China Citic Bank Corp Ltd Class A
601998: XSHG (CHN)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| CNY 7.30 | Qlmy | Fgzf |
China Citic Bank Faces Smaller Margin Pressure Than Peers in 2023
Business Strategy and Outlook
Corporate banking is China Citic Bank's flagship business, which boasts a solid customer base of large-scale state-owned enterprises. This is thanks to its strong connection with its parent China Citic Group, one of the largest SOE conglomerates, with businesses covering financial, real estate, infrastructure, energy, resources, manufacturing, and construction. Serving nearly 700,000 corporate customers, the bank specializes in trade finance, cash management, and custodian services.