China CITIC Bank

China CITIC Bank
中信银行

Type	State-owned enterprise Public SEHK: 0998
Traded as	SSE: 601998
Industry	Banking
Founded	1987
Headquarters	Beijing, China
Area served	People's Republic of China
Key people	Chairman: Mr. Kong Dan
Employees	13,485 people
Parent	CITIC Group
Website	China CITIC Bank

China CITIC Bank (simplified Chinese: 中信银行; traditional Chinese: 中信銀行; pinyin: Zhōng Xìn Yínháng)(SEHK: 0998 SSE: 601998) is China’s seventh-largest lender in terms of total assets. It is formerly known as CITIC Industrial Bank.^[1] China CITIC Bank, established in February 1987, is a nationally comprehensive and internationally oriented commercial bank. By end of October 2005, its network comprises 418 branches countrywide, and includes established correspondent relationships with 990 banks and their branches in 70 countries around the world.

China CITIC Bank is a wholly owned subsidiary of China International Trust and Investment Corporation (CITIC), with assets of RMB 576 billion (USD 71 billion). As of 2006, China CITIC Bank had a non-performing loan (NPL) ratio of 2.5% (RMB 11.1 billion). The bank’s capital adequacy ratio is 9.1%.

Since the bank has been listed in the Hong Kong Stock Exchange, it performs the poorest among the all pro-PRC financial stocks. It dropped below the IPO price, HK$5.80, and closed at HK$5.79 on 5 June 2007. It is the second Hong Kong China-based financial stock which drops below the IPO price, after People's Insurance Company of China.

See also

• CITIC

External links

• China CITIC Bank official website (Chinese version)
• China CITIC Bank official website (English version)

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