Executive Summary
Industrial and Commercial Bank of China Limited provides various banking products and services primarily in China and internationally.
Snowflake
Fundamentals
Flawless balance sheet established dividend payer.
Similar Companies
Share Price & News
How has Industrial and Commercial Bank of China's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
0.9%
1398
0.9%
HK Banks
0.3%
HK Market
1 Year Return
4.0%
1398
-3.4%
HK Banks
1.3%
HK Market
Return vs Industry: 1398 exceeded the Hong Kong Banks industry which returned -3.4% over the past year.
Return vs Market: 1398 exceeded the Hong Kong Market which returned 1.3% over the past year.
Shareholder returns
| 1398 | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.9% | 0.9% | 0.3% |
| 30 Day | 4.6% | 2.7% | 0.5% |
| 90 Day | -1.3% | -2.3% | -4.6% |
| 1 Year | 9.2%4.0% | 1.7%-3.4% | 4.9%1.3% |
| 3 Year | 35.7%16.5% | 16.6%0.4% | 15.3%3.7% |
| 5 Year | 40.6%7.6% | 29.6%-0.6% | 20.0%-0.006% |
Price Volatility Vs. Market
How volatile is Industrial and Commercial Bank of China's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Can You Imagine How Industrial and Commercial Bank of China's (HKG:1398) Shareholders Feel About The 12% Share Price Increase?1 month ago | Simply Wall St
What Kind Of Shareholder Appears On The Industrial and Commercial Bank of China Limited's (HKG:1398) Shareholder Register?1 month ago | Simply Wall St
When Should You Buy Industrial and Commercial Bank of China Limited (HKG:1398)?Valuation
Is Industrial and Commercial Bank of China undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 1398 (HK$5.5) is trading below our estimate of fair value (HK$15.14)
Significantly Below Fair Value: 1398 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 1398 is poor value based on its PE Ratio (5.9x) compared to the Banks industry average (5.9x).
PE vs Market: 1398 is good value based on its PE Ratio (5.9x) compared to the Hong Kong market (10.3x).
Price to Earnings Growth Ratio
PEG Ratio: 1398 is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: 1398 is overvalued based on its PB Ratio (0.8x) compared to the HK Banks industry average (0.5x).
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Future Growth
How is Industrial and Commercial Bank of China forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?
5.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 1398's forecast earnings growth (5.6% per year) is above the savings rate (2%).
Earnings vs Market: 1398's earnings (5.6% per year) are forecast to grow slower than the Hong Kong market (11.1% per year).
High Growth Earnings: 1398's earnings are forecast to grow, but not significantly.
Revenue vs Market: 1398's revenue (7.1% per year) is forecast to grow slower than the Hong Kong market (10% per year).
High Growth Revenue: 1398's revenue (7.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 1398's Return on Equity is forecast to be low in 3 years time (12.4%).
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Past Performance
How has Industrial and Commercial Bank of China performed over the past 5 years?
1.6%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: 1398's earnings have grown by 1.6% per year over the past 5 years.
Accelerating Growth: 1398's earnings growth over the past year (4%) exceeds its 5-year average (1.6% per year).
Earnings vs Industry: 1398 earnings growth over the past year (4%) underperformed the Banks industry 5.2%.
Return on Equity
High ROE: 1398's Return on Equity (12.6%) is considered low.
Return on Assets
ROA vs Industry: 1398 has a higher Return on Assets than the Banks industry average last year.
Return on Capital Employed
ROCE Improving: Insufficient data to calculate 1398's Return on Capital Employed to determine if it has improved over the past 3 years.
Next Steps
Financial Health
How is Industrial and Commercial Bank of China's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: 1398 has a low level of unsold assets or inventory.
Debt Coverage by Assets: 1398's debt is covered by short term assets (assets are 3.7x debt).
Financial Institutions Analysis
Asset Level: 1398's level of assets compared to its equity is moderate.
Allowance for Bad Loans: 1398 has a sufficient allowance for bad loans.
Low Risk Liabilities: 1398's liabilities are made up of primarily low risk sources of funding.
Loan Level: 1398 has an acceptable proportion of non-loan assets held.
Low Risk Deposits: 1398's loans are broadly funded by customer deposits.
Level of Bad Loans: 1398 has an appropriate level of bad loans (1.48%)
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Dividend
What is Industrial and Commercial Bank of China's current dividend yield, its reliability and sustainability?
5.05%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: 1398's dividend (5.05%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.26%).
High Dividend: 1398's dividend (5.05%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.18%).
Stable Dividend: 1398's dividends per share have been stable in the past 10 years.
Growing Dividend: 1398's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (29.7%), 1398's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 1398's dividends in 3 years are forecast to be well covered by earnings (30.4% payout ratio).
Next Steps
Management
What is the CEO of Industrial and Commercial Bank of China's salary, the management and board of directors tenure and is there insider trading?
3.3yrs
Average management tenure
CEO
Shu Gu (52yo)
3yrs
Tenure
CN¥672,900
Compensation
Mr. Shu Gu has been the President and Executive Director of Industrial and Commercial Bank of China Limited since October 2016 and December 29, 2016 respectively. He serves as President of Industrial and C ...
CEO Compensation Analysis
Compensation vs. Market: Shu's total compensation ($USD95.08K) is about average for companies of similar size in the Hong Kong market ($USD807.54K).
Compensation vs Earnings: Shu's compensation has been consistent with company performance over the past year.
Management Age and Tenure
3.3yrs
Average Tenure
56yo
Average Age
Experienced Management: 1398's management team is considered experienced (3.3 years average tenure).
Board Age and Tenure
2.7yrs
Average Tenure
61.5yo
Average Age
Experienced Board: 1398's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Company |
| Shares | 82,409,000 |
| Max Price | CN¥5.80 |
| Entity | Company |
| Shares | 72,636,000 |
| Max Price | CN¥5.74 |
| Entity | Company |
| Shares | 92,111,000 |
| Max Price | CN¥5.74 |
| Entity | Company |
| Shares | 96,243,000 |
| Max Price | CN¥5.61 |
| Entity | Company |
| Shares | 111,382,000 |
| Max Price | CN¥5.54 |
| Entity | Company |
| Shares | 93,166,000 |
| Max Price | CN¥5.59 |
| Entity | Company |
| Shares | 117,000,000 |
| Max Price | CN¥5.55 |
| Entity | Company |
| Shares | 108,909,000 |
| Max Price | CN¥5.44 |
| Entity | Company |
| Shares | 21,717,000 |
| Max Price | CN¥6.02 |
| Entity | Company |
| Shares | 17,020,000 |
| Max Price | CN¥5.93 |
Ownership Breakdown
Management Team
Wenwu Zhang (57yo)
General Manager of Finance & Accounting Department
- Tenure: 0yrs
- Compensation: CN¥50.00k
Shu Gu (52yo)
Vice Chairman & President
- Tenure: 3yrs
- Compensation: CN¥672.90k
Hao Hu (57yo)
Senior EVP & Executive Director
- Tenure: 0.4yrs
- Compensation: CN¥618.30k
Xueqing Guan (55yo)
Board Secretary
- Tenure: 3.3yrs
- Compensation: CN¥1.15m
Li Huang (55yo)
Chief Responsible Officer of Internal Audit Bureau & Employee Supervisor
- Tenure: 3.3yrs
Bairong Wang (56yo)
Chief Risk Officer
- Tenure: 3.3yrs
- Compensation: CN¥1.14m
Bresson Xu
Corporate Strategy & Investor Relations
- Tenure: 0yrs
Chen Siqing (59yo)
Chairman of the Board
- Tenure: 0.4yrs
Board Members
Anthony Francis Neoh (73yo)
Independent Non-Executive Director
- Tenure: 4.5yrs
- Compensation: CN¥445.00k
Silas Yang (64yo)
Independent Non-Executive Director
- Tenure: 3.5yrs
- Compensation: CN¥440.00k
Si Shen (66yo)
Independent Non Executive Director
- Tenure: 2.6yrs
- Compensation: CN¥413.30k
Sheila Bair (65yo)
Independent Non-Executive Director
- Tenure: 2.6yrs
- Compensation: CN¥365.00k
Shu Gu (52yo)
Vice Chairman & President
- Tenure: 3yrs
- Compensation: CN¥672.90k
Hao Hu (57yo)
Senior EVP & Executive Director
- Tenure: 0.4yrs
- Compensation: CN¥618.30k
Nout Elisabeth Maria Wellink (76yo)
Independent Non-Executive Director
- Tenure: 0.8yrs
- Compensation: CN¥25.00k
Fuqing Zheng (56yo)
Non-Executive Director
- Tenure: 4.7yrs
Li Huang (55yo)
Chief Responsible Officer of Internal Audit Bureau & Employee Supervisor
- Tenure: 3.3yrs
Chen Siqing (59yo)
Chairman of the Board
- Tenure: 0.4yrs
Company Information
Industrial and Commercial Bank of China Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Industrial and Commercial Bank of China Limited
- Ticker: 1398
- Exchange: SEHK
- Founded: 1984
- Industry: Diversified Banks
- Sector: Banks
- Market Cap: HK$2.210t
- Shares outstanding: 356.41b
- Website: https://www.icbc-ltd.com
Number of Employees
Location
- Industrial and Commercial Bank of China Limited
- No. 55 Fuxingmennei Avenue
- Xicheng District
- Beijing
- 100140
- China
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 601398 | SHSE (Shanghai Stock Exchange) | Domestic Shares | CN | CNY | Oct 2006 | |
| 1398 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Oct 2006 |
| ICK | DB (Deutsche Boerse AG) | Yes | Foreign Shares-Foreign Listed | DE | EUR | Oct 2006 |
| IDCB.F | OTCPK (Pink Sheets LLC) | Yes | Foreign Shares-Foreign Listed | US | USD | Oct 2006 |
| 1398 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Oct 2006 |
| 601398 | XSSC (Shanghai Stock Exchange - Shanghai - Hong Kong Stock Connect) | Domestic Shares | CN | CNY | Oct 2006 | |
| 1398 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Foreign Shares-Foreign Listed | HK | HKD | Oct 2006 |
| ICK | WBAG (Wiener Boerse AG) | Yes | Foreign Shares-Foreign Listed | AT | EUR | Oct 2006 |
| IDCB.Y | OTCPK (Pink Sheets LLC) | UNSPONSORED ADR | US | USD | Oct 2008 |
Biography
Industrial and Commercial Bank of China Limited provides various banking products and services primarily in China and internationally. It operates through Corporate Banking, Personal Banking, and Treasury ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/23 12:41 |
| End of Day Share Price | 2019/10/23 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.