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China CITIC Bank FY'17 net profit rises

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China CITIC Bank FY'17 net profit rises

China CITIC Bank Corp. Ltd.'s net profit attributable to equity holders rose to 42.57 billion yuan from 41.63 billion yuan in 2016.

EPS fell to 84 fen per share from 85 fen per share in the prior-year period.

Net interest income for the year declined to 99.65 billion yuan from 106.14 billion yuan in the prior year, while net fee and commission income went up to 46.86 billion yuan from 42.28 billion yuan.

Operating income climbed to 157.23 billion yuan from 154.16 billion yuan in the previous year. Impairment losses on loans and advances to customers for the year increased to 50.17 billion yuan from 45.72 billion yuan.

Net interest margin for 2017 dropped to 1.79% from 2.00% in 2016.

China CITIC Bank posted net profit attributable to shareholders of 7.83 billion yuan for the fourth quarter of 2017.

The group's nonperforming loan ratio slid to 1.68% as of the end of 2017 from 1.69% in the year-ago period.

As of Dec. 31, 2017, the group's capital adequacy ratio was 11.65%, down from 11.98% at 2017-end. Its core Tier 1 and Tier 1 capital adequacy ratios for the period were 8.49% and 9.34%, respectively, compared with 8.64% and 9.65% in the previous year.

The company's board proposed a cash dividend of 26.1 fen per share for 2017, down from 21.2 fen per share in 2016.

As of March 26, US$1 was equivalent to 6.27 Chinese yuan.