Top-Line Growth Continued to Recover for the Past Three Quarters for Citic; Increasing FVE
With no revenue growth and 0.6% net profit growth for the past three quarters, China Citic Bank’s third-quarter results remained weaker than peers', as it relies heavily on interbank funding and state-owned enterprise credit exposure, which are both suffering from regulatory headwinds as a result of financial deleveraging in the economy since late 2016. However, the results highlighted consistent quarter-by-quarter improvement in top-line growth over the past three quarters along with most peers...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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