CITIC Bank net profit last year, up 60%
China CITIC Bank announced today the annual report of 2008, CITIC Bank and subsidiaries (the "CITIC Bank") last year a net profit of 13.32 billion yuan, representing an increase of 5.03 billion yuan, an increase of 60.68%; 0.34 yuan per share, 47.83% year-on-year growth.
According to the Annual Report, as at the end of 2008, CITIC bank's capital adequacy ratio arrived at 14.32%, quintessence capital adequacy rate of 12.32%. In augmentation, the non-performing advances amounted to 9.046 billion yuan, 1.36 out of 100 non-performing advance ratio declined 0.12 percentage points. China CITIC Bank in addition advanced the loan-loss retain balance to 13.572 billion yuan, 150.03 out of 100 reporting provision, up 40.02 percentage points to raise.
Faced with the complexity of the enterprise natural environment, China CITIC Bank to reinforce macroeconomic and economic position of the study and pre-sentence, a decrease of the harmful alterations in the financial position on the banks of the contradictory influence of fast development in functioning earnings, assets to farther advance operational efficiency. Data displayed that as at the end of 2008, CITIC bank assets amounted to 1.187837 trillion yuan; mean total come back on assets of 1.21 per hundred, 0.24 percentage points year-on-year to improve; the mean snare come back on assets was 14.84 per hundred, 0.54 percentage points year-on-year to improve; enterprise snare earnings come to 40.155 billion yuan, an boost of 12.317 billion yuan, an boost of 44.25%. In supplement, due to take up productive assesses to command the boost in functioning charges, cost-income ratio dropped to 32.98 per hundred, down 1.91 percentage points.
The year 2008, China CITIC Bank to achieve income 58.867 billion yuan, up 41.87 percent; In addition, the fee and commission income 3.045 billion yuan, increasing 965 million yuan, an increase of 46.39%, of which, consultants and consulting fees, bank card fees, Settlement fees, trustee and other fiduciary business commission, security fees and other items marked growth.
Annual Report disclosed that CITIC Bank's foreign strategic investors BBVA (BBVA) in 2008 to further the stock holdings of China CITIC Bank. In February 10 after the completion of delivery procedures, BBVA shares held by China CITIC Bank rose 4.83 percent from 10.07 percent. CITIC Bank said in its annual report, the future, the two sides will continue to strengthen communication and coordination, and deepen cooperation.
China CITIC Bank in addition uncovered that, as at the end of the year 2008, the total allotment of foreign currency bonds held by 4.942 billion U.S. dollars. Of these, embracing some subprime mortgage backed securities and minor mortgage backed securities, but it did not retain U.S. subprime mortgage backed securities. In augmentation, the China CITIC Bank in addition keeps Fannie Mae and Freddie Mac promised mortgage backed securities 900 million U.S. dollars, holders of Fannie Mae and Freddie Mac instrumentality obligation distributed by 135 million U.S. dollars; holders of Lehman Brothers-related bonds with a face worth of 0.79 million. Uphold the belief of prudence, CITIC Bank has amassed foreign currency bond investments for impairment forfeit of 108 million U.S. dollars (equivalent to 738 million yuan). - 18423
According to the Annual Report, as at the end of 2008, CITIC bank's capital adequacy ratio arrived at 14.32%, quintessence capital adequacy rate of 12.32%. In augmentation, the non-performing advances amounted to 9.046 billion yuan, 1.36 out of 100 non-performing advance ratio declined 0.12 percentage points. China CITIC Bank in addition advanced the loan-loss retain balance to 13.572 billion yuan, 150.03 out of 100 reporting provision, up 40.02 percentage points to raise.
Faced with the complexity of the enterprise natural environment, China CITIC Bank to reinforce macroeconomic and economic position of the study and pre-sentence, a decrease of the harmful alterations in the financial position on the banks of the contradictory influence of fast development in functioning earnings, assets to farther advance operational efficiency. Data displayed that as at the end of 2008, CITIC bank assets amounted to 1.187837 trillion yuan; mean total come back on assets of 1.21 per hundred, 0.24 percentage points year-on-year to improve; the mean snare come back on assets was 14.84 per hundred, 0.54 percentage points year-on-year to improve; enterprise snare earnings come to 40.155 billion yuan, an boost of 12.317 billion yuan, an boost of 44.25%. In supplement, due to take up productive assesses to command the boost in functioning charges, cost-income ratio dropped to 32.98 per hundred, down 1.91 percentage points.
The year 2008, China CITIC Bank to achieve income 58.867 billion yuan, up 41.87 percent; In addition, the fee and commission income 3.045 billion yuan, increasing 965 million yuan, an increase of 46.39%, of which, consultants and consulting fees, bank card fees, Settlement fees, trustee and other fiduciary business commission, security fees and other items marked growth.
Annual Report disclosed that CITIC Bank's foreign strategic investors BBVA (BBVA) in 2008 to further the stock holdings of China CITIC Bank. In February 10 after the completion of delivery procedures, BBVA shares held by China CITIC Bank rose 4.83 percent from 10.07 percent. CITIC Bank said in its annual report, the future, the two sides will continue to strengthen communication and coordination, and deepen cooperation.
China CITIC Bank in addition uncovered that, as at the end of the year 2008, the total allotment of foreign currency bonds held by 4.942 billion U.S. dollars. Of these, embracing some subprime mortgage backed securities and minor mortgage backed securities, but it did not retain U.S. subprime mortgage backed securities. In augmentation, the China CITIC Bank in addition keeps Fannie Mae and Freddie Mac promised mortgage backed securities 900 million U.S. dollars, holders of Fannie Mae and Freddie Mac instrumentality obligation distributed by 135 million U.S. dollars; holders of Lehman Brothers-related bonds with a face worth of 0.79 million. Uphold the belief of prudence, CITIC Bank has amassed foreign currency bond investments for impairment forfeit of 108 million U.S. dollars (equivalent to 738 million yuan). - 18423
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