News Column

CITIC Bank H1-end NPL Outstanding Up 26.44%

August 29, 2014

BEIJING, August 29, SinoCast -- CITIC Bank on August 28 announced non-performing loan (NPL) outstanding hit CNY 25.246 billion by the end of June, growing CNY 5.28 billion or 26.44% over the end of the previous year.

NPL outstanding in the Yangtze River Delta, the Bohai Rim and the Pearl River Delta accounted for 85% of total. NPL ratio was 1.19%, up 0.16 percentage points; provision coverage ratio was 192.68%, down 13.94 percentage points; loan provision ratio was 2.30%, up 0.17 percentage points.

In the first half of this year, the bank digested NPL principal of CNY 6.423 billion, faster than past years, and set said loan loss reserve of CNY 10.914 billion, close to full-year figure last year.

By the end of this June, core tier 1 capital adequacy ratio (CAR) was 8.71%, down 0.07 percentage points over the end of the previous year; tier 1 CAR was 8.77%, down 0.01 percentage points; CAR was 10.98%, down 0.26 percentage points.

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Source: Sinocast Banking & Credit Beat (China)

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