ICBC redeems RMB90bn Tier 2 capital bonds ahead of schedule

Industrial and Commercial Bank of China Limited (ICBC) has announced the full redemption of its Tier 2 Capital Bonds, totaling RMB90 billion. These bonds were originally issued in two tranches in September and November 2020 through the National Interbank Bond Market. The fixed-rate bonds carried a 10-year term, with the bank retaining a redemption option on the last day of the fifth interest accrual year.

The specific redemption dates, as stipulated in the original prospectus, were 24 September 2025 and 16 November 2025. As of the date of this announcement, 17 November 2025, ICBC confirmed it had exercised its redemption right, completing the full redemption at face value. This action demonstrates the bank's financial management and capital structure optimization efforts.

The board of directors for Industrial and Commercial Bank of China Limited, as of this announcement date, includes executive directors Liao Lin, Liu Jun, Duan Hongtao, and Wang Jingwu. Non-executive directors comprise Lu Yongzhen, Cao Liqun, Dong Yang, and Zhong Mantao, while independent non-executive directors are Norman Chan Tak Lam, Herbert Walter, Murray Horn, Chen Guanting, and Li Weiping.