In the first six months this year, China CITIC Bank’s credit impairment losses and other asset impairment losses totaled 47.73 billion yuan, surging 39.59 percent from a year ago. Allowance for impairment losses on loans and advances to customers grew by 13.85 percent to 38.25 billion yuan, while the allowance for impairment losses on financial investments jumped 553.52 percent to 6.68 billion yuan. China CITIC Bank's operating income grew by 9.67 percent to 102.2 billion yuan. Net interest income was up by 5.56 percent to 64.94 billion yuan, while net non-interest income increased by 17.63 percent to 37.27 billion yuan. Non-performing loans increased by 11.17 billion yuan to 77.29 billion yuan.

Source: The Standard August 27, 2020 10:30 UTC