China CITIC Bank Corporation Limited
0998Company Overview
Established in 1987, the Bank is one of the earliest emerging commercial banks established during China's reform and opening up. It was the earliest commercial bank in China to participate in domestic and foreign financial market financing, and is famous at home and abroad for repeatedly creating many firsts in the history of modern Chinese finance, making positive contributions to China's economic construction. In April 2007, the Bank achieved simultaneous listing of A+H shares on the Shanghai Stock Exchange and the Hong Kong Stock Exchange. With the development vision of becoming the best comprehensive financial service provider with “responsibility, warmth, characteristics and value”, the Bank gives full play to the advantages of CITIC Group's “financial+industry” comprehensive platform, insists on “customer first, reform promotion, technology promotion, light development, compliant management, and talent enforcement”, and provides corporate customers and institutional customers with corporate banking, international business, financial market business, institutional business, investment banking, transaction banking, and escrow business to provide individual customers with comprehensive financial solutions such as retail banking, credit cards, consumer finance, and private wealth management people Diversified financial products and services such as banking, overseas finance, and e-banking meet the comprehensive financial service needs of enterprises, institutions and individual customers in all aspects. By the end of 2022, the Bank had 1,432 business outlets in 153 large and medium-sized cities in China, with 7 subsidiaries at home and abroad: CITIC International Financial Holdings Limited, CITIC Financial Leasing Co., Ltd., CITIC Wealth Management Co., Ltd., CITIC Baixin Bank Co., Ltd., Algin Bank, and Zhejiang Lin'an CITIC Village Bank Co., Ltd. Among them, China CITIC Bank (International), a subsidiary of CITIC International Financial Holdings Limited, has 31 business outlets and 2 business centers in Hong Kong, Macau, New York, Los Angeles, Singapore, and mainland China. CNBC (Hong Kong) Investment Co., Ltd. has 3 subsidiaries in Hong Kong and China. CITIC Wealth Management Co., Ltd. is a wholly-owned financial management subsidiary of the Bank. China CITIC Baixin Bank Co., Ltd. is the first independent corporate direct sales bank in China jointly initiated by the Bank and Baidu. Algin Bank has 7 business outlets and 1 private banking center in Kazakhstan. The Bank insists on serving the real economy, operating steadily, and keeping pace with the times. After 35 years of development, the Bank has become a financial group with total assets of over 8.5 trillion yuan, more than 60,000 employees, and strong comprehensive strength and brand competitiveness. In 2022, the Bank ranked 21st in the “Top 500 Global Banking Brands” by the British “Banker” magazine; the Bank's Tier 1 Capital ranked 19th in the “World 1000 Banks Ranking” by the British “Banker” magazine.
Shariah Compliance Benchmarks:
- Business Compliance: Non-Shariah compliant revenue must be less than 5% of total revenue
- Liabilities Compliance: Interest-bearing debt must be less than 33% of market capitalization
This stock does not meet all Shariah compliance criteria according to AAOIFI standards.
Name | China CITIC Bank Corporation Limited |
Ticker | 0998 |
Main Business | Banks—Regional |
Type | Common Stock |
Industry | Banks—Regional |
Country | HK |
Market Cap | $25.67 B |
Shariah Analysis Breakdown
Revenue Segment | Value ($M) | Non-Compliant ($M) | Reason |
---|---|---|---|
Corporate banking business | $46,020.0 | $46,020.0 | banking |
Retail banking business | $44,000.0 | $44,000.0 | banking |
Financial market business | $14,640.0 | $14,640.0 | Financial |
Other business and unallocated items | $1,220.0 | $0.0 | - |
Interest income | $0.0 | $0.0 | - |
Total | $105,880.0 | $104,660.0 | 49.71% (failed) |
Liability Item | Value ($M) | % of Market Cap |
---|---|---|
derivative financial liability | $5,861,344,537.8 | 22.84% |
borrowing from the central bank | $38,267,507,002.8 | 149.10% |
borrowing capital | $12,091,036,414.6 | 47.11% |
Total Interest-Bearing Debt | $56,219,887,955.2 | 219.05% |
Market Capitalization | $25,665,641,025.6 | 100.00% |
Compliance Status | Threshold: 33% | failed |