The highlight of China CITIC Bank's business in recent years seems to be financial management, and this is still the case in the three-quarter report.
On October 27, China CITIC Bank's three-quarter report was released. The results show that in January-September of this year, China CITIC Bank achieved net profit of 51,433 billion yuan, an increase of 9.19% over the previous year, which is quite impressive, but the bank's operating income for the first three quarters was 156.228 billion yuan, down 2.62% from the previous year.
The direct reason for the decline in revenue was net interest income of $109.239 billion, down 1.90% year on year. The latter was also constrained by the decline in net interest spreads (1.82%, down 0.14 percentage points year on year).
Non-interest net income was 46.989 billion yuan, a year-on-year decrease of 4.25%, mainly due to market factors, a decrease in financial processing fees, and a decrease in investment income and fair value changes in profit and loss.
Although financial processing fees have declined, the bank's asset management scale is still expanding. As of the end of September, China CITIC Bank's personal customer asset management balance (including market value) reached 4.18 trillion yuan, an increase of 6.72% over the end of the previous year;Total scale of wealth management products1.67Trillion yuan, up 5.63% from the end of the previous year.
In terms of asset quality, as of the end of the third quarter, China CITIC Bank's non-performing loan balance and non-performing loan ratio “rose and fell” compared to the end of the previous year, and asset quality remained basically stable.