Research Notes · China
Industrial and Commercial Bank of China Limited (ICBC)
ICBC is a state-controlled universal bank listed in Shanghai (601398) and Hong Kong (1398), with a fiscal year ending December 31. At September 30, 2026, it held ¥57.82 trillion in assets and ¥39.75 trillion in customer deposits, while manufacturing loans exceeded ¥6 trillion. The Ministry of Finance holds a 31.14% stake. A- and H-shares total 356.4 billion. Capital actions: The state injected ¥300 billion through special sovereign bonds, and ICBC has announced a ¥100 billion private placement.
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