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

1398.HK on Hong Kong Stock

4.73HKD
16 Jan 2017
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Latest Key Developments (Source: Significant Developments)

Industrial and Commercial Bank of China says Yi Huiman was re-elected executive director<1398.HK><601398.SS>
Friday, 24 Jun 2016 08:15am EDT 

Industrial and Commercial Bank of China Ltd <601398.SS>: Announces that at the agm, Yi Huiman was re-elected as executive director of the bank . Entered into agreement on distribution of cash dividends of H shares for Southbound trading . Announces that at the AGM, Shen Si was elected as independent non-executive director of the bank . Agreement with Shanghai Branch of China Securities Depository and Clearing Corporation Ltd . Announces Zhang Wei was elected as shareholder supervisor and shen bingxi was elected as external supervisor of the bank . 2015 profit distribution plan of the bank was considered and approved at the agm . Dong Juan has ceased to act as an external supervisor of the bank .  Full Article

ICBC updates on CBRC approval in relation to the qualification of chairman<1398.HK><601398.SS>
Friday, 17 Jun 2016 06:47am EDT 

Industrial and Commercial Bank of China Ltd <601398.SS>: ICBC usdpref1 ICBC eurpref1 ICBC cnhpref1-r-announcement on the cbrc approval in relation to the qualification of chairman of the board <1398.HK> . Says approved the appointment of Yi Huiman as the chairman .  Full Article

ICBC's chairman resigns as he reached retirement age, unit plans financial holding company
Tuesday, 31 May 2016 07:00am EDT 

Industrial And Commercial Bank Of China <601398.SS><1398.HK> : Says unit ICBC (Asia) plans to invest 1 billion euros ($1.12 billion) to set up financial holding company . Says chairman Jiang Jianqing resigns as he has reached retirement age .Says Yi Huiman is elected as chairman, pending banking regulator's approval.  Full Article

Industrial And Commercial Bank of China Ltd - ICBC executives released from custody in Spanish money laundering case - Reuters News
Tuesday, 12 Apr 2016 09:44am EDT 

Industrial And Commercial Bank of China Ltd:A Spanish court on Tuesday ordered the release from custody of two Chinese banking executives arrested in February as part of a money laundering probe into China's biggest bank, the Industrial and Commercial Bank of China (ICBC) - RTRS.The two Madrid-based ICBC executives, Liu Gang and Liu Wei, were released after the court decided there was no flight risk and dismissed concerns that they might destroy evidence, court documents said. A third ICBC employee will remain in jail.The ruling on their release does not anticipate the outcome of their case. The two men will have their passports taken away and will have to appear in court at least twice a month.Neither ICBC nor the executives have issued any comment on the case since it started in February.The bank, which had asked for the release of its staff, had previously said it was cooperating with the authorities and had always strictly implemented money laundering regulations.Three were released after they paid bail of 100,000 euros ($113,770).The other threehave been in jail since the end of February as a precautionary measure allowed under Spanish law while an investigating judges work on the case.Spanish courts can refuse bail on the grounds that a person could be a flight risk, or if they are concerned that evidence might be destroyed.The Spanish investigation is looking into allegations that funds were transferred by a criminal group via the bank to China.  Full Article

Industrial And Commercial Bank of China announces 2015 dividend payment
Wednesday, 30 Mar 2016 08:00pm EDT 

Industrial And Commercial Bank of China Ltd:To pay cash dividend of 2.33 yuan per 10 shares (before tax) to shareholders for 2015.  Full Article

Industrial And Commercial Bank of China Ltd - Britain's finance regulator may step-up inspections of China banks - Caixin - Reuters News
Monday, 28 Mar 2016 11:01pm EDT 

Industrial And Commercial Bank of China Ltd:Britain's finance regulator may ramp up financial crime inspections at the London branches of two of China's biggest banks, with a focus on money laundering and anti-corruption, the Chinese magazine Caixin quoted unidentified sources as saying - RTRS.China's banks have been dogged by allegations of lax compliance and money laundering in their European branches over the last year.The Financial Conduct Authority, or FCA, plans to strengthen inspections at the London branches of China's largest lender, the Industrial and Commercial Bank of China (ICBC) 601398.SS1398.HK, and China Construction Bank Corp (CCB) 601939.SS, Caixin said on Tuesday.The inspections would focus on areas such as anti-money laundering and anti-corruption, it added.Spokesmen for CCB and ICBC declined to comment when contacted by telephone. A spokesman for the FCA also declined to comment.Spanish police arrested five directors of ICBC after they raided the lender's Madrid offices as part of an investigation into alleged money laundering in February.Bank of China said in March it is considering all its options in an Italian case in which it is alleged that billions of euros of illicit earnings were laundered through its Milan branch.  Full Article

Industrial And Commercial Bank of China Ltd - Six arrested in ICBC money laundering case ordered to jail - Reuters
Friday, 19 Feb 2016 11:03pm EST 

Industrial And Commercial Bank of China Ltd:Six staff at the Madrid branch of China's biggest bank Industrial and Commercial Bank of China (ICBC) who were detained this week in an investigation into alleged money laundering were ordered to jail by a Madrid court on Saturday - RTRS.The six testified for more than 14 hours on Friday and early on Saturday as part of the investigation known as "operation Shadow".Three were ordered to jail without bail and the other three were ordered to jail but granted bail of 100,000 euros. It was not immediately clear if they had paid the bail.The court said in a statement that all six were suspected of having committed "several economic crimes", without giving any further details.A legal source had earlier said the six faced charges of money laundering, fraud and tax crimes and that one of them was the Madrid branch's general manager.Under Spanish law, if there is enough evidence of a crime, suspects can be held in jail while an investigative judge continues to work on the case. This can take weeks, months or in some cases as long as two years before a trial is set.The arrests follow an investigation by police, the Spanish tax agency and Europol into alleged money laundering through the branch involving funds transferred by a criminal group via the bank to China.In a previous statement released on Friday the court had said the Madrid branch would continue to operate.  Full Article

Industrial And Commercial Bank of China Ltd - Police arrest five after raid at China bank ICBC's Madrid office - Reuters
Wednesday, 17 Feb 2016 02:02pm EST 

Industrial And Commercial Bank of China Ltd:Spanish police have arrested five directors of Industrial and Commercial Bank of after they raided the lender's Madrid offices as part of an investigation into alleged money laundering. - RTRS.China's large state-owned lenders have been dogged by allegations of improper conduct as they expand abroad and the probe into ICBC by police.the Spanish tax agency and Europol involves funds handled by a criminal group which the Interior Ministry says passed through the bank and were transferred to China.Over 100 police were involved in the operation, which saw the arrest of five ICBC directors, Europol said in a statement on Wednesday.A Beijing-based spokesman for ICBC, China's largest bank in terms of assets, said its Madrid branch was cooperating with the investigation."Strictly implementing anti-money laundering regulations, and strictly operating within the law and regulations have always been our fundamental operation and management principles," the spokesman added.The Chinese embassy in Spain also said it currently had no reason to believe ICBC had been breaking the law, adding that it had not received official notification about the case from the Spanish authorities.The probe into ICBC follows a slew of allegations of money laundering levied against other Chinese banks.  Full Article

Industrial And Commercial Bank of China Ltd - Anti-graft watchdog censures 137 at China's biggest bank ICBC - Reuters
Monday, 7 Dec 2015 01:13pm EST 

Industrial And Commercial Bank of China Ltd:China's anti-graft watchdog said on Tuesday it censured 137 bankers at the Industrial and Commercial Bank of China (ICBC) 601398.SS 1398.HK, the country's largest lender, the latest move in a campaign against corruption in the financial sector - RTRS.The announcement comes just weeks after anti-graft agents probed two of China's largest brokerages and censured four executives at a leading insurer - RTRS.The widening campaign has unnerved a financial industry recovering from a summer of plummeting stock prices, with fear of becoming entangled in investigations spreading among foreign investors - RTRS.On Tuesday, the Central Commission for Discipline Inspection (CCDI), in a statement on its official website, said an investigation uncovered 25 instances of violations of Chinese Communist Party discipline at ICBC involving 47 people. - RTRS.The CCDI said offences included organising prohibited internal banquets and accepting holidays from clients, and that it gave offenders warnings with different degrees of severity - RTRS.The watchdog said there were 18 other types of disciplinary cases involving 90 employees, some of whom received warnings while others were fired. It did not elaborate on the offences - RTRS.  Full Article

Industrial And Commercial Bank of China announces 2015 overseas preferred stock dividend payment date
Thursday, 3 Dec 2015 07:00pm EST 

Industrial And Commercial Bank of China Ltd:Announces 2015 overseas preferred stock dividend payment date.To pay $196,000,000 for dollar preferred stock dividend, to pay 40,000,000 euros for euro preferred stock dividend and to pay 800,000,000 yuan for yuan preferred stock dividend to shareholders of record on Dec. 9, for 2015.The company's shares will be traded ex-right and ex-dividend on Dec. 10 and the dividend will be paid on Dec. 10.The initial dividend yield of 6 pct.  Full Article

China's Yuexiu Group signs debt-to-equity swap agreement with ICBC

BEIJING, Jan 9 China's state-owned Yuexiu Group has signed a framework debt-to-equity swap agreement with the Industrial and Commercial Bank of China (ICBC), according to a statement posted by the lender on its official website on Monday.