ICBC stock holds steady after Daiwa starts coverage

Published on 09/18/2026 at 13:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Daiwa started ICBC stock at Hold with a HKD 7.8 target on September 18, 2026. The shares closed at HKD 7.520 and were up 23.94 percent year to date.

ICBC, CNE1000003G1, Illustration mit AI erstellt.

Industrial and Commercial Bank of China Limited (CNE1000003G1) stock closed at HKD 7.520 on September 17, 2026, after Daiwa started coverage on September 18, 2026 with a Hold rating and a HKD 7.8 target price. The bank's shares were up 23.94 percent year to date, while the market value stood at HKD 2.68 trillion.

Coverage turns cautious

According to Futu News on September 18, 2026, Daiwa called ICBC a high-yield stock and said the current share price looked broadly reasonable. It also said the bank allocates 36 percent of its loan book to state-owned enterprises and infrastructure, a mix Daiwa described as defensive in a credit-downward cycle.

That same note projected a net interest margin of 1.28 percent for 2025, compared with 1.29 percent for the four major state-owned banks on average. Daiwa also expected the non-performing loan ratio to ease from 1.38 percent in 2022 to 1.31 percent in 2025, while loan loss reserve coverage rises to 214 percent.

Growth stays measured

According to the same Futu News report, Daiwa expects ICBC's total operating income to grow by 4 percent to 8 percent annually from 2026 to 2028. Net profit is projected to rise by about 3.1 percent to 6.6 percent a year, and the current share price implies a forward price-to-book ratio of 0.55x for 2026.

The stock's own pricing backdrop supports that reading. On Yahoo Finance, ICBC's Hong Kong listing closed at HKD 7.520 on September 17, 2026, within a 52-week range of HKD 5.560 to HKD 7.765 and on volume of 108,086,832 shares.

Stock near the range high

ICBC stock last traded at HKD 7.520 on September 17, 2026, just 3.2 percent below the 52-week high of HKD 7.765. Market capitalization was HKD 2.68 trillion, and the stock was down 0.20 percent on the day.