China CITIC Bank up to standards of listed company

Recently, a half-year financial summary of China CITIC Bank showed that the bank's asset quality has improved substantially and it has become qualified to be listed in the A stock market of China. According to certain statistics, the bank has landed book profits of 3.675 billion yuan in the first half of 2006, accounting for 58% of the total profits at the end of 2005. Its assets have amounted to 671.15 billion yuan, increasing by 8.9% compared with that in the last year; its total deposit balance has reached over 580 billion yuan, up 11%; and the total loan balance is 441.27 billion yuan.

By the end of June, the total nonperforming loan of the bank was 11.096 billion yuan, making up 2.51% of its total loan balance. Thus the bank's capital adequacy ratio has reached 9.44%, higher than the standard level, 8%, a prerequisite for company's undergoing supervision and management in the stock market.

By People's Daily Online