China CITIC Bank Corporation Limited
601998.SS
Shanghai Stock Exchange7.08
CNY
-0.06
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China CITIC Bank Corporation Limited
601998.SS
(Shanghai Stock Exchange)
Recent
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7.08
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yld
- -
ROIC.AI
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- Business
- China CITIC Bank Corporation Limited delivers a broad spectrum of banking and financial solutions across the People's Republic of China and internationally. The institution conducts its operations through dedicated segments for Corporate Banking, Personal Banking, and Financial Markets. The bank provides comprehensive services, including accepting diverse deposits and originating corporate and individual loans, encompassing mortgages and consumer financing. Its offerings further extend to investment banking, international trade finance, and transaction banking services such as securities agency, remittances, settlements, and guarantees. Within its Financial Markets activities, the bank actively engages in inter-bank money market transactions, repurchase agreements, and the investment and trading of various debt instruments, alongside managing derivatives and foreign exchange operations. Moreover, the group is involved in asset management and finance leasing through its affiliated entities, leveraging the expansive CITIC Group ecosystem. Serving a diverse clientele, China CITIC Bank caters to corporations, government bodies, non-financial institutions, as well as individual customers and small and medium-sized enterprises. The bank has strategically focused on enhancing its digital capabilities, including significant investments in fintech, and is evolving towards becoming a leading wealth management, comprehensive financing, transaction settlement, foreign exchange service, and digital bank. As of late 2024, the bank's total assets exceeded RMB 9.5 trillion, supported by a workforce of over 65,000 employees. It maintained an extensive physical presence with 1,470 outlets across 153 cities in mainland China, augmented by international affiliates and digital platforms that served 145 million individual customers and 1.26 million corporate clients. Established in 1987, China CITIC Bank Corporation Limited is headquartered in Beijing and operates as a subsidiary of CITIC Corporation Limited. The bank was recognized as 19th in the "Top 500 Banking Brands" by Brand Finance and 18th in "Top 1000 World Banks" by The Banker magazine based on Tier 1 capital in 2024.