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

China's ICBC Financial Leasing orders 55 C919 planes

BEIJING, Dec 5 (Reuters) - China's ICBC Financial Leasing Co Ltd placed an order for 55 C919 planes on Tuesday, bringing the order book for China's domestically-developed passenger jet to 785, the Commercial Aircraft Corp of China Ltd (COMAC) said.
Posted: December 5, 2017, 12:27 pm

Hawaii Sees Legalizing Adult Use Marijuana As Huge Boon to Island Economy

Perhaps that's in-part what made the island of Kauai a perfect host to the recent International Cannabis Business Conference (ICBC) December 1-3, 2017. Hawaii is just one stop of the ICBC conference series that takes place around the world in emerging ...
Posted: December 13, 2017, 11:00 am

Parliament approves facility to finance supply of electrical materials

Parliament has approved an $88 million facility agreement between the government and the Industrial and Commercial Bank of China Limited (ICBC) to finance the supply of electrical materials and equipment to five selected regions in the country. The ...
Posted: December 15, 2017, 2:04 am
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