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

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

Industrial & Commercial Bank of China Ltd. Stock Performance

Shares of IDCBY stock opened at $16.88 on Friday. The company has a market cap of $300.81 billion, a price-to-earnings ratio of 6.07 and a beta of 0.14. The stock has a 50 day simple moving average of $16.37 and a 200-day simple moving average of $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.

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.