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INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED

(1398)
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Industrial and Commercial Bank of China : 2021 Interim Report

09/27/2021 | 10:47am EST

Stock Code: 1398

2021 Interim Report

Company Profile

Industrial and Commercial Bank of China was established on 1 January 1984. On 28 October 2005, the Bank was wholly restructured to a joint-stock limited company. On 27 October 2006, the Bank was successfully listed on both Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited.

Through its continuous endeavor and stable development, the Bank has developed into the leading bank in the world, possessing an excellent customer base, a diversified business structure, strong innovation capabilities and market competitiveness. The Bank regards service as the very foundation to seek further development and adheres to creating value through services while providing a comprehensive range of financial products and services to over 9.20 million corporate customers and 690 million personal customers. The Bank has been consciously integrating the social responsibilities with its development strategy and operation and management activities, and gaining wide recognition in the aspects of supporting pandemic containment, promoting inclusive finance, backing poverty alleviation and rural revitalization, developing green finance and participating in public welfare undertakings.

The Bank always keeps in mind its underlying mission of serving the real economy with its principal business, and along with the real economy it prospers, suffers and grows. Taking a risk-based approach and never overstepping the bottom line, it constantly enhances its capability of controlling and mitigating risks. Besides, the Bank remains steadfast in understanding and following the business rules of commercial banks to strive to be a century-old bank. It also stays committed to seeking progress with innovation while maintaining stability, continuously enhances the key development strategies, actively develops the FinTech and accelerates the digital transformation. The Bank unswervingly delivers specialized services, and pioneers a specialized business model, thus making it "a craftsman in large banking".

The Bank was ranked the 1st place among the Top 1000 World Banks by The Banker, the 1st place in the Global 2000 by Forbes, and the 1st place in the list of commercial banks of the Global 500 in Fortune for the ninth consecutive year, and took the 1st place among the Top 500 Banking Brands of Brand Finance for the fifth consecutive year.

Strategic Objective:

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, ICBC will adhere to the general principle of pursuing progress while ensuring stability, apply the new development philosophy, modernize its governance system and capacity, and turn ICBC into a world-class and modern financial enterprise with global competitiveness.

Strategic Significance:

Adhere to the guidance of the Party building theory and exercising rigorous corporate governance:

ICBC upholds the Party's leadership over the financial work, and strives to improve the scientific decision-making as well as the effectiveness of corporate governance through enhanced governance system and capacity building.

Adhere to putting the customer first and serving the real economy:

ICBC remains steadfast in serving the real economy and commits to satisfying people's new expectations and demands for financial services, making every effort to build the No.1 Personal Finance Bank.

Adhere to technology-driven development and value creation:

ICBC empowers its business operations and management with FinTech, and creates superior value for the real economy, shareholders, customers, employees and the society as a whole.

Adhere to a broad international vision and globalized operations:

ICBC proactively taps resources from both domestic and overseas markets, and undertakes to constantly promote international development, which well-integrates with China's high-levelopening-up.

Adhere to pushing for

Keeping pace with changing times, ICBC endeavours to

pragmatic business

advance reforms in key areas and critical steps, seeking

transformation and progressing

room for development through transformation and vitality

through reform:

for growth through reform.

Adhere to laying a solid

ICBC safeguards the lifeline of asset quality by reinforcing

bottom-line thinking with a combination of prevention and

foundation for risk control

control measures. Meanwhile, corporate culture formation

and achieving development

and caring for staff are strengthened to increase group

through talent cultivation:

cohesion.

Mission:

Excellence for You

Excellent services for clients

Maximum returns to shareholders

Real success for employees

Great contribution to society

Vision:

To build a world-class, globally competitive modern financial institution in all aspects, and become a long-lasting and ever-prosperous bank

Values:

Integrity Leads to Prosperity

Integrity

Humanity

Prudence

Innovation

Excellence

CONTENTS

Definitions

4

Information Disclosed Pursuant to the

Important Notice

5

Capital Regulation

64

Corporate Information

6

Hot Topics in the Capital Market

66

Financial Highlights

7

Details of Changes in Share Capital

Overview of Business Operation

10

  and Shareholding of Substantial

Discussion and Analysis

12

Shareholders

68

Economic, Financial and Regulatory

Directors, Supervisors and Senior

  Environments

12

Management

75

Financial Statements Analysis

13

Corporate Governance

76

Business Overview

27

Environmental and

Risk Management

50

Social Responsibilities

77

Capital Management

60

Significant Events

79

Outlook

63

Review Report and Interim

Financial Report

82

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

ICBC - Industrial and Commercial Bank of China Limited published this content on 27 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 September 2021 10:51:01 UTC.


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Financials
Sales 2021 859 B 135 B 135 B
Net income 2021 330 B 51 843 M 51 843 M
Net Debt 2021 - - -
P/E ratio 2021 4,73x
Yield 2021 6,46%
Capitalization 1 898 B 243 B 298 B
Capi. / Sales 2021 2,21x
Capi. / Sales 2022 2,06x
Nbr of Employees 439 787
Free-Float 67,5%
Chart INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
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Industrial and Commercial Bank of China Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 22
Last Close Price 4,36 CNY
Average target price 5,09 CNY
Spread / Average Target 16,7%
EPS Revisions
Managers and Directors
Lin Liao Vice Chairman & President
Wen Wu Zhang Senior Executive VP, GM-Finance & Accounting
Si Qing Chen Chairman
Liang Bo Huang Chairman-Supervisory Board
Xiang Jiang Wu Member-Supervisory Board
Sector and Competitors