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INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

(1398)
  Report
Delayed Hong Kong Stock Exchange  -  03:08 2022-12-07 am EST
3.800 HKD   -1.55%
11/29Taiping Life Insurance Boosts Stake in ICBC to 5%
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11/29Industrial and Commercial Bank of China Limited agreed to acquire an unknown minority stake in Dongguan Leader Precision Industry Co., Ltd. from Speed Tech Corp. for CNY 20 million.
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11/24Hong Kong's Medium and Small Banks Slash Mortgage Rates
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ICBC's First-Half Profit Rose 4.9%

08/30/2022 | 05:23am EST

By Clarence Leong


Industrial & Commercial Bank of China Ltd. on Tuesday posted a 4.9% increase in first-half net profit, thanks to higher net interest income and as loans increased.

ICBC's net profit rose to 171.51 billion yuan ($24.83 billion), compared with CNY163.47 billion a year earlier.

Net interest income rose 4.5% to CNY351.43 billion, while net fee and commission income increased 0.1% to CNY76.02 billion.

ICBC's net interest margin for the half was 2.03%, down from 2.12% a year earlier.

The lender's nonperforming loan ratio stood at 1.41% at the end of June, compared with 1.42% at the end of December, it said. ICBC's total assets also rose 10% from the end of 2021 to CNY38.744 trillion at June 30. Of that, total loans accounted for CNY22.341 trillion, up 8.1% from end-2021.

ICBC set aside impairment losses on assets of CNY133.62 billion for the first half, up 7.3% from the year-earlier period, it said.


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

08-30-22 0522ET

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF CHINA LIMITED -1.48% 2.67 Delayed Quote.-3.56%
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED -1.55% 3.8 Delayed Quote.-12.27%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.16% 6.9658 Delayed Quote.9.64%
All news about INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
11/29Taiping Life Insurance Boosts Stake in ICBC to 5%
MT
11/29Industrial and Commercial Bank of China Limited agreed to acquire an unknown minority s..
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11/24Hong Kong's Medium and Small Banks Slash Mortgage Rates
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11/24Zhejiang China Commodities Issues $140 Million Bonds
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11/23ICBC to Begin Accepting Applications for Personal Pension System
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11/23Fitch Affirms ICBC's Long-Term IDR at 'A'; Outlook Stable
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11/20China's Banking Sector Assets Grow 10.2% in January-September Period
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11/18China State Construction Unit Signs $51 Million Green Loan Facility
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11/17Goldman's JV with ICBC raises $21 mln in maiden China wealth product
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11/15Chinese Banks’ Bad Loan Ratio Shrinks in Q3
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Analyst Recommendations on INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
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Financials
Sales 2022 892 B 128 B 128 B
Net income 2022 358 B 51 369 M 51 369 M
Net Debt 2022 - - -
P/E ratio 2022 3,41x
Yield 2022 9,02%
Capitalization 1 452 B 208 B 208 B
Capi. / Sales 2022 1,63x
Capi. / Sales 2023 1,54x
Nbr of Employees 434 089
Free-Float 68,6%
Chart INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
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Technical analysis trends INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 25
Last Close Price 3,40 CNY
Average target price 4,66 CNY
Spread / Average Target 36,9%
EPS Revisions
Managers and Directors
Lin Liao Vice Chairman & President
Wen Wu Zhang Senior Executive VP, GM-Finance & Accounting
Si Qing Chen Chairman
Xiang Jiang Wu GM-Internal Control & Compliance Department
Anthony Francis Neoh Independent Non-Executive Director
Sector and Competitors