CITIC Bank President Zhu Xiaohuang explained the lowest growth rate

By | April 1, 2013

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The earnings growth of 0.69% of CITIC Bank is the lowest growth rate among the published annual reports of listed banks. In response to this, CITIC Bank President Zhu Xiaohuang explained in a briefing yesterday that by holding a cautious attitude about the future economic environment, the bank has made loan of 12.8 billion yuan from the previous year’s profit for future impairment.
Zhu Xiaohuang did not have the slightest concern about the slow growth in the last year, he expressed that despite the large loan impairment charges last year  CITIC still managed to get growth. It is noted that CITIC Bank last year had extracted loan impairment of 12.804 billion yuan, an increase of 123.30% from the previous year.

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