Industrial And Commercial Bank Of China Ltd (ICK.DU)
- South China Morning Post
Singapore's Temasek trims stake in ICBC as China's slumping property market dents state lenders' profits
Temasek Holdings, Singapore's sovereign wealth fund, cut its stake in the Industrial and Commercial Bank of China (ICBC) twice in one day last week, reducing its share of the lender to less than 5 per cent. The state investor first trimmed its allocation in China's biggest bank by selling 825 million H-shares at an average price of HK$4.7 each on May 27, taking its stake from 6.01 per cent to 5.06 per cent, AA Stocks reported on Tuesday. This was followed by a further cut of HK$408 million on th
- Reuters
China's Big Five lenders post shrinking margins, warn of property risks
Five of China's largest lenders have posted shrinking net interest margins (NIM), while warning of ongoing property sector risks. Amid a slowing economy, China's lenders are under pressure to reduce interest rates on the loans they make to bolster flagging sectors as demand for lending falls. On Thursday, China Construction Bank Corp (CCB), Bank of China (BoC) and Agricultural Bank of China (AgBank) all reported sliding margins - a key gauge of profitability - in their annual results.
- Benzinga
This Little-Known Chinese Billionaire Went From Working In The Coal Mines To Being One Of The Most Powerful Bankers In The World, Commanding $3.5 Trillion In Assets
Jiang Jianqing, a name synonymous with the remarkable transformation of the Industrial and Commercial Bank of China (ICBC) into the world’s largest bank by assets, has a story that reads like a testament to resilience and visionary leadership. Born in Shanghai in 1953, Jiang’s early life was marked by the hardships of the Cultural Revolution during which he was sent to work in the fields of Jiangxi Province and the coal mines of Henan Province. This period of labor education, far from breaking h
