ICBC Posts Slowing Top-Line Growth; Credit Quality Outlook Mixed
Industrial and Commercial Bank of China's first-half results posted a 0.8% net profit growth against mid-2015. The results reflected slowing top-line growth, with total revenue and preprovision profits increasing 0.4% and 1.4%, respectively, offset by an 82-basis-point improvement in the cost/income ratio to 21.51%. Net interest income declined 7% on slow interest-earning assets growth and a narrowing net interest margin, offset by 6% fee income growth supported by asset-management-related servi...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.
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