by Amruth Sundarkumar | Oct 3, 2022 | Banks, China
The People’s Bank of China (PBOC) has told six of its largest state-owned banks to provide at least CNY 600bn ($85bn) in funding to the state’s troubled real estate sector, according to Bloomberg. In the last four months of 2022, the banks which include ICBC and China...
by Amruth Sundarkumar | Sep 17, 2021 | Banks
ICBC raised $6.16bn via a Perp NC5 AT1 bond at a yield of 3.2%, 45bp inside the initial guidance of 3.65% area. The bonds have expected ratings of Ba1 (Moody’s), and received orders over $9bn, 1.5x issue size. Proceeds will be used to boost ICBC’s capital....
by Megha Malhotra | Aug 30, 2021 | Financial News
Three of the largest Chinese banks, Industrial and Commercial Bank of China (ICBC), Bank of Communications Co Ltd (BoCom) and China Construction Bank Corp (CCB) reported robust results for 1H2021 on Friday indicating an improvement in economic activity. ICBC,...
by bondevalue | Apr 30, 2021 | China, Financial Institutions
China’s large state-owned banks reported earnings in-line with estimates: China Construction Bank (CCB) led profit growth, up 2.8% YoY, reporting a net income of CNY 83.1bn ($12.9bn). Impairment losses rose to CNY 52.3bn ($8.1bn). The lender reported an NPL ratio of...
