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

ICBC Latest News

Surrey chiropractor convicted for ICBC fraud, sentenced to $20K fine

A Surrey chiropractor has been found guilty of billing ICBC for treatments that were never performed. Dr. Maninder Singh Badyal, owner of Absolute Health and Wellness Clinic, at 15164 Fraser Hwy, was found guilty of committing fraud over $5,000 on June 8.
Posted: August 17, 2017, 11:15 am

ICBC is 'on the path to insolvency' and there's no clear fix

British Columbia's once-celebrated public auto insurer has become a financial train wreck, its critics say, as studies into the beleaguered Crown corporation call for dramatic rate hikes and drastic structural changes to save it from ruin. But while ...
Posted: August 13, 2017, 2:06 pm

The LBMA is a ploy of the Central Bank Community

Although the Chinese gold market is the world’s largest physical gold trading market, only 1 Chinese bank (ICBC as of 4 April 2016) is a Market Making Member in the LBMA OTC gold market (5). Chairman of the LBMA is dr Paul Fisher. He has been a senior ...
Posted: August 17, 2017, 10:27 am

ICBC problem easily solved

Simple, End ICBC's monopoly. Allow private insurance companies to sell all kinds of auto insurance in British Columbia and the problem would be fixed for BC taxpayers and motorists alike almost over night. ICBC has never operated like a REAL insurance ...
Posted: August 17, 2017, 1:50 pm

Surrey chiropractor ordered to pay nearly $20,000 for fraud against ICBC

SURREY (NEWS 1130) – A Surrey chiropracter will have to pay nearly $20,000 after committing fraud against ICBC. Dr. Maninder Singh Badyal, the owner of the Absolute Health and Wellness Clinic, was convicted earlier this year after billing the insurance ...
Posted: August 17, 2017, 12:17 pm
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