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World's largest bank by assets; China's biggest state-owned commercial bank offering retail, corporate and international banking.
World's largest bank by assets; China's biggest state-owned commercial bank offering retail, corporate and international banking.
Earns mostly from the spread between interest paid on deposits and charged on loans, lent largely to corporates and state-linked borrowers, with fees from wealth products and cards as the smaller line. The Ministry of Finance and Central Huijin are its controlling shareholders. These Hong Kong shares and the Shanghai ones are the same bank.
In one line: China's JPMorgan Chase, state-owned.
Moat: wide (scale, regulatory licence, distribution). World's largest bank by assets with a state-backed nationwide branch network and deposit base.
Headquarters: Beijing, China · Founded: 1984 · Employees: 409,758
Size ICBC (1398.HK) is a Hong Kong Financials company (Major Banks) with a market value of $433B, the 2nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$7.95 on 6 Nov 2026.
Performance Over six months the shares gained 13.7%, against +14.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 4.9% over the last twelve months (peer median +4.8%); the operating margin is 51.2% (peer median 43.4%).
Valuation It trades at 0.60× book value against a peer median of 1.41× (cheapest of 21).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | n/a | HK$1.64T | HK$1.72T | HK$1.73T | HK$1.67T |
| Revenue growth | — | -5% | -1% | +4% | — |
| Net income | n/a | HK$400B | HK$397B | HK$419B | HK$420B |
| Free cash flow | n/a | HK$456B | HK$515B | HK$1.09T | HK$930B |
| Capital expenditure | n/a | HK$53.1B | HK$46.9B | HK$26.9B | HK$33.2B |
| Total debt | HK$14.0T | HK$11.4T | HK$9.00T | HK$5.66T | HK$5.69T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| ICBC 1398.HK | $433B | +14% | -5% | 9% | 0.60× | 4.9% |
| CCB 0939.HK | $361B | +22% | +6% | 10% | 0.64× | 5.1% |
| Agricultural Bank of China 1288.HK | $384B | +15% | +7% | 11% | 0.71× | 5.3% |
| Bank Of China 3988.HK | $309B | +22% | +5% | 9% | 0.60× | 4.7% |
| JPMorgan Chase JPM | $889B | +11% | +9% | 18% | 2.53× | 20.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1398.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.9% | +2.3% | 7th highest of 21 |
| 6-month return | +13.7% | +14.6% | 10th lowest of 21 |
| Return on equity | 9.5% | 12.8% | 3rd lowest of 21 |
| Price / book | 0.60× | 1.41× | cheapest of 21 |
| Trailing P/E | 7.3× | 11.5× | 5th cheapest of 21 |
| ROE the price implies | 4.9% | 12.1% | 4th least demanding of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| ICBC 1398.HK | Hong Kong | $433B | +14% | -5% | 9% | 0.60× | 4.9% | n/a |
| Industrial and Commercial Bank of China 601398.SS | China | $428B | +13% | -4% | 10% | 0.75× | 2.7% | n/a |
| Agricultural Bank of China 1288.HK | Hong Kong | $384B | +15% | +7% | 11% | 0.71× | 5.3% | 10.6% |
| CCB 0939.HK | Hong Kong | $361B | +22% | +6% | 10% | 0.64× | 5.1% | 9.9% |
| China Construction Bank 601939.SS | China | $358B | +20% | -5% | 10% | 0.87× | 3.0% | 9.8% |
| Bank of America BAC | United States | $341B | -3% | -1% | 11% | 1.26× | 12.9% | 10.7% |
| Bank Of China 3988.HK | Hong Kong | $309B | +22% | +5% | 9% | 0.60× | 4.7% | 8.9% |
| HSBC HSBA.L | United Kingdom | $301B | -1% | -4% | 14% | 1.51× | 17.5% | 13.6% |
| Royal Bank of Canada RY.TO | Canada | $281B | +15% | +5% | 16% | 2.94× | 18.4% | 16.2% |
| Wells Fargo WFC | United States | $252B | +11% | +6% | 13% | 1.59× | 13.3% | 12.9% |
| Mitsubishi Ufj Financial 8306.T | Japan | $230B | +14% | +11% | 13% | 1.60× | 11.2% | 12.6% |
| JPMorgan Chase JPM | United States | $889B | +11% | +9% | 18% | 2.53× | 20.7% | 17.9% |
| Toronto-Dominion Bank TD.TO | Canada | $208B | +18% | -11% | 13% | 2.48× | 15.3% | 12.8% |
| Citigroup C | United States | $200B | -5% | +5% | 9% | 1.03× | 10.9% | 9.1% |
| Commonwealth Bank of Australia CBA.AX | Australia | $194B | +9% | +1% | 14% | 3.56× | 33.3% | 13.9% |
| Banco Santander SAN.MC | Spain | $174B | +4% | +15% | 13% | 1.40× | 17.1% | 13.1% |
| Cm Bank 3968.HK | Hong Kong | $165B | +16% | +3% | 13% | 0.99× | 10.2% | 13.3% |
| China Merchants Bank 600036.SS | China | $164B | +12% | +9% | 14% | 0.94× | 5.4% | 13.6% |
| DBS D05.SI | Singapore | $155B | +19% | -5% | 16% | 2.83× | 21.4% | 16.3% |
| Sumitomo Mitsui Financial 8316.T | Japan | $145B | +35% | +11% | 11% | 1.42× | 10.0% | 11.2% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |