ICBC Posted Slowing Top-Line Growth; Management Hints at Improved Outlook for NIM and Credit Quality
With 0.4% net profit growth, Industrial and Commercial Bank of China’s, or ICBC's, 2016 results were not outstanding. However, management’s outlook for 2017 was more optimistic than our expectations. Similar to peers, ICBC’s total revenue dropped 3% from 2015 on a 7.1% net interest income decline, partially offset by 1.1% in fee income growth. Preprovision operating profits inched up 0.4%, boosted by a 59% drop in business tax due to increased investment in government bonds, which are tax-exempt...INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED is a China-based company principally engaged in the provision of banking and related financial services. The Bank mainly operates three segments, including Corporate Banking segment, Personal Banking segment and Treasury segment. The Corporate Banking segment provides loan, trade financing, deposit, corporate finance, custody and other related financial products and services to enterprises, government agencies and financial institutions. The Personal Banking segment provides loan, deposit, bank card, personal finance and other related financial products and services to individual customers. Treasury segment includes money markets business, securities investment business, self and valet foreign exchange trading and derivative financial instruments business. The Company conducts its businesses within domestic and overseas markets.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.