CITIC Bank net profit rose by 50% last year

Citic Bank said 1st, Citic Bank A+h rights issue project is progressing smoothly, the plan will be completed by the end of June, and for some time no refinancing.　　CITIC Bank's 2010 Annual performance report shows that, as at the end of the reporting period, the net profit of Citic Bank to shareholders amounted to 21.51 billion yuan, an increase of 50.2%, and total assets spanning 2 trillion to 2.0813 trillion yuan. 2010 dividend on the 1st performance Note, Citic Bank board secretary Rough explained that Citic Bank has been adhering to the principle of continued dividend payout, but the current a+h stock rights issue is being promoted, according to the Securities and Futures Commission, listed companies in the allotment period should be deferred dividend scheme,　　So the Citic Bank's board decided not to pay dividends for 2010 years. At the same time of increasing endogenous capital accumulation, commercial Bank's refinancing scheme is highly concerned by the market. The data show that at the end of last year Citic Bank capital adequacy ratio was 11.31%, core capital adequacy ratio is 8.45%. At present, Citic Bank has announced a 26 billion yuan A+h shares of the allotment plan.　　The bank's president, Chen Xiaoxian, said that after the completion of Citic Bank's core capital is higher, if there is any future financing plan, the company will consider the use of subordinated debt of the non-equity financing scheme.　　The 1.44% Annual report shows that Citic Bank's lending ratio at the end of last year was 1.44%, well below the regulatory requirement of 2.5%, and there was some pressure on the provision. Cao, deputy governor of Citic Bank, said that if the bank had been identified as systemically important, it would need to set aside about $4 billion per annum to meet regulatory standards in accordance with the current ratio of loans. The 40-to-5 billion reserve account accounts for about 1/5 of Citic Bank's profits this year. "Citic Bank will need to further improve its pricing capacity to eliminate the impact of increased provisioning on performance."　　"he said. As of the end of the reporting period, the Government platform loan balance of Citic Bank was 118.4 billion yuan, which accounted for less than 10% of the loans, including 34.6 billion yuan in the last year's compressed platform loan. Xiaofan, deputy governor of the bank, said there was no problem with the quality of such loans. The total cash flow coverage of the platform loans accounted for 78% of the total, the basic coverage accounted for 13%, half cover accounted for 2%, no coverage accounted for 7%. Last year, the normal category of loans accounted for 99%, less than 1% of concern loans, the last year, the annual platform loan interest rate of recovery is 100%. Responsible Editor: NF045