ICBC Net Worth is$237.4 B
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Company Name: Industrial and Commercial Bank of China Ltd.
Company Logo: Image:Industrial and Commercial Bank of China logo.svg
Company Type: Public company, IDCBY
Foundation: Beijing, China (1984)
Location City: Beijing
Location Country: China
Key People: Jiang Jianqing,
Industry: Banking, Investment
Products: Finance and insurance, Credit Cards
Revenue: link
Net Income: 208.44 billion (2011) Assets: 15.476 trillion (2011) Equity: 957.82 billion (2011) Num Employees: 405,354 (2011) Owner: Government of the People's Republic of China
Homepage: {{en icon}} []
Industrial and Commercial Bank of China Ltd. (ICBC) (simplified Chinese: a,-a? 1/2 a??a??e??e??; traditional Chinese: a,-a??a??a??e??e??; pinyin: ZhA?ngguA? GA?ngshA?ng YA-nhA?ng, more commonly just a??e?? GA?nghA?ng) is the largest bank in the world by profit and market capitalization. It is one of China's 'Big Four' state-owned commercial banks (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank). It was founded as a limited company on January 1, 1984. As of March 2010, it had assets of RMB 12.55 trillion (US$1.9 trillion), with over 18,000 outlets including 106 overseas branches and agents globally. In 2011, it ranked number 7 on Forbes Global 2000 list of worlds biggest public companies.
The bank's Hong Kong operations are listed under the name ICBC Asia. It has purchased the Hong Kong subsidiary of Fortis Bank and rebranded it under its own name on 10 October 2005.
In the runup to its planned initial public offering, on 28 April 2006, three "strategic investors" injected US$3.7 billion into ICBC :
ICBC was simultaneously listed on both the Hong Kong Stock Exchange and Shanghai Stock Exchange on 27 October 2006. It was the world's largest IPO at that time valued at US$21.9 billion, surpassing the previous record US$18.4 billion IPO by Japan's NTT DoCoMo in 1998. In 2010, AgBank broke ICBC's IPO record when it raised $22.1 billion. China's largest commercial bank was also the first company to debut simultaneously on both the Hong Kong and Shanghai stock exchanges.
ICBC raised at least US$14 billion in Hong Kong (H-shares) and another US$5.1 billion in Shanghai (A-shares). Due to heavy subscriptions, the greenshoe (i.e. over-allotment) placements were exercised and ICBC's take rose to US$21.9 billion (17% of ICBC's market value before the IPO), divided in US$16 billion in Hong Kong and US$5.9 billion in Shanghai. Following the global offering, the free float of shares was 22.14% of the market capitalization

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ICBC Latest News

ICBC sees 70% bump in tips about fraudulent insurance claims

Thanks to help from British Columbians, ICBC is catching more insurance fraudsters. After releasing a fraud awareness campaign earlier this year, ICBC received nearly 300 more tips in this year’s first quarter than in 2015. That was 70% boost. Chris ...
Posted: October 23, 2016, 3:23 pm

ICBC issues warning about fall spike in pedestrian crashes

ICBC is urging drivers and pedestrians to take extra care on the roads this fall, after statistics revealed 59 pedestrians are killed on BC roads every year between October and January. Todd Stone, Minister of Transportation and Infrastructure, is also ...
Posted: October 19, 2016, 11:58 am

ICBC says fraudulent and exaggerated claims make up about 10 to 20 per cent of all claims costs.

FILING five injury claims from a staged crash, falsely reporting the theft of tires from a truck, and an improperly insured, unsafe limo that went up in flames. These are some of the recent fraudulent and exaggerated claims handled by ICBC’s Special ...
Posted: October 20, 2016, 12:15 pm
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