Industrial and Commercial Bank of China
From Taighde
| Industrial and Commercial Bank of China | |
|---|---|
| Official Name: | 中国工商银行
|
| Country: | China
|
| Description: | Financial institution
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| Chairman: | Jiang Jianqing
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| Inception: | 1984
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| Reports | Sovereign Wealth Funds Contact and Information Report |
Industrial and Commercial Bank of China (ICBC) is the largest of China's Big Four state-owned commercial banks. They are Agricultural Bank of China, Bank of China, China Construction Bank, and Industrial and Commercial Bank of China. The ICBC is the largest bank in the world in terms of market value and one of the world's top 10 banks by assets.
Central Huijin, a unit of the China Investment Corporation, is the largest investor in the bank with 35.3%. In January 2009 the China Investment Corporation bought more of the bank's shares as part of a broader domestic investment plan.[1]
The Qatar Investment Authority invested $206 million in the ICBC's IPO in 2006.
The Kuwait Investment Authority invested $720 million in the ICBC's IPO in 2006.
The ICBC has a separate listing on the Hong Kong exchange.
Government Pension Fund of Norway
The Government Pension Fund of Norway holds a 0.07% stake in the company as of December 31, 2009. The stake is valued at $185,136,214.
| Date | Ownership | Voting | Value |
|---|---|---|---|
| December 31, 2009 | 0.07% | 0.07% | $185,136,214 |
Middle East clients
According to the Financial Times, the ICBC's clients in the ME region are International Petroleum Investment Company, Mubadala, Emirates Airways, Qatar Telecom and Qatar Airways. [2] The last two companies are owned by the Qatar Investment Authority.
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