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Industrial and Commercial Bank of China Ltd (1398.HK)

1398.HK on Hong Kong Stock

4.96HKD
21 Apr 2017
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Latest Key Developments (Source: Significant Developments)

ICBC to pay annual cash div as 2.343 yuan per 10 shares for FY 2016
Sunday, 2 Apr 2017 10:46pm EDT 

ICBC <601398.SS> : Says it plans to pay annual cash dividend as 2.343 yuan(pre-tax) per 10 shares as FY 2016 div payment .To pay A share shareholders in RMB and H share shareholders in HK dollar.  Full Article

China's ICBC has 2 bln yuan in loans to Huishan Dairy -chief risk officer
Thursday, 30 Mar 2017 08:33am EDT 

: Industrial and Commercial Bank of China (ICBC) <601398.SS><1398.HK> has about 2 billion yuan ($290.36 million) in loan exposure to China Huishan Dairy Holdings Co <6863.HK>, ICBC's chief risk officer Wang Bairong said on the sidelines of a news conference on Thursday. . ICBC's loans to Huishan Dairy account for about 5 percent of the company's financing, another ICBC official said. . Huishan Dairy, which had $4 billion wiped off its value in a single day last week, said on Tuesday that it had missed loan repayments and lost contact with a key executive.[nL3N1H51KV] Further company coverage: [601398.SS] ($1 = 6.8880 Chinese yuan renminbi) (Reporting By Matthew Miller; Editing by David Goodman) ((matthew.miller1@thomsonreuters.com;)).  Full Article

ICBC posts 2016 financial results
Thursday, 30 Mar 2017 04:37am EDT 

Industrial and Commercial Bank of China Ltd <1398.HK><601398.SS> : Says 2016 net profit 278.25 billion yuan ($40.39 billion) . Says non-performing loans ratio at 1.62 percent . Says net interest margin at 2.16 percent .Says capital adequacy ratio at 12.87 percent.  Full Article

Industrial and Commercial Bank of China gets regulatory approval to appoint deputy head
Monday, 6 Feb 2017 05:34am EST 

Industrial and Commercial Bank of China Ltd <601398.SS><1398.HK> :Says it gets banking regulator's approval to appoint Tan Jiong as deputy head of the bank.  Full Article

Easyknit International updates on disposal of securities of Industrial and Commercial Bank Of China Ltd
Friday, 23 Dec 2016 03:47am EST 

Easyknit International Holdings Ltd <1218.HK> : Major Transaction - Disposal Of Securities Of Industrial And Commercial Bank Of China Limited . Group disposed on-market a total of 12 million icbc shares in a transaction at an average price of hk$4.69 per ICBC share . Deal for a gross sale proceeds of approximately hk$56.3 million .As a result of disposal, group is expected to recognize a gain of approximately hk$2 million.  Full Article

ICBC issues US$500 mln floating rate medium term notes due 2019
Friday, 25 Nov 2016 05:01am EST 

Industrial and Commercial Bank of China : Issue of US$500 mln floating rate medium term notes due 2019 by London branch under its uS$10 bln medium term note programme .US$500 million floating rate medium term notes due are expected to be listed on London Stock Exchange on 29 Nov.  Full Article

Industrial and commercial bank of china appoints Gu Shu as vice chairman
Tuesday, 27 Sep 2016 07:32am EDT 

Industrial And Commercial Bank Of China Ltd <601398.SS> : Sheila Colleen Bair nominated as candidate for independent non- executive director of bank .Gu Shu has been appointed as vice chairman.  Full Article

Industrial and Commercial Bank Of China says board approved appointment of Gu Shu as president
Tuesday, 27 Sep 2016 07:24am EDT 

Industrial And Commercial Bank Of China Ltd <1398.HK> :Considered and approved proposal on appointment of Gu Shu as president of Industrial And Commercial Bank Of China Limited.  Full Article

ICBC Chairman says first NPL-backed securities won't exceed 5 bln yuan
Tuesday, 30 Aug 2016 07:49am EDT 

Speaking at a press conference in Beijing, Industrial & Commercial Bank Of China Chairman Yi Huiman said : ICBC's bad debts may continue to rise but will stabilise gradually . It's too early to say whether bad debt levels getting worse or better, . ICBC will issue NPL-backed securities next month . ICBC's first batch of NPL-backed securities will not exceed 5 billion yuan (Reporting by Shu Zhang and Matthew Miller; editing by David Clarke) ((matthew.miller1@thomsonreuters.com;)).  Full Article

ICBC posts H1 financial results
Tuesday, 30 Aug 2016 04:54am EDT 

Industrial and Commercial Bank of China Ltd <1398.HK><601398.SS> : Says H1 net profit 150.22 billion yuan ($22.49 billion) . Says non-performing loans ratio at 1.55 percent at end-June . Says net interest margin at 2.21 percent at end-June .Says capital adequacy ratio at 12.54 pct at end-June.  Full Article

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Fitch: Chinese Banks' Profitability Is Likely to Decline Further

(The following statement was released by the rating agency) HONG KONG/LONDON, April 07 (Fitch) Chinese banks will struggle to avoid further declines in profitability this year if tight market liquidity aimed at slowing further build-up in leverage remains in effect, as it is likely to increase funding costs, Fitch Ratings says. There is limited scope to pass higher funding costs to borrowers because corporate leverage and associated interest burdens are already high. Net interest margin contract