China Citic Bank Faced Greater Headwinds From Tighter Liquidity and Financial Deleveraging
China Citic Bank’s 2016 results saw slower growth in total revenue and net profit at 6% and 1.1%, respectively. The slower-than-expected growth was attributable to slower net interest-income growth and increased credit costs during the second quarter. Fee-income growth remained decent at 19% from 2015, fueled by strong demand for wealth-management, agency, and bank card services. Operation efficiency saw modest improvement as the cost/income ratio fell slightly to 27.56%. However, Citic faced gr...China CITIC Bank is a commercial banking group based in the People's Republic of China. Co. is engaged in the provision of corporate and personal banking services, conducting treasury business, the provision of asset management, finance leasing and other non-banking financial services. Co.'s business operations are organized into three main segments: corporate banking, personal banking and treasury business. As of Dec 31 2010, Co. had total assets of RMB 2,081,314,000,000 and total deposits of RMB 1,730,816,000,000, with 1,235 self-service banking centers and 4,193 self-service terminals (ATMs, CDM and CRS).
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