China Citic Bank Continued to Post Strong Top-Line Growth; Credit Costs Remain High
China Citic Bank continued to report stronger-than-peer results, with 5% growth in net profits and 7% growth in total revenue against the year-ago period. The results highlighted strong top-line growth and accelerating bad-debt disposal. Fee income recorded solid growth at 19%, boosted by 86%, 41% and 20% growth in agency sales, bank card, and wealth-management products, respectively. Net interest margin rebounded 1 basis point to 1.91% from the second quarter, as loan rate repricing nearly comp...
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