Industrial and Commercial Bank of China (ICBC)
The Industrial and Commercial Bank of China or ICBC is a joint stock limited company established on 1 January 1984. On 27 October 2006, the Bank was successfully listed on both Shanghai Stock Exchange and The Stock Exchange of Hong Kong Limited (Details from the ICBC official website's "About Us" page).
The ICBC was established by the Communist Party of China (CCP) to separate the function of the central bank, the People's Bank of China (PBC), from the industrial and commercial credit and savings business previously handled by the PBC.
Loan rate cut weighs on Chinese banks’ interest margins, profits
Loan rate cut weighs on Chinese banks’ interest margins, profits
China Construction Bank, ICBC, and CITIC Bank will be most negatively affected.
China deems 19 banks 'too big to fail'
These banks face new capital and regulatory requirements.
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