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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Industrial and Commrcl Bank of China Ltd    601398   CNE000001P37

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Industrial and Commrcl Bank of China : Chief privacy officer 'pleased' with B.C. auto insurer's info-sharing practices

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09/13/2017 | 08:02pm CET

VANCOUVER — An audit by British Columbia's privacy commissioner has found the information-sharing practices of B.C.'s public auto insurer are, for the most part, "reasonable and proportionate."

Acting commissioner Drew McArthur says in a report that he is pleased with the findings, but the Insurance Corporation of B.C. still has room to improve and he has made 12 recommendations, including better tracking and review of third-party access to information.

The province's Office of the Information and Privacy Commissioner announced in February its intention to look into ICBC's information-sharing agreements in order to ensure the public body was properly protecting the private information of B.C. drivers.

ICBC has come under fire in recent months as successive reports forecast the need for drastic rate hikes to save the floundering corporation from economic collapse.

B.C.'s first NDP government created ICBC in the 1970s to offer affordable, universal and basic auto coverage to the province's drivers, but critics say political interference in the intervening years has pushed the Crown corporation into financial distress.

Since taking office earlier this year, the New Democrats announced a rate increase for basic insurance by 6.4 per cent, pledged to audit ICBC's operations and look for ways to reduce collisions, including broadening the use of red light cameras and cracking down on distracted driving.

© 2017 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials ( CNY)
Sales 2017 687 B
EBIT 2017 437 B
Net income 2017 283 B
Debt 2017 -
Yield 2017 3,76%
P/E ratio 2017 7,85
P/E ratio 2018 7,48
Capi. / Sales 2017 3,12x
Capi. / Sales 2018 2,91x
Capitalization 2 146 B
Chart INDUSTRIAL AND COMMRCL BAN
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Industrial and Commrcl Ban Technical Analysis Chart | 601398 | CNE000001P37 | 4-Traders
Technical analysis trends INDUSTRIAL AND COMMRCL BAN
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 6,39  CNY
Spread / Average Target 2,6%
EPS Revisions
Managers
NameTitle
Shu Gu President & Executive Director
Hui Man Yi Chairman
Wen Hui Qian Chairman-Supervisory Board
Wen Wu Zhang General Manager-Finance & Accounting
Wei Zhang Member-Supervisory Board & GM-Legal Affairs
Sector and Competitors
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INDUSTRIAL AND COMMRCL BANK OF CHINA LTD38.78%325 304
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BANK OF AMERICA20.95%278 080
WELLS FARGO-1.91%266 401
CHINA CONSTRUCTION BANK CORPORATION30.88%243 007
BANK OF CHINA LTD13.95%212 387