Industrial and Commercial Bank of China Limited

1398
Failed

Company Overview

The Industrial and Commercial Bank of China was established on January 1, 1984. On October 28, 2005, the Bank as a whole was restructured as a company limited by shares. On October 27, 2006, the Bank successfully listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange on the same day. The Bank is committed to building a world-class modern financial enterprise with Chinese characteristics, with a high-quality customer base, diversified business structure, strong innovation ability and market competitiveness. The Bank takes service as its foundation, insists on creating value through service, provides rich financial products and high-quality financial services to over 10 million corporate customers and 720 million individual customers around the world, and serves high-quality economic and social development with its own high-quality development. The Bank has consciously incorporated social responsibility into development strategies and management activities, and has been widely praised for serving the manufacturing industry, developing inclusive finance, supporting rural revitalization, developing green finance, and supporting public welfare undertakings. The Bank always focuses on its main business, insists on serving the real economy, coexists, shares ups and downs, and grows with the real economy; always adheres to risk-based, firmly maintains the bottom line, and continuously improves the ability to control and mitigate risks; always insists on grasping and following the business rules of commercial banks, and is committed to building a “century-old store”; always insists on steady progress, innovation and progress, and continues to deepen key development strategies; actively develop fintech and accelerate digital transformation; always adhere to professional focus, develop specialized business models, and forge “big craftsmen”. The Bank has been at the top of the UK's “Banker” list of the top 1000 global banks for ten consecutive years and the number one global commercial bank in the US “Fortune” 500 list, and has been at the top of the UK Brand Finance Global Brand Value 500 list for seven consecutive years.

Country
HK
Market Cap
$174.55B
Last Fiscal Year
2023
Final Shariah Status
Failed
Compliance Analysis Overview

Shariah Compliance Benchmarks:

  • Business Compliance: Non-Shariah compliant revenue must be less than 5% of total revenue
  • Liabilities Compliance: Interest-bearing debt must be less than 33% of market capitalization
Business Compliance
46.36% failed
5% Threshold
46.4%
Liabilities Compliance
165.52% failed
33% Threshold
165.5%
Final Shariah Status
Failed

This stock does not meet all Shariah compliance criteria according to AAOIFI standards.

Stock Information
Name Industrial and Commercial Bank of China Limited
Ticker 1398
Main Business Banks - Diversified
Type Common Stock
Industry Banks - Diversified
Country HK
Market Cap $174.55 B

Shariah Analysis Breakdown

Business compliance Breakdown
Revenue Segment Value ($M) Non-Compliant ($M) Reason
Corporate financial business $201,770.0 $201,770.0 financial
Personal financial business $168,940.0 $168,940.0 financial
Fund business $55,460.0 $0.0 -
Other $2,730.0 $0.0 -
Interest income $0.0 $0.0 -
Total $428,900.0 $370,710.0 46.36% (failed)
Liabilities Compliance Breakdown
Liability Item Value ($M) % of Market Cap
bonds issued $191,876,750,700.3 109.93%
derivative financial liability $10,679,271,708.7 6.12%
certificates of deposit issued $53,949,579,831.9 30.91%
borrowing from the central bank $32,404,761,904.8 18.56%
Total Interest-Bearing Debt $288,910,364,145.7 165.52%
Market Capitalization $174,549,512,820.5 100.00%
Compliance Status Threshold: 33% failed