China Citic Bank Saw Better Top Line Growth on Fast Asset Expansion
China Citic Bank’s first-half results were strong, with a 4.5% growth in net profits and 12% growth in total revenue. The results highlighted a strong top line growth on fast interest-earning assets expansion. On a quarter-to-quarter basis, top line growth moderated in the second quarter due to weakening net interest margin and a 7% decline in fee income from the first quarter primarily on value added tax reform. But the slowing top line growth was offset by improving operating efficiency and lo...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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