Citic Ka Wah Bank expects to be unaffected by the sudden closure of Guangdong International Trust and Investment Corp (Gitic) and changing investor perceptions about mainland-backed entities. Executive vice-president Doreen Chan Hui Dor-lam said the bank, 57.89 per cent owned by Beijing-based China International Trust and Investment Corp, was proceeding with its business plans as scheduled. She would not say if the bank had seen support from its parent weaken or had faced any difficulties in day-to-day operations after the Gitic incident, saying only that it would proceed with plans to spend about $100 million on its change of image. Mrs Chan said the bank still believed it could recover most non-performing loans, which stood at a relatively high 7.47 per cent last December. She declined to say if the bank had any exposure to Gitic. At a ceremony to unveil its new identity, Mrs Chan said the new logo and related signature systems reflected the bank's corporate value of 'being stable and progressive; professional and dynamic; based in Oriental culture and yet contemporary in perspective and execution'. The launch will be followed by renovation of the bank's 33 branches with a unified style. Mrs Chan said the bank would maintain its network of about 30 branches. Some would be moved to better locations while others situated in older districts would be closed. She said the bank had been active in tapping the mortgage market for buyers in the primary market. Since May, it had seen its mortgage loan book grow by 30 per cent from last year.