Yiwu Huading Nylon Co Ltd: * SAYS PORTFOLIO MANAGED BY ICBC CREDIT SUISSE AGREES TO SELL 6.02 PERCENT STAKE IN THE COMPANY FOR 416.7 MILLION YUAN($60.82 million) Source text in Chinese: ...
Sept 13 (Reuters) - LINEDATA SERVICES SA: * ICBC ASSET MANAGEMENT (GLOBAL) CHOOSES CO FOR ITS INVESTMENT SOLUTIONS Source text: https://bit.ly/2x70PhU Further company coverage: (Gdynia Newsroom)
BEIJING—Industrial & Commercial Bank of China, the world’s biggest bank by assets, is also China’s most profitable, with a boost from a government campaign to discourage risky lending. First-half net income was up 4.9% from a year earlier, to 160.44 billion yuan ($23.5 billion), state-owned ICBC reported Thursday. Net interest income—the difference between what it pays and earns in interest, which accounts for most of ICBC’s operating income—came to 277.62 billion yuan, a rise of 11%, nearly double the pace of a year earlier.
SHANGHAI/BEIJING (Reuters) - Industrial and Commercial Bank of China, the world's largest commercial bank, joined its peers in reporting higher first-half profit and a steady bad loan ratio, but flagged trade tensions as a risk to economy. ICBC, like other big state-owned banks, has been seeing a rebound in business with its diverse revenue sources and strong capital buffers giving it an edge over smaller peers as China cracks down on risk in the broader financial sector. The bank will conduct stress tests on clients hit by trade tensions and provide financing to alleviate any temporary difficulties, he told a news conference on Thursday.
Industrial & Commercial Bank of China Ltd. posted its fastest profit growth since September 2014 as margins and asset quality improved, but flagged challenging times ahead as the trade war with the U.S. intensifies. Net income at the world’s largest lender by assets rose 5.8 percent to 81.6 billion yuan ($11.9 billion) in the quarter ended June from a year earlier, according to an exchange filing Thursday, broadly in line with estimates. China’s five biggest banks have all reported profit growth of at least 5 percent for the latest quarter, and escaped the surge in bad loans that swamped smaller lenders.
Industrial and Commercial Bank of China Limited (HKG:1398) is a stock with outstanding fundamental characteristics. When we build an investment case, we need to look at the stock with aRead More...
SHANGHAI/HONG KONG (Reuters) - China's biggest listed state-owned lenders are expected to post modestly higher profits and steady margins for the six months ended June, as government efforts to boost spending and liquidity underpins loan growth. Beijing has been pumping funds into the banking system and rolling out support measures for local businesses to cushion the impact from an escalating trade war with the United States. Indications on future trends are expected to emerge over the coming weeks as the country's top banks - Industrial and Commercial Bank of China , China Construction Bank Corp , Agricultural Bank of China , Bank of China and Bank of Communications Co Ltd - unveil their January-June results.
China's ICBC Leasing has emerged as the major financier behind a provisional $8.8 billion order at list prices for 80 Airbus A320neo single-aisle jets, a person familiar with the matter said. Airbus reported ...
FARNBOROUGH, England (Reuters) - China's ICBC Leasing has emerged as the major financier behind a provisional $8.8 billion order at list prices for 80 Airbus A320neo single-aisle jets, a person familiar ...
July 11 (Reuters) - Beijing-based spokesman for Industrial and Commercial Bank of China says: * FRIDAY MEDIA REPORTS ON ICBC CONSIDERING TO ACQUIRE A DEUTSCHE BANK STAKE NOT FACTUAL Further company coverage: ...
July 4 (Reuters) - Jiangmen Sugarcane Chemical Factory Co Ltd: * SAYS IT SIGNS FINANCIAL SERVICE FRAMEWORK AGREEMENT WORTH UP TO 5.0 BILLION YUAN WITH ICBC'S JIANGMEN BRANCH Source text in Chinese: https://bit.ly/2KL0MjY ...
July 2 (Reuters) - Industrial and Commercial Bank of China Ltd: * SAYS EXECUTIVE DIRECTOR, DEPUTY HEAD OF THE BANK ZHANG HONGLI RESIGNS DUE TO FAMILY MATTERS Source text in Chinese: https://bit.ly/2KFykwo ...
China's listed mid-tier and regional banks will face added pressure to curb risky activities following the formal establishment of Communist Party Committees at the lenders, bankers and analysts say. China's 40 listed banks have announced changes to their articles of association to add the committees, with 26 making announcements after the start of the year. While party committees have been set up across state-backed listed firms, their official establishment at banks comes as President Xi Jinping has targeted the industry and prioritised cutting financial risk.
Large banks such as Industrial and Commercial Bank of China Limited (HKG:1398), with a market capitalisation of HK$2.39t, have benefited from improving credit quality as a result of post-GFC recovery,Read More...
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.