Industrial and Commercial Bank of China (ICBC)
The Industrial and Commercial Bank of China or ICBC is a joint stock limited company established on 1 January 1984. On 27 October 2006, the Bank was successfully listed on both Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited (Details from the ICBC official website's "About Us" page).
The ICBC was established by the Communist Party of China (CCP) to separate the function of the central bank, the People's Bank of China (PBC), from the industrial and commercial credit and savings business previously handled by the PBC.
China’s big four banks face $100b shortfall in loss-absorbing capital
China’s big four banks face $100b shortfall in loss-absorbing capital
The banks have not yet met their required loss-absorbing capacity levels.
Chinese banks’ Q2 earnings subdued as balance sheet growth decelerates
But NIM and asset quality pressures are improving.
Top banks’ market cap up 5.4% in Q2
China’s big four banks saw growth although NIMs fell.
ICBC Asia warns against phishing SMS message
The bank said that it has reported the case to the local police.
Chinese banks dominant whilst Japan, South Korean banks’ assets falter
Australian and Singaporean banks’ assets remained steady, S&P’s study showed.
Loan rate cut weighs on Chinese banks’ interest margins, profits
China Construction Bank, ICBC, and CITIC Bank will be most negatively affected.
China deems 19 banks 'too big to fail'
These banks face new capital and regulatory requirements.
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