发帖
雷达卡
HSBC 汇丰：中信银行 深度报告（120页）
－06.18 China Citic Bank 06.18 英文
China CITIC Bank (CITIC Bank) is a corporate bank with great prospects to improve its
profitability, in our view. Corporate customers accounted for c90% of advances and c83%
of deposits at end-2006 and with its concentration of branches in the Yangtze River Delta
and Bohai Rim regions it has exposure to China’s macro growth. In the near- to mediumterm,
we believe there are four drivers for higher profits:
129566.pdf
(1.06 MB, 需要: 30 个论坛币)
Contents
Executive summary 4
Why CITIC Bank? 9
Operational review 29
Forecasts & assumptions 49
Valuation 55
Risk factors 63
Sector overview 67
What is CITIC Bank? 72
Strengths and strategy 80
Appendices 88
Appendix 1: CITIC Group 89
Appendix 2: Board and executive leadership 92
Appendix 3: Risk management framework 93
Appendix 4: Corporate banking and treasury operations 98
Appendix 5: Retail banking business 104
Appendix 6: The bank card industry in China 111
Appendix 7: Awards won by CITIC Bank 115
Disclosure appendix 116
Disclaimer 119
京公网安备 11010802022788号
