Diversified Banks

ICBC

TSMC

Conference Minutes

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Below is Dolphin Research's Trans of the Q4 2025 earnings call for $Taiwan Semiconductor(TSM.US). For our earnings analysis, please see 'TSMC: the real heavyweight in AI — who would say no?'.Key takeaways from the call are summarized below. We highlight capex plans and spending mix.a) Capex: for 2026, raised to $52-56bn (+$11-15bn YoY), vs prior street $48-50bn. Allocation: 70-80% for advanced nodes, ~10% for specialty technologies...

Applied Materials

Taiwan Semiconductor

INDUSTRIAL & COMMERCIAL BK OF CHINA UNSP ADR EACH REPR 20 ORD SHS

TSM (Trans): Capex to rise by tens of billions YoY, a decision made after talks with downstream customers.

ICBC's Liu Jun: Will Deepen Tech Finance Services in Three Aspects to Serve Real Economy

ICBC Singapore Branch Signs Agreement for Digital RMB Cross-border Settlement Platform

ICBC Asia Signs Agreement to Become First Direct Participant of CBETS

Gold Price Plunge Cools Accumulated Gold Market, Banks Launch Aggressive Relaxation to Attract Investors

ICBC completes issuance of 50 billion RMB 10-year tier 2 capital bond to supplement capital

ICBC's $300M Note and 2.8B RMB Green Bond Issuance Oversubscribed

ICBC Chairman Liao Lin Meets CP Group Chairman Chearavanont, Discusses Deepening Comprehensive Financial Cooperation

ICBC completes issuance of RMB 20 billion perpetual capital bond with 1.89% coupon for first 5 years

ICBC Ningbo Branch Fined 3.8 Million RMB for Internal Control and Credit Violations

Former Vice President of ICBC Gansu Branch Lv Hongxiao Expelled from Party and Public Office

Kazakhstan Successfully Issues First 3.4 Billion CNY Sovereign Panda Bond

ICBC Manufacturing Loan Balance Surpasses 5 Trillion Yuan, Underwrites Over 100 Billion Yuan in Sci-Tech Bonds in 2025

Bank Wealth Management Subsidiaries Accelerate Equity Market Entry, Highlighting IPO and Net Subscription Performance

Shanghai Gold Exchange Absorbs ICBC as International Member

ICBC Deploys 'Zhidaitong' AI Agent Matrix to Solve Financing Difficulties in Xinjiang Cotton Region

ICBC Adjusts Risk Level of Gold Accumulation Business

ICBC Launches 'GYXY' Fund Sales Service Brand

ICBC Adjusts Risk Grades for 如意金积存 Business

JPMorgan Reports: ICBC's Q1 Earnings Beat Expectations

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Shanghai and Shenzhen A-shares declined midday, with the Shanghai Composite down 0.37% and the Shenzhen Component falling 1.83%. While major indices retreated from recent peaks, banking stocks rose, led by ICBC. Conversely, EV battery maker CATL dropped 1.8%, though domestic GPU makers like Moore Threads surged over 7%. Pharmaceutical stocks outperformed significantly, with Xinhua Pharma, Teyi Pharma, and Hainan Haiyao hitting daily limits.

AASTOCKS News

Shenzhen Index

SSE Index

HAINAN HAIYAO

Xinhua Pharm

CATL

Moore Threads

SHANDONG XINHUA

TY PHAR.

Guotai SSE STAR Brand Name Drug ETF

Yinhua CSI Innovative Drugs Industry ETF

Fullgoal CSI 800 Banks ETF

Shanghai and Shenzhen A Shrs Midday Down 0.4% to 2.3%; Banks and Pharma Stocks Buck Trend

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Jiangsu Lopal Tech (HK:2465) announced a RMB1 billion investment in a 30-day structured deposit with ICBC. The product guarantees principal and offers an expected annualized return of 0.65% to 2.00%, pegged to EUR/USD. This transaction, combined with existing holdings, triggers disclosure obligations under Hong Kong Listing Rules but does not require shareholder approval, reflecting the company's conservative treasury management strategy.

Tip Ranks

LOPAL TECH

LOPAL

Jiangsu Lopal Tech Invests RMB1 Billion in ICBC Structured Deposit

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HSBC

HSBA

HSBH

Global banks like ICBC, Standard Chartered, and HSBC are gaining focus due to record panda bond issuance and relaxed Chinese capital controls. These institutions benefit from increased cross-border RMB flows and yuan internationalization. However, investors must weigh these tailwinds against risks such as margin pressure, policy lending, credit quality issues, and valuation concerns.

- Global banks are gaining attention as panda bond issuance surges and China relaxes capital controls, prompting foreign borrowers to seek cheaper yuan funding.  
- The article examines three banks—Industrial and Commercial Bank of China, Standard Chartered, and HSBC Holdings—highlighting their exposure to yuan internationalization and cross-border liquidity opportunities.  
- Investors are encouraged to consider potential risks and benefits regarding margins, governance issues, and credit quality to determine whether these stocks merit closer scrutiny in their portfolios.

Simplywall

Standard Chartered PLC

HSBC HOLDINGS

STANCHART

HSBC Holdings Plc

HSBC Holdings plc ADRhedged

Alphabet

Alphabet - C

HSBC 5xShortSG241213

Industrial And Commercial Bank Of China Stock And The Yuan Tailwind

BBVA

First Abu Dhabi Bank (FAB) is marketing a three-year Euro green benchmark senior unsecured issuance, with IPTs at mid-swap plus 100-105 bps. The offering, under FAB’s $20 billion EMTN programme, expects a rating in line with the bank's Aa3/AA-. Net proceeds will fund 'Green' projects per FAB’s Sustainable Finance Framework. Joint lead managers include BBVA, HSBC, ICBC, Societe Generale, and Standard Chartered. Listing on the London Stock Exchange Main Market is expected.

- First Abu Dhabi Bank is issuing a three-year Euro green benchmark senior unsecured bond, rated Aa3 by Moody’s and AA- by S&P and Fitch.  
- The issuance is part of the bank’s $20 billion Euro Medium Term Note Programme, with proceeds directed towards funding eligible 'Green' projects.  
- Joint lead managers include BBVA, HSBC, and Standard Chartered Bank, with pricing expected today and a listing on the London Stock Exchange to follow.

Zawya

Banco Bilbao Vizcaya Argentaria

Moodys

S&P Global

London Stock Exchange Group plc

ZAWYA: Abu Dhabi’s FAB mandates 3-year Euro green benchmark; IPTs out

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PBOC Governor Pan Gongsheng announced at the 2026 Lujiazui Forum that six banks—ICBC, ABC, BOC, CCB, BoCom, and CITIC—are authorized to conduct offshore RMB foreign-exchange trading in the Shanghai FTZ using the China Foreign Exchange Trade System platform. The pilot aims to promote the development of the offshore RMB FX market based on its results.

CoinLive

BANKCOMM

Bank of China

BANK OF CHINA

Bank Of China

CNCB

China Construction Bank

Bank Of Communications

CITIC BANK

BOC HONG KONG

STOCKS | PBOC Authorizes Six Banks for Offshore RMB FX Trading Pilot in Shanghai FTZ

ICBC (Asia) signed a CBETS Direct Participant Agreement with the Digital RMB International Operation Center, becoming one of the first overseas banks to directly join the Cross-Border Interbank Payment System (CBETS). Signed at the 2026 China International Financial Exhibition in Shanghai, this move aims to optimize cross-border fund-clearing routes and enhance transfer efficiency. ICBC (Asia) can now open settlement wallets in the central bank’s digital renminbi system for direct inter-institutional digital currency settlement.

ICBC (Asia) Signs CBETS Direct Participant Agreement With Digital RMB Operator

Industrial and Commercial Bank of China (ICBC) has raised RMB50 billion by issuing 10-year Tier 2 Capital Notes via Bond Connect. The fixed-rate notes carry a 1.95% coupon with an issuer call option after five years. Net proceeds will strengthen ICBC's Tier 2 capital to meet regulatory requirements and support growth, underscoring the bank's reliance on domestic bond markets for capital adequacy.

ICBC Raises RMB50 Billion Through Tier 2 Capital Notes to Bolster Capital Base

ICBC Dubai raised $300 million via three-year floating-rate notes and CNH 2.8 billion in fixed-rate green bonds. The USD issuance priced at SOFR +35 bps with strong Asian demand, while the RMB bond spread tightened to +1.64%. Both issuances were oversubscribed and listed on HKSE, LSE, and Nasdaq Dubai under ICBC's GMTN programme.

HKEX

Nasdaq

HKEX-R

Hong Kong Exchanges and Clearing (HKEX)

ZAWYA: ICBC Dubai prices $300mln FRN, CNH2.8bln fixed-rate green bonds

ICBC(01398.HK)