CITIC Bank’s net profit increased by 7.91% last year, and non-performing loans fell

The 2023 results announced by China CITIC Bank (601998.SH; 0998.HK) on the evening of March 21 showed that the net profit attributable to shareholders last year was 67 billion yuan, an increase of 7.91% compared with the same period last year. This result shows that CITIC Bank has maintained stable operations in a difficult economic environment and demonstrated its strong operating strength.

Non-performing loans double down

It is worth noting that CITIC Bank’s non-performing loan ratio and non-performing loan balance both dropped last year. This shows that the bank's risk management and control capabilities have been continuously improved and asset quality has been effectively maintained. This is of great significance to the steady development of CITIC Bank.

Actively respond to challenges

Facing the downward pressure on the economy and changes in the financial market, CITIC Bank has actively responded to the challenges and continued to improve operating efficiency and create greater value for shareholders through measures such as optimizing its business structure and improving service quality.

future outlook

Looking forward to the future, CITIC Bank will continue to adhere to the principles of sound operations, strengthen risk management and control, promote innovative development, continuously improve competitiveness, and lay a good foundation for long-term sustainable development.

• Continue to pay attention to market dynamics
• Strengthen internal management
• Actively expand business territory