The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

ICBC faces up to challenges of capital and identity

The bank had a good year, keeping profits high and bad loans low. But the big challenges of the 2020s start now.

You don’t get bigger or more stable than Industrial and Commercial Bank of China. The Beijing-based outfit, overseen by chairman Chen Siqing, is the world’s largest commercial lender by assets.

Net profits rose 9.87% year on year in the first half of 2021, to Rmb163.5 billion ($25.6 billion), and by 10.6% on an annualised basis in the three months to the end of September.

Trading income, a key driver of growth all year, jumped 261% year-on-year in the third quarter, to Rmb10.1 billion, with operating income up 9.9% over the same period, to Rmb217.5 billion.

Across the board, ICBC’s numbers reflect the bank’s position at the heart of an economy tipped by the IMF to expand by 8% in 2021, but then to see growth slip into the 5% to 6% range.

Chen Siqing

Its non-performing loan ratio was 1.52% at the end of September 2021, down from 1.58% at the end of last year. Returns on equity and assets were 11.9%

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree