Insider: CITIC Bank Annual Fianancial Report to Consolidate

Upon the accomplishment of acquiring a 70.32% stake in CITIC International Financial Holdings Limited, China CITIC Bank Corporation Limited (SHSE: 601998 and SEHK: 0998) will unveil consolidated financial status in its annual financial report for 2009, disclosed a person in the know.

Profit will certainly grow after consolidating the financial results. The profitability of CITIC International Financial is optimistic at the moment and the return on capital of the company will be likely to continue rising.

Not long ago, CITIC Bank released its financial report for the third quarter of 2009. Its net profit for July-September 2009 came to CNY 4.348 billion, rising 7.8% from the period last year and 13.9% from the previous quarter.

Increases in net interest margin pushed fast growths in third-quarter net profit, according to the financial results. The bank's net interest margin arrived at 2.61% at the end of September and continued rising in October.

Source: www.cnstock.com (November 06, 2009)

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