Clash Of The Titans: ICBC Vs. Wells Fargo, JPMorgan Chase, And Bank Of America
- ICBC's 2013 earnings were announced on March 27th. Net profit rose 10.2%.
- ICBC is trading at a significant discount to its global peers. Onshore A-shares are trading at 0.95x P/B.
- Despite high borrowing costs faced by ICBC, net interest margin remains stable.
- Concerns over asset quality and NPL maybe exaggerated.
- ICBC offers a 7% dividend yield.