China CITIC Bank

Chinese state-owned banking corporation

This article reads like a press release or a news article and may be largely based on routine coverage. Please help improve this article and add independent sources. (April 2018)

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China CITIC Bank

China CITIC Bank in Hangzhou

Native name

| 中信银行
Company type| Public

Traded as

* SSE: 601998 (A share)
* SEHK: 998 (H share)
* * * *

* SSE Composite Component

Industry| Banking
Founded| April 1987
Headquarters|

Beijing, Hong Kong

China

Area served

| People's Republic of China

Key people

| Zhu Hexin, Chairman Fang Heying, President
Revenue| US$28.98 billion

Net income

| US$8.63 billion
Total assets| US$1.265 trillion
Owner| CITIC Group

Number of employees

| 59,258 (2021)
Parent| CITIC Limited
Website| bank.ecitic.com
China CITIC Bank

Simplified Chinese| 中信银行
Traditional Chinese| 中信銀行
| Transcriptions

Standard Mandarin
Hanyu Pinyin| Zhōngxìn Yínháng

China CITIC Bank is a major commercial bank in China, under CITIC Group.

Established in 1987, it is a nationally comprehensive and internationally oriented commercial bank. The bank operates in Hong Kong, Macau, New York, Los Angeles, Singapore and London, and maintains a strong foothold on the mainland banking industry. The bank operates 163 branches in the mainland, and 1,252 sub-branches, located in economically developed regions of China.[1][needs update]

## History

[edit]

### Origins

[edit]

In 1984, the chairman of CITIC group at the time, Rong Yiren (荣毅仁), requested that the Chinese government create a banking division under his company, to fully embody the needs for foreign exchange. This move was approved by the People's Bank of China, and a banking division was created under CITIC group in April 1985. At this point, the bank was based on the original finance department, expanding its operations regarding external financing, foreign exchange transactions, loans, international settlement, finance leases and deposits. In April 1987, the bank was formally established as a separate legal entity, following approval from the People's Bank of China and the State Council of China.[2]

### 2000–present

[edit]

China CITIC Bank's businesses flourished in the first decade of the 21st century.[citation needed] In July 2000, CITIC bank became the first bank in China to be certified by the China Financial Certificate Authority for online banking. In July 2002, the bank improved its international standing by ranking 291st on the "Top 1000 World Banks" list released by The Banker magazine of the United Kingdom, ranking within the top 300 for the first time.[citation needed] In November 2006, the bank welcomed its first major foreign investment, when BBVA, the second largest bank in Spain, became a major shareholder.[3] This move established a co-operative relationship. On 27 April 2007, China CITIC Bank was listed on the Hong Kong and Shanghai stock exchanges.

In May 2017 the A share of the company was removed from the constituents of SSE 50 Index; it remained in SSE 180 Index.[4]

## References

[edit]

* China portal
* Banks portal

1. ^ China CITIC Bank: Intro Archived 3 October 2012 at the Wayback Machine China CITIC Bank Official Introduction
2. ^ CITIC Bank Introduction Archived 22 November 2013 at the Wayback Machine 51Credit.com (Chinese)
3. ^ China CITIC Bank Intro Sina Finance (Chinese)
4. ^ 沪深300、上证50和中证500等指数2017年第一次定期调整样本股 (Press release) (in Chinese (China)). Shanghai Stock Exchange. 31 May 2017. Retrieved 30 October 2017.

* v
* t
* e

CITIC Group

Subsidiaries|

| CITIC Limited|

* China CITIC Bank
* CITIC International Financial Holdings
* CITIC Bank International
* CITIC Capital
* CITIC Financial Asset Management
* CITIC Pacific Special Steel
* CITIC Trust
* Dah Chong Hong

|

Other|

* CITIC Construction
* CITIC Resources
* CITIC Telecom CPC
* CITIC Telecom International
* CITIC Offshore Helicopter
* CITIC Publishing
* CITIC 1616 Holdings

* Former subsidiaries
* (now equity investments)

* AsiaSat
* Baiyin Nonferrous
* Beijing Sinobo Guoan F.C.
* CITIC Guoan Group
* CITIC Guoan Information Industry
* CITIC Guoan Wine
* CITIC Securities
* CITIC Private Equity

Links to related articles

* v
* t
* e

Constituents of the FTSE China A50 Index

* Agricultural Bank of China
* Bank of China
* Bank of Communications
* Beijing–Shanghai High-Speed Railway
* BYD
* CGN Power
* China CITIC Bank
* China Construction Bank
* China Everbright Bank
* China Merchants Bank
* China Pacific Insurance
* China Petroleum & Chemical
* China Securities
* China Shenhua Energy
* China State Construction Engineering
* China Tourism Group
* China Yangtze Power
* CITIC Securities
* Contemporary Amperex Technology
* East Money Information
* Foshan Haitian Flavouring and Food
* Foxconn Industrial Internet
* Great Wall Motor
* Gree Electric Appliances Inc of Zhuhai
* Haier
* Hygon Information Technology
* Industrial and Commercial Bank of China
* Industrial Bank
* Inner Mongolia Yili Industrial
* Jiangsu Hengrui Medicine
* Kweichow Moutai
* LONGi Green Energy Technology
* Luxshare
* Luzhou Laojiao
* Midea Group
* Mindray
* Muyuan Foodstuff
* Nari Technology
* People's Insurance Company of China
* PetroChina
* Ping An Bank
* Ping An Insurance
* Postal Savings Bank of China
* S.F. Holding
* Shaanxi Coal and Chemical Industry
* Shanghai Pudong Development Bank
* Shanxi Xinghuacun Fen Wine Factory
* Wanhua Chemical Group
* Wuliangye Yibin
* Yihai Kerry
* Zijin Mining

* v
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* e

Banking in China

* Banking in China
* History of banking in China

Central bank|

People's Bank

Policy bank|

* Agricultural Development
* Development
* Export–Import

State Council
commercial|

* Agricultural
* CITIC
* China
* Communications
* Construction
* Everbright
* Industrial and Commercial
* Merchants
* Postal Savings

Nationwide
commercial|

* Bohai
* Guangfa
* Huaxia
* Industrial
* Minsheng
* Ping An
* Shanghai Pudong Development
* Zheshang

Urban
commercial|

* Beijing
* Dalian
* Hangzhou
* Harbin
* Jiangsu
* Jilin
* Nanjing
* Ningbo
* Qingdao
* Shanghai
* Taian
* Taizhou
* Tianjin
* Tibet
* Shengjing
* Xiamen International

Regulatory
agency|

* National Administration of Financial Regulation

* List of banks in China
* List of banks in Hong Kong
* List of banks in Macau

Authority control databases

International|

* VIAF

National|

* Germany
* United States

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