BIZCHINA / News |
CITIC bank more than doubles net asset value in Q3(Xinhua)
Updated: 2007-10-30 13:53 CITIC Bank, the seventh largest commercial bank in China, garnered a net profit of 2.04 billion yuan (US$273.2 million) in the third quarter of this year, according to a report released by the bank on Monday.
Recently, ICBC reported a 66 percent year-on-year increase in its net profit of 64.1 billion yuan in the first nine months of this year. China Construction Bank, the country's second largest lender, posted a net profit of 57 billion yuan in the first three quarters of this year. CITIC bank also made an announcement on Monday that it had entered into a Memorandum of Business Cooperation regarding future business cooperation in green economy, a clean development mechanism, China-Japan bilateral trade financing and other business areas with Mizuho Corporate Bank Ltd and Mizuho Corporate Bank (China) Ltd. Mizuho Corporate Bank is a cornerstone investor of the bank, which currently holds 68.26 million H shares of CITIC Bank, representing approximately 0.17 percent of the total share capital. |
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