Industrial and Commercial Bank of China Limited (HKG: 1398)

Industrial and Commercial Bank of China Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	1,429,509	1,405,039	1,278,674	1,162,218	1,092,521	1,063,445
Interest Paid on Deposits	797,533	750,026	586,689	471,538	445,756	431,228
Net Interest Income	631,976	655,013	691,985	690,680	646,765	632,217
Net Interest Income Growth (YoY)	-6.84%	-5.34%	0.19%	6.79%	2.30%	10.43%
Income From Trading Activities	14,669	14,928	8,308	8,955	2,222	8,447
Gain (Loss) on Sale of Assets	1,631	1,925	1,590	2,182	1,323	1,264
Gain (Loss) on Sale of Investments	23,640	21,560	7,906	16,440	11,829	-3,682
Other Non-Interest Income	107,635	113,032	132,563	142,623	137,936	137,756
Total Non-Interest Income	147,575	151,445	150,367	170,200	153,310	143,785
Non-Interest Income Growth (YoY)	-0.78%	0.72%	-11.65%	11.02%	6.62%	-28.56%
Revenues Before Loan Losses	779,551	806,458	842,352	860,880	800,075	776,002
Provision for Loan Losses	129,333	149,519	179,200	202,623	198,858	175,479
Revenue	650,218	656,939	663,152	658,257	601,217	600,523
Revenue Growth (YoY)	-1.41%	-0.94%	0.74%	9.49%	0.12%	-2.40%
Salaries and Employee Benefits	141,722	141,405	142,633	139,363	126,572	126,950
Occupancy Expenses	27,970	28,534	28,822	28,822	27,960	27,713
Amortization of Goodwill & Intangibles	4,682	4,429	3,716	3,125	2,607	2,315
Other Non-Interest Expense	64,153	64,330	64,180	64,917	49,446	50,798
Total Non-Interest Expense	233,426	233,676	234,955	233,358	205,281	205,256
EBT Excluding Unusual Items	416,792	423,263	428,197	424,899	395,936	395,267
Asset Writedown	-1,297	-1,297	-3,477	-	-3,810	-3,478
Pretax Income	415,495	421,966	424,720	424,899	392,126	391,789
Income Tax Expense	53,803	56,850	62,610	74,683	74,441	78,428
Earnings From Continuing Operations	361,692	365,116	362,110	350,216	317,685	313,361
Minority Interest in Earnings	-976	-1,123	-978	-1,878	-1,779	-1,137
Net Income	360,716	363,993	361,132	348,338	315,906	312,224
Preferred Dividends & Other Adjustments	14,992	14,964	14,810	9,607	8,839	4,525
Net Income to Common	345,724	349,029	346,322	338,731	307,067	307,699
Net Income Growth	-0.69%	0.79%	3.67%	10.27%	1.18%	4.89%
Basic Shares Outstanding	356,407	356,407	356,407	356,407	356,407	356,407
Diluted Shares Outstanding	356,407	356,407	356,407	356,407	356,407	356,407
Shares Change (YoY)	22.95%	-	-	-	-	-
EPS (Basic)	0.97	0.98	0.97	0.95	0.86	0.86
EPS (Diluted)	0.97	0.98	0.97	0.95	0.86	0.86
EPS Growth	-18.44%	0.96%	2.11%	10.47%	0%	4.88%
Dividend Per Share	0.450	0.306	0.303	0.293	0.266	0.263
Dividend Growth	48.20%	0.96%	3.48%	10.26%	1.22%	4.87%
Effective Tax Rate	12.95%	13.47%	14.74%	17.58%	18.98%	20.02%

Source: S&P Capital IQ. Banks template. Financial Sources.