• Fri
  • Dec 19, 2014
  • Updated: 11:18am

China Citic Bank

China Citic Bank braces for austerity challenges

The bank's net interest margin is 2.59 per cent. Photo: Bloomberg

China Citic Bank said its business model faced austere challenges after posting a 5.07 per cent growth in net profit in the first half and a 93.7 per cent surge in impairment losses.

Wednesday, 28 August, 2013, 4:50am

Citic Bank drops, plans to step up retail business

China Citic Bank is increasing its provision for loan impairment by 0.5 percentage point to 2.12 per cent of outstanding loans. Photo: Bloomberg

China Citic Bank's share price fell yesterday after it reported disappointing results for last year. The stock fell 2.5 per cent to close at 4.67 yuan on the mainland stock market, after falling as much as 4.3 per cent intraday.

30 Mar 2013 - 4:33am

Citic Bank posts flat earnings as peers take flight

Citic Bank is aiming for about 14 per cent growth in aggregate assets this year. Photo: Bloomberg

China Citic Bank reported flat earnings for last year, while its Hong Kong-listed mainland peers posted double-digit growth. Earnings grew by a quarter at China Merchants Bank (CMB) and more than a third at China Minsheng Banking.

29 Mar 2013 - 5:05am

Citic Bank provisions for bad debts to hurt profit next year

Citic Bank is stepping up its provisioning against potential bad loans, which analysts said is likely to weigh on its profit next year.

"The increase in provisions is our advanced plan to meet the regulatory requirement on the [loan-loss] provision ratio," Wang Kang, general manager of Citic's planning and finance department, said yesterday.

31 Oct 2012 - 2:30am

Competition eats into CMB margins

Citic Bank made a loan provision of 4 billion yuan compared with 1.81 billion yuan at the same time last year. Photo: Bloomberg

China Merchants Bank's net profit grew 16.6 per cent in the third quarter from a year earlier, driven by a rise in interest income, but net interest margin dipped amid fierce competition.

Earnings at the mainland's sixth-largest lender by assets reached 11.41 billion yuan (HK$14.16 billion).

30 Oct 2012 - 4:25am

China Citic's profit rises 29pc but bad debt also mounts

China Citic Bank, the mainland's seventh-largest lender by assets, said net profit jumped 29 per cent to 19.4 billion yuan (HK$23.73 billion) in the first half of this year from a year earlier.

30 Aug 2012 - 3:17am

China Citic Bank racks up 43pc surge in profits

Hong Kong-listed mainland lender China Citic Bank beat market expectations to post a 43 per cent increase in net profit last year.

But its chief executive warned yesterday of slower growth ahead for the mainland economy.

1 Apr 2012 - 12:00am

Caring bank signs up to Operation Santa Claus

From planting trees in country parks to baking cakes with underprivileged children, Citic Bank International's 1,600 employees have contributed more than 10,000 hours to volunteer work, says Doreen Chan, the bank's chief executive.

14 Dec 2011 - 12:00am

Citic sees dip in loans to financing vehicles

China Citic Bank said yesterday that outstanding loans to so-called local government financing vehicles continued to fall and expected fewer to come due in the fourth quarter.

28 Oct 2011 - 12:00am

Citic Bank unit's yuan trade deals soar 366pc

Citic Bank International (CBI), China Citic Bank's offshore commercial banking arm, said its settlement of yuan-denominated, cross-border transactions jumped 366 per cent to 23.55 billion yuan (HK$28.6 billion) in the first half of the year.

12 Sep 2011 - 12:00am

China Citic's LGFV loans rise by 50 billion yuan

China Citic Bank said loans to local government financing vehicles (LGFV) rose about 50 billion yuan (HK$61 billion) to around 170 billion yuan in the first half, largely due to a redefinition of existing loans rather than new debts.

31 Aug 2011 - 12:00am

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