CITIC Bank managed assets broken 200 billion yuan

Yesterday, Citic Bank (601998) SH,00998.HK said that as of July 31, 2010, Citic Bank managed assets exceeded the scale of 200 billion yuan, reached 210.9 billion yuan, the same period last year, growth of 180%, compared to the beginning of the growth of 88%.　　In the month of July, the growth of Citic Bank's managed assets reached 39.6 billion yuan. Unlike other small and medium-sized joint-stock banks, Citic Bank, relying on the advantages of Citic Group, with the group's subsidiaries (Citic Trust, Citic Capital, etc.) in the Trusteeship market cooperation.　　In fact, it is this advantage that has contributed to the rapid growth of Citic Bank's trusteeship business.　　Citic Bank's first-half performance report disclosed that Citic Bank and Citic Trust cooperation and the set of a single fund trust program is 30.362 billion yuan; the portfolio of securities companies that cooperate with CITIC Securities and the project trusteeship of directed Asset management are 8.95 billion yuan. In recent years, commercial banks have generally increased the expansion of intermediary business, asset trusteeship has become an important part of the intermediary business.　　The big four state-owned commercial banks have monopolized most of the market share by virtue of the traditional network and talent advantage, such as ICBC's trusteeship of assets over 1.8 trillion yuan at the end of last year. In this context, a large number of small and medium-sized joint-stock banks generally adopt differentiated competition strategy, and gradually get a place.　　In the joint-stock bank, the custodian assets of China Merchants Bank are the largest, and the managed assets reach 208.1 billion yuan at the end of 2009.　　At present, the assets entrusted by CITIC Bank cover eight kinds of products such as securities Investment Fund, trust assets, collection and directional assets, QDII (qualified domestic institutional investors), asset securitization, industrial fund (venture capital Fund), PE (private equity) equity fund, etc. Citic Bank's first-half performance report showed that in the first half of 2010, the bank's trusteeship and other commissioned business commission income of 78 million yuan, the year-on-year increase of 59.18%, growth in all intermediary business ranked second.