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Consumer and Retail

China CITIC Bank qualified to be listed
By AMY CHEUNG
Published: August 09, 2006 12:00 AM
A recently-releaed 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, People’s Daily reported. According to the statistics, the bank has landed book profits of 3.675 billion yuan in the first half of 2006, which accounted for 58 percent of the total profit at the end of 2005. Its assets have amounted to 671.15 billion yuan, which is an 8.9 percent year-on-year increase. Its total deposit balance has reached over 580 billion yuan, up 11%; and the total loan balance is 441.27 billion yuan. The bank's capital adequacy ratio has reached 9.44%. It is higher than the standard level of 8%, a prerequisite for a company to be supervised and managed in the stock market, said the paper.
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