Stock Code: 1398
USD Preference Shares Stock Code: 4603 EUR Preference Shares Stock Code: 4604 RMB Preference Shares Stock Code: 84602
Interim Report
2017
Company ProfileIndustrial 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 has made efforts to build a "bank to the satisfaction of customers" while providing a comprehensive range of financial products and services to 6.07 million corporate customers and 546 million personal customers. The Bank consciously integrates the social responsibilities with its development strategy and operation and management activities, gaining wide recognition in the aspects of supporting targeted poverty relief, protecting environment and resources, participating in public welfare undertakings and promoting inclusive finance.
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 regards controlling and resolving risks as its iron law. 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 strategy of mega retail, mega asset management, mega investment banking as well as international and comprehensive development, and actively embraces the Internet. 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, ranked 1st place in the Global 2000 listed by Forbes and topped the sub-list of commercial banks of the Global 500 in Fortune for the fifth consecutive year, and took the 1st place among the Top 500 Banking Brands of Brand Finance.
CONTENTSDefinitions 2
Important Notice 3
Corporate Information 4
Financial Highlights 5
Chairman's Statement 8
President's Statement 10
Discussion and Analysis 12
Economic, Financial and
Regulatory Environments 12
Financial Statements Analysis 13
Business Overview 28
Risk Management 47
Capital Management 58
Outlook 61
Other Information Disclosed Pursuant to Regulatory
Requirements 62
Information Disclosed Pursuant to
the Capital Regulation 63
Details of Changes in Share Capital and Shareholding of Substantial
Shareholders 67
Directors, Supervisors,
Senior Management, Employees
and Institutions 74
Significant Events 76
Review Report and
Interim Financial Report 80
List of Domestic and Overseas
Branches and Offices 196
DefinitionsIn this report, unless the context otherwise requires, the following terms shall have the meanings set out below:
Articles of Association The Articles of Association of Industrial and Commercial Bank of China Limited Bank ICBC (JSC) Bank ICBC (Joint Stock Company)
Capital Regulation Regulation Governing Capital of Commercial Banks (Provisional) promulgated by
CBRC in June 2012
CBRC China Banking Regulatory Commission
CSRC China Securities Regulatory Commission
Global Systemically Important Banks Banks undertaking key functions with global features in the financial markets as
released by the Financial Stability Board
Hong Kong Listing Rules Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong
Limited
Huijin Central Huijin Investment Ltd.
ICBC (Almaty) Industrial and Commercial Bank of China (Almaty) Joint Stock Company
ICBC (Argentina) Industrial and Commercial Bank of China (Argentina) S.A.
ICBC (Asia) Industrial and Commercial Bank of China (Asia) Limited
ICBC (Brasil) Industrial and Commercial Bank of China (Brasil) S.A.
ICBC (Canada) Industrial and Commercial Bank of China (Canada)
ICBC (Europe) Industrial and Commercial Bank of China (Europe) S.A.
ICBC (Indonesia) PT. Bank ICBC Indonesia
ICBC (London) ICBC (London) PLC
ICBC (Macau) Industrial and Commercial Bank of China (Macau) Limited
ICBC (Malaysia) Industrial and Commercial Bank of China (Malaysia) Berhad
ICBC (Mexico) Industrial and Commercial Bank of China Mexico S.A.
ICBC (New Zealand) Industrial and Commercial Bank of China (New Zealand) Limited
ICBC (Peru) ICBC PERU BANK
ICBC (Thai) Industrial and Commercial Bank of China (Thai) Public Company Limited
ICBC (Turkey) ICBC Turkey Bank Anonim ¸Sirketi
ICBC (USA) Industrial and Commercial Bank of China (USA) NA ICBC Credit Suisse Asset Management ICBC Credit Suisse Asset Management Co., Ltd.
ICBC International ICBC International Holdings Limited
ICBC Leasing ICBC Financial Leasing Co., Ltd.
ICBC Standard Bank ICBC Standard Bank PLC
ICBC-AXA ICBC-AXA Assurance Co., Ltd.
ICBCFS Industrial and Commercial Bank of China Financial Services LLC
IFRSs The International Financial Reporting Standards promulgated by the International Accounting Standards Board, which comprise the International Accounting Standards
MOF Ministry of Finance of the People's Republic of China
PBC The People's Bank of China
PRC GAAP Accounting Standards for Business Enterprises promulgated by the Ministry of Finance
Securities and Futures Ordinance of Hong Kong
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)
SEHK The Stock Exchange of Hong Kong Limited
SSE Shanghai Stock Exchange
Standard Bank Standard Bank Group Limited
the Bank/the Group Industrial and Commercial Bank of China Limited; or Industrial and Commercial
Bank of China Limited and its subsidiaries
2
ICBC - Industrial and Commercial Bank of China Limited published this content on 21 September 2017 and is solely responsible for the information contained herein.
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