Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Industrial & Commercial Bank of China Ltd. (OTCMKTS:IDCBY) released its quarterly earnings results on Friday. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01, Zacks reports. The business had revenue of $27.56 billion during the quarter, compared to analysts’ expectations of $26.53 billion. Industrial & Commercial Bank of China Ltd. had a return on equity of 8.96% and a net margin of 24.10%.

Industrial & Commercial Bank of China Ltd. Stock Up 1.0%

Shares of IDCBY opened at $16.88 on Friday. The company’s 50-day moving average price is $16.37 and its 200 day moving average price is $15.91. Industrial & Commercial Bank of China Ltd. has a 12-month low of $12.38 and a 12-month high of $17.02. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.80. The firm has a market cap of $300.81 billion, a P/E ratio of 6.07 and a beta of 0.14.

Industrial & Commercial Bank of China Ltd. Company Profile

Industrial & Commercial Bank of China Ltd. (ICBC) is a state-owned commercial bank headquartered in Beijing. Founded in 1984, ICBC has grown into one of the world’s largest banking institutions by total assets, operating a diversified financial services business that serves corporate, institutional and retail clients. The bank provides deposit-taking and lending, trade and transaction banking, treasury and markets services, as well as a range of payment and settlement solutions.

ICBC’s product and service offerings span corporate banking, retail banking, and investment banking, including corporate loans, supply‑chain and trade finance, cash management, credit and debit cards, mortgages and consumer finance, wealth-management products, custody and asset-management services.