Date
23 October 2017

ICBC among global systemically important banks, report says

Industrial and Commercial Bank of China Ltd. (ICBC) ( 01398.HK, 601398.CN) has been included in the annual list of global systemically important banks (G-SIBs), Xinhua news agency reported on Tuesday, citing an online statement from the lender. The state-owned lender is the latest to be included in the annual G-SIBS list published by the Financial Stability Board (FSB), an international organization monitoring and coordinating the world’s financial systems, the report said. The updated list has 28 banks.  According to ICBC’s interim results, the bank’s capital adequacy ratio stood at 13.11 percent by the end of June, higher than the lowest standard level of 10.5 percent set by the FSB. In 2012, ICBC topped the world’s financial industry in assets, deposits, loans, capital, market value and profit, the report said.

– Contact HKEJ [email protected]

CG

 

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