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Industrial And Commercial Bank Of China (01398): Independent non-executive Director Hu Zuliu has stepped down.
Industrial And Commercial Bank Of China (01398) issued a notice that its independent non-executive Director Hu Zuliu will complete his term in April 2025...
Industrial And Commercial Bank Of China (01398.HK) has completed the issuance of 50 billion yuan of secondary capital bonds.
On April 30, GlobaLink announced that the Industrial And Commercial Bank Of China (01398.HK) has completed the issuance of the 2025 Tier 2 Capital Bonds (Phase II) (Bond Connect) ("this bond") in the national interbank bond market recently. The issuance scale of this bond is 50 billion yuan, with a variety of 10-year fixed-rate bonds, having a conditional call option for the issuer at the end of the 5th year, with a coupon rate of 1.98%.
Industrial And Commercial Bank Of China (01398.HK): Hu Zuliu has resigned from the position of independent non-executive Director.
Gelonghui, April 30: Industrial And Commercial Bank Of China (01398.HK) announced that independent non-executive director Hu Zuliu will no longer serve as an independent non-executive director starting from April 30, 2025, as his term has expired. He will also no longer hold the positions of chairman and member of the Board of Directors' Nomination Committee, as well as member of the Global Strategy Committee, Audit Committee, and Remuneration Committee.
Industrial And Commercial Bank Of China (601398.SH): The issuance of the 2025 subordinated capital Bonds (Phase II) (Bond Connect) has been completed.
On April 30, Gelonghui reported that the Industrial And Commercial Bank Of China (601398.SH) announced that, with the approval of relevant regulatory authorities, China Industrial And Commercial Bank Co., Ltd. (referred to as the bank) has recently completed the issuance of 2025 Tier 2 Capital Bonds (Second Phase) (Bond Connect) (referred to as this bond) in the national interbank bond market. The issuance scale of this bond is 50 billion yuan, with a variety of 10-year fixed-rate bonds, which includes a conditional issuer redemption right at the end of the 5th year, and the coupon rate is 1.98%. The funds raised from this bond, after deducting issuance costs, will be used to supplement the bank in accordance with applicable laws and the approval of regulatory authorities.
UBS Group: Industrial And Commercial Bank Of China’s net income in the first quarter disappointed expectations, with a target price of 5.98 Hong Kong dollars.
UBS Group released a Research Report stating that Industrial And Commercial Bank Of China (01398) had a Net income decrease of 4% year-on-year in the first quarter of the fiscal year 2025, which is lower than UBS Group's expectations and the worst performance among the four major banks; total revenue decreased by 2.6% year-on-year, slightly below UBS Group's expectations; core income decreased by 2.5% year-on-year; Trade and investment income significantly fell by 34.2% under adverse conditions in the Bonds market; operating costs rose by 1.5% year-on-year, leading to a 3.9% year-on-year decline in operating profit before provisions; provisioning expenses decreased by 4.9% year-on-year. UBS Group expects the market to have a slight negative reaction to ICBC's first-quarter performance, setting the Target Price for ICBC's H shares at HKD 5.98.
UBS Group: Assigns a "Buy" rating to China Construction Bank Corporation with a Target Price of 7.4 HKD.
UBS Group released a Research Report stating that China Construction Bank Corporation (00939) reported first-quarter results that fell short of expectations, with revenue and net income declining more than the other three major domestic banks, anticipating a negative market reaction. UBS Group has rated China Construction Bank Corporation's H shares as "Buy", with a Target Price of 7.4 Hong Kong dollars. The report noted that the net income for China Construction Bank for the first quarter was 83.4 billion yuan, a year-on-year decrease of 4%, lower than the bank's expectations, and worse than the other three major domestic banks (excluding Industrial and Commercial Bank of China). Revenue fell by 4.8% year-on-year, also worse than UBS Group's expectations. Additionally, UBS Group indicated that the net interest margin for China Construction Bank in the first quarter narrowed by 7 basis points from the previous quarter to 1.41%, still the highest among the four major state-owned domestic banks. However, the fi
Chris Ivan Ang : Results below expectations. Market acting all scared.