ICBC reports $151.8m exposure to Lehman
18 September 2008
Industrial and Commercial Bank of China (ICBC) said its mainland and overseas branches would not be strongly impacted by Lehman Brothers' bankruptcy, state media reported. ICBC said its total exposure to Lehman Brothers was US$151.8 million, including bonds issued by Lehman Brothers and bonds linked to the failed US investment bank. The bond investment makes up only 0.03% of ICBC's bond investments and 0.01% of its total assets. ICBC's A-shares fell by the daily limit of 10% Wednesday in Shanghai to close at RMB3.42 (US$0.50).