Connect with us

Hi, what are you looking for?

News

Industrial & Commercial Bank of China Ltd. (IDCBY) Q3 2023 Earnings Call Transcript

Industrial & Commercial Bank of China Ltd. (OTCPK:IDCBY) Q3 2023 Earnings Call Transcript October 27, 2023 5:00 AM ET

Company Participants

Wang Liancheng – GM, Corporate Strategy and Investor Relations Department

Conference Call Participants

Wang Liancheng

Dear investors and analysts, welcome to ICBC Q3 Earnings Call. I’m Wenwu Zhang, GM of Corporate Strategy and IR department. Today, Board Secretary [indiscernible] and other management personnel from departments and subsidiaries are here to communicate with you. Our directors are also online. They are only on [indiscernible].

Our Q3 results have been released online. We can see that the Q3 results continue the robust performance, core indicators are stable and robust [indiscernible] totaled RMB269.9 billion, up by 0.8%. ROA was 0.86%. ROE was 10.56%, leading the peers. Net interest margin was 1.67%. The decrease was the same as Q3, Q2 and the trajectory is the same with the main peers. NPL ratio was 1.36%, slightly lower compared with the beginning and the [indiscernible] difference continue to be native for 14 consecutive quarters as the quality improved further. Capital adequacy ratio was 18% more and provision coverage ratio was over 200%.

The deposit and loan increased robustly. The loans increased more than RMB2.5 trillion investments improved by more than RMB850 billion, and the deposit increased over RMB4 trillion savings, corporate and institutional loans increased all the peers. In the government business and customer GBC plus customer ecology and DIC DC, the digital ecology continue to optimize personal customers increased to 736 million corporate customers over 1.8 million. All kinds of customer base continue to solidify in the active customers of mobile banking exceeded 200 million with ever-growing innovation.

This is a brief introduction of our Q3 results. Now we enter the Q&A session. Please identify yourself before raising questions. Thank you.

Question-and-Answer Session

Operator

Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube

Videos

Watch full video on YouTube