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Valley Shu, president of Industrial and Commercial Bank of China (1398.HK) (601398.SS), the largest bank in China in terms of assets, said on Thursday that new LPR-linked loans in the first half of the year accounted for 48% of all new loans issued. Corporate loans are very familiar with ICBC's pricing of LPR.
At the performance statement meeting, he also said that the impact of LPR on ICBC was limited and the net interest margin was under pressure, but it was not easy to assert that it was at the top.
"ICBC is mainly based on the operating characteristics of the assets and liabilities. The asset side pays attention to arranging the assets according to the trend of market interest rates. The liabilities side mainly expands the low-cost sources of funds by broadening the customer base. Therefore, the impact of the net interest margin of ICBC is lower than that of its peers," he said.
According to Gu Shu, Jinzhou Bank, which is deeply concerned about the market, is in trouble when it invests in shares. The upper limit of this investment is RMB 3 billion, which has very little impact on ICBC Group. The main body of investment is ICBC investment. There are many similar investments made by ICBC, which are isolated from the risks of its parent bank.
At that time, the two principles of investment in Jinzhou Bank for ICBC were: first, to invest according to the principle of market-oriented legalization; second, the investment should be controllable and the risk would not be spillover.
Gu Shu also said, "After the transaction, Jinzhou Bank maintained an independent corporate governance system. The future capital increase plan of Jinzhou Bank was decided by the board of directors of Jinzhou Bank. At present, ICBC has no information to disclose."
In support of small businesses, Gu Shu said ICBC would continue to increase financing support for private and small businesses in the second half of the year to ensure steady, orderly and moderate growth of supply to the real economy.
Aiming at the construction of Dawan District, Hu Hao, vice president of ICBC, said that ICBC would increase its investment in Dawan District, including internal and external financing, accelerate the layout and investment in corporate finance and personal finance, including credit tilt and delegation of authority.

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