China CITIC Bank
Encyclopedia
China CITIC Bank is China’s seventh-largest lender in terms of total assets. It is formerly known as CITIC Industrial Bank.http://en.chinabroadcast.cn/855/2005/11/28/262@33315.htm 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
.
China CITIC Bank is a wholly owned subsidiary of China International Trust and Investment Corporation
CITIC
Not to be confused with Citigroup, another large financial services company.Not to be confused with CIT Group, another large financial services company....
(CITIC), with assets of RMB 576 billion (USD 71 billion). As of 2006, China CITIC Bank had a non-performing loan
Non-performing loan
A Non-performing loan is a loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months, but this can depend on the contract terms....
(NPL) ratio of 2.5% (RMB 11.1 billion). The bank’s capital adequacy ratio
Capital adequacy ratio
Capital adequacy ratio , also called Capital to Risk Assets Ratio , is a ratio of a bank's capital to its risk...
is 9.1%.
Since the bank has been listed in the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
, 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
China-based financial stocks in Hong Kong
China-based financial stocks in Hong Kong is the 6 banking and 3 insurance China-based company stocks listed in Hong Kong Stock Exchange.The 6 banks are:...
which drops below the IPO price, after People's Insurance Company of China
People's Insurance Company of China
People's Insurance Company of China Holdings Company is a state-owned company in the People's Republic of China. The holding company promotes its subsidiaries, PICC Asset Management Company Limited and PICC Property and Casualty Company Limited .PICC P&C is China's largest insurer of casualty...
.