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China Citic Bank Corp Ltd Class A 601998

Morningstar Rating
CNY 7.04 +0.05 (0.72%)
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Company Report

China's Joint-Stock Banks Earnings: Divergent Performance on Differing Exposure for Retail Banks

China Merchants Bank, or CMB, and China Minsheng Bank, or CMBC, reported a deeper year-on-year decline in first-quarter revenue of 5% and 7% versus the 2% and 1% decline in 2023. China Citic Bank’s results were stronger than expected, with revenue increasing 5% year on year, driven by stronger-than-expected growth in fee and investment income, which benefited from falling interest rates. The net profit trend weakened further, with net profit contracting 2% and 6% for CMB and CMBC, respectively, and increasing 0.4% for Citic, year on year.

Price vs Fair Value

601998 is trading at a 169% premium.
Price
CNY 6.99
Fair Value
CNY 2.60
Uncertainty
High
1-Star Price
CNY 3.32
5-Star Price
CNY 7.61
Economic Moat
Fpgq
Capital Allocation
Tkr

Bulls Say, Bears Say

Bulls

Citic’s bank wealth management products grew 5.4% from 2022, in contrast to the 8.4% decline for the bank industry.

Bears

Citic's property exposure faces growing risks due to the weakening property sales and rising developer defaults.

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News

Trading Information

Previous Close Price
CNY 6.99
Day Range
CNY 6.957.07
52-Week Range
CNY 5.178.00
Bid/Ask
CNY 7.04 / CNY 7.05
Market Cap
CNY 376.33 Bil
Volume/Avg
42.0 Mil / 64.9 Mil

Key Statistics

Price/Earnings (Normalized)
6.54
Price/Sales
1.96
Dividend Yield (Trailing)
4.69%
Dividend Yield (Forward)
4.69%
Total Yield
4.67%

Company Profile

As the second-largest joint-stock banks, China Citic Bank is headquartered in Beijing. It offers a full range of commercial banking services, with 1,410 outlets in 146 cities in China and branches in Hong Kong, Macau, New York, Los Angeles, and Singapore. As of 2022, the bank is the 9th-largest nationwide listed commercial bank in China in terms of total assets.
Sector
Financial Services
Industry
Banks - Regional
Stock Style Box
Large Value
Total Number of Employees
66,891

Competitors

Valuation

Metric
601998
600036
000001
Price/Earnings (Normalized)
6.546.435.35
Price/Book Value
0.580.940.54
Price/Sales
1.962.851.51
Price/Cash Flow
2.56
Price/Earnings
601998
600036
000001

Financial Strength

Metric
601998
600036
000001
Quick Ratio
Current Ratio
Interest Coverage
Quick Ratio
No chart available

Profitability

Metric
601998
600036
000001
Return on Assets (Normalized)
0.76%1.33%0.84%
Return on Equity (Normalized)
11.41%16.13%11.84%
Return on Invested Capital (Normalized)
Return on Assets
601998
600036
000001
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