INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

Financial Ratios Industrial and Commercial Bank of China Limited

Equities

1398

CNE1000003G1

Banks

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Sep. 16	Synlait Milk Secures NZ$450 Million Syndicated Loans to Refinance Bank Debt	MT
Sep. 04	S&P Assigns A Long-Term Rating to ICIL Aero Treasury	MT

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Published financial data: INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest Income On Loans	1,038B	1,093B	1,162B	1,280B	1,405B
Interest Income, Total	1,038B	1,093B	1,162B	1,280B	1,405B
Interest On Deposits	431B	446B	472B	587B	750B
Interest Expense, Total	431B	446B	472B	587B	750B
Net Interest Income	607B	647B	691B	694B	655B
Income From Trading Activities	-	2.22B	8.96B	8.61B	14.93B
Gain (Loss) on Sale of Assets	-	1.32B	2.18B	1.59B	1.92B
Gain (Loss) on Sale of Invest. & Securities - (Rev)	-	11.83B	16.44B	6.32B	21.56B
Income (Loss) on Equity Invest. (Income Block)	2.52B	-	-	-	-
Total Other Non Interest Income	246B	138B	143B	131B	113B
Non Interest Income, Total	248B	153B	170B	148B	151B
Revenues Before Provison For Loan Losses	855B	800B	861B	841B	806B
Provision For Loan Losses	175B	198B	200B	179B	150B
Total Revenues	680B	602B	661B	662B	657B
Salaries And Other Employee Benefits	-	127B	139B	144B	141B
Amort. of Goodwill & Intang. Assets	-	2.61B	3.12B	3.72B	4.43B
Occupancy Expense	-	27.96B	28.82B	29.03B	28.53B
Selling General & Admin Expenses, Total	199B	-	-	-	-
(Income) Loss on Equity Invest.	-	-1.3B	-2.87B	-4.43B	-5.02B
Total Other Non Interest Expense	86.59B	49.45B	64.92B	64.63B	64.33B
Non Operating (Income) Expenses	-1.22B	-	-	-	-
Non Interest Expense, Total	284B	205B	233B	236B	234B
EBT, Excl. Unusual Items	395B	396B	427B	426B	423B
Impairment of Goodwill	-	-359M	-	-	-
Asset Writedown	-3.48B	-3.81B	-2.53B	-3.48B	-1.3B
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	392B	392B	425B	423B	422B
Income Tax Expense	78.43B	74.44B	74.68B	61.53B	56.85B
Earnings From Continuing Operations	313B	318B	350B	361B	365B
Net Income to Company	313B	318B	350B	361B	365B
Minority Interest	-1.14B	-1.78B	-1.88B	-555M	-1.12B
Net Income - (IS)	312B	316B	348B	360B	364B
Preferred Dividend and Other Adjustments	4.52B	8.84B	9.61B	14.81B	14.96B
Net Income to Common Incl Extra Items	308B	307B	339B	346B	349B
Net Income to Common Excl. Extra Items	308B	307B	339B	346B	349B
Per Share Items
Net EPS - Basic	0.86	0.86	0.95	0.97	0.98
Basic EPS - Continuing Operations	0.86	0.86	0.95	0.97	0.98
Basic Weighted Average Shares Outstanding	356B	356B	356B	356B	356B
Net EPS - Diluted	0.86	0.86	0.95	0.97	0.98
Diluted EPS - Continuing Operations	0.86	0.86	0.95	0.97	0.98
Diluted Weighted Average Shares Outstanding	356B	356B	356B	356B	356B
Normalized Basic EPS	0.69	0.69	0.74	0.75	0.74
Normalized Diluted EPS	0.69	0.69	0.74	0.75	0.74
Dividend Per Share	0.26	0.27	0.29	0.3	0.31
Payout Ratio	30.06	32.45	29.97	33.11	33.83
American Depositary Receipts Ratio (ADR)	20	20	20	20	20
Supplemental Items
Effective Tax Rate - (Ratio)	20.02	18.98	17.58	14.56	13.47
Current Domestic Taxes	80.91B	75.8B	81.23B	78.05B	59.84B
Current Foreign Taxes	3.38B	2.35B	1.95B	3.58B	5.21B
Total Current Taxes	84.29B	78.14B	83.18B	81.63B	65.05B
Total Deferred Taxes	-5.86B	-3.7B	-8.49B	-20.11B	-8.2B
Normalized Net Income	246B	246B	265B	266B	263B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	843B	926B	630B	812B	1,623B
Investment Securities, Total	8,862B	9,345B	9,932B	11,308B	12,934B
Trading Asset Securities, Total	232B	391B	346B	413B	447B
Total investments	9,094B	9,736B	10,278B	11,720B	13,381B
Gross Loans	17,074B	18,624B	20,667B	23,212B	26,086B
Allowance For Loan Losses	-479B	-530B	-604B	-672B	-756B
Net Loans	16,595B	18,094B	20,063B	22,540B	25,330B
Gross Property Plant And Equipment	476B	513B	532B	563B	577B
Accumulated Depreciation	-157B	-193B	-210B	-236B	-250B
Net Property Plant And Equipment	318B	320B	322B	327B	327B
Goodwill	9.52B	8.59B	8.17B	8.8B	8.97B
Other Intangibles, Total	20.33B	16.22B	15.59B	14.94B	14.44B
Accrued Interest Receivable	74.27B	65.2B	66.75B	77.72B	83.8B
Other Receivables	22.52B	841B	599B	814B	513B
Restricted Cash	2,676B	2,602B	2,459B	2,648B	2,833B
Other Current Assets, Total	246B	287B	275B	281B	147B
Deferred Tax Assets Long-Term (Collected)	62.54B	67.71B	79.26B	102B	105B
Other Real Estate Owned And Foreclosed	9.08B	7.36B	6.21B	6.2B	3.39B
Deferred Charges Long-Term	3.81B	-	-	-	-
Other Long-Term Assets, Total	136B	374B	368B	259B	328B
Total Assets	30,109B	33,345B	35,171B	39,610B	44,697B
Liabilities
Accrued Expenses, Total	41.79B	40.4B	49.2B	57.78B	60.71B
Interest Bearing Deposits	24,359B	26,945B	28,140B	31,760B	35,465B
Non-Interest Bearing Deposits	511B	571B	661B	693B	743B
Total Deposits	24,870B	27,516B	28,801B	32,453B	36,208B
Short-Term Borrowings	839B	903B	927B	1,192B	1,623B
Current Portion of Long-Term Debt	141M	52.98B	37.36B	145B	231B
Current Portion of Leases	7.4B	8.09B	8.32B	8.92B	8.07B
Long-Term Debt	758B	813B	813B	913B	1,377B
Long-Term Leases	22.12B	21.74B	20.02B	19.71B	16.78B
Current Income Taxes Payable	96.19B	89.78B	92.44B	85.58B	63.32B
Accrued Interest Payable	240B	270B	363B	458B	540B
Other Current Liabilities - (Bank / Utility Template)	-	-	-	-	-
Pension & Other Post Retirement Benefits	6.78B	490M	32M	19M	12M
Deferred Tax Liability Non-Current	1.87B	2.88B	5.62B	3.8B	3.93B
Other Non Current Liabilities	535B	717B	779B	760B	789B
Total Liabilities	27,417B	30,436B	31,896B	36,096B	40,920B
Preferred Stock Convertible	120B	139B	135B	135B	135B
Preferred Stock - Others	-89M	-118M	-	-	-
Total Preferred Equity	119B	139B	135B	135B	135B
Common Stock, Total	356B	356B	356B	356B	356B
Additional Paid In Capital	149B	-	-	-	-
Retained Earnings	1,966B	2,173B	1,978B	2,657B	2,902B
Comprehensive Income and Other	85.4B	225B	789B	347B	364B
Total Common Equity	2,557B	2,754B	3,123B	3,361B	3,622B
Minority Interest	15.82B	16.01B	17.5B	18.66B	19.7B
Total Equity	2,692B	2,910B	3,275B	3,514B	3,777B
Total Liabilities And Equity	30,109B	33,345B	35,171B	39,610B	44,697B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	356B	356B	356B	356B	356B
ECS Total Common Shares Outstanding	356B	356B	356B	356B	356B
Book Value / Share	6.93	7.48	8.15	8.81	9.55
Tangible Book Value	2,527B	2,730B	3,099B	3,337B	3,599B
Tangible Book Value Per Share	6.85	7.42	8.08	8.75	9.48
Average Assets	29,389B	32,414B	34,742B	37,946B	42,410B
Average Loans	15,897B	17,979B	19,996B	22,248B	25,007B
Total Debt	1,626B	1,799B	1,806B	2,278B	3,256B
Deposits at Interest - Cash	1,384B	1,726B	1,374B	1,861B	2,689B
Net Debt	-815B	-508B	-70.14B	-6.11B	-227B
Equity Method Investments, Total	32.49B	41.21B	61.78B	65.88B	64.78B
Full Time Employees	445K	440K	434K	428K	419K
Number Of Offices	16.6K	16.62K	16.59K	15.64K	15.5K
Assets on Operating Lease - Gross	157B	169B	181B	198B	204B
Assets on Operating Lease - Accumulated Depreciation	-23.36B	-35.96B	-41.37B	-50.35B	-54.32B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	312B	316B	348B	360B	364B
Depreciation, Depletion & Amortization	25.36B	27.05B	28.19B	30.32B	30.34B
Amortization of Goodwill and Intangible Assets - (CF)	819M	2.61B	3.12B	3.72B	4.43B
Total Depreciation, Depletion & Amortization	26.17B	29.65B	31.32B	34.04B	34.77B
Amortization of Deferred Charges, Total	2.37B	-	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-	-1.24B	-2.08B	-1.55B	-1.81B
(Gain) Loss on Sale of Investments - (CF)	-12.67B	-11.49B	-18.35B	-22.85B	-23.51B
Total Asset Writedown	16.85B	18.04B	19.88B	50.8B	4.68B
Provision for Credit Losses	162B	172B	168B	143B	143B
(Income) Loss On Equity Investments - (CF)	-	-1.3B	-2.87B	-4.43B	-5.02B
Change in Trading Asset Securities	-	284B	143B	-45.21B	-26.74B
Change in Other Net Operating Assets (Collected)	171B	-1,225B	-1,283B	-2,072B	-2,270B
Other Operating Activities	16.18B	-243B	-269B	-294B	-337B
Cash from Operations	695B	-662B	-864B	-1,852B	-2,117B
Capital Expenditure	-34.16B	-38B	-27.58B	-23.13B	-31.2B
Sale of Property, Plant, and Equipment	9.59B	8.54B	13.01B	10.02B	7.53B
Investment in Marketable and Equity Securities, Total	-855B	-1,357B	-942B	-1,224B	-1,229B
Other Investing Activities, Total	3.84B	251B	282B	326B	361B
Cash from Investing	-876B	-1,135B	-675B	-911B	-892B
Long-Term Debt Issued, Total	1,141B	928B	835B	956B	1,422B
Total Debt Issued	1,141B	928B	835B	956B	1,422B
Long-Term Debt Repaid, Total	-1,021B	-859B	-837B	-871B	-957B
Total Debt Repaid	-1,021B	-859B	-837B	-871B	-957B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-32.79B	-	-	-	-
Issuance of Preferred Stock	150B	19.72B	140B	-	-
Repurchase of Preferred Stock	-	-	-11.16B	-	-
Common Dividends Paid	-89.32B	-97.22B	-98.36B	-114B	-117B
Preferred Dividends Paid	-4.52B	-5.28B	-6.05B	-5.8B	-5.84B
Common & Preferred Stock Dividends Paid	-93.84B	-103B	-104B	-119B	-123B
Net Increase (Decrease) in Deposit Accounts - (CF)	-	2,220B	1,225B	3,257B	3,534B
Other Financing Activities, Total	-30.23B	-33.06B	-34.6B	-30.73B	-57.04B
Cash from Financing	113B	2,173B	1,213B	3,192B	3,820B
Foreign Exchange Rate Adjustments	9.46B	-34.86B	-29.14B	60.85B	18.29B
Net Change in Cash	-59.11B	341B	-354B	490B	829B
Supplemental Items
Cash Interest Paid	434B	418B	378B	478B	667B
Cash Income Tax Paid (Refund)	131B	84.55B	82.65B	88.5B	87.32B
Net Debt Issued / Repaid	120B	68.9B	-1.18B	85.29B	466B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.08	1	1.02	0.97	0.87
Return On Equity %	12.44	11.34	11.33	10.64	10.01
Return on Common Equity	12.8	11.56	11.26	10.66	10
Shareholders Value Added	24.61B	-151M	-9.54B	-24.82B	-50.6B
Margin Analysis
SG&A Margin	29.29	25.69	25.45	26.04	25.87
Net Interest Income / Total Revenues %	89.3	107.51	104.52	104.71	99.71
EBT Excl. Non-Recurring Items Margin %	58.15	65.88	64.68	64.31	64.43
Income From Continuing Operations Margin %	46.1	52.81	53	54.5	55.58
Net Income Margin %	45.94	52.51	52.72	54.41	55.41
Net Avail. For Common Margin %	45.27	51.04	51.26	52.18	53.13
Normalized Net Income Margin	36.18	40.88	40.14	40.11	40.1
Asset quality
Nonperforming Loans / Total Loans %	1.41	1.58	1.42	1.38	1.36
Nonperforming Loans / Total Assets %	0.8	0.88	0.83	0.81	0.79
Nonperforming Assets / Total Assets %	0.83	0.9	0.85	0.83	0.81
NPAs / Loans and OREO	1.46	1.62	1.45	1.41	1.38
NPAs / Equity	9.26	10.36	9.15	9.32	9.53
Allowance for Credit Losses / Net Charge-offs %	507.87	459.74	656.42	888.86	1.3K
Allowance for Credit Losses / Nonperforming Loans %	199.5	180.39	205.76	209.3	213.86
Allowance for Credit Losses / Total Loans %	2.81	2.85	2.92	2.9	2.9
Net Charge-offs / Total Average Loans %	0.59	0.64	0.46	0.34	0.23
Provision for Loan Losses / Net Charge-offs %	185.99	172.09	217.54	236.61	257.45
Earning Assets / IBL	110.21	112.83	113.24	111.82	110.81
Interest Income / Average Assets	3.53	3.37	3.35	3.37	3.31
Interest Expense / Average Assets	1.47	1.38	1.36	1.55	1.77
Net Interest Income / Average Assets