China CITIC Bank is China's seventh-largest lender in terms of total assets. It is formerly known as CITIC Industrial Bank. China CITIC Bank is a nationally comprehensive and internationally oriented commercial bank. By end of October 2005, its network comprises 418 branches countrywide, and includes established correspondent relationships with 990 banks and their branches in 70 countries around the world.
Since the bank has been listed in the Hong Kong Stock Exchange, it performs the poorest among the all pro-PRC financial stocks. It dropped below the IPO price, HK$5.80, and closed at HK$5.79 on 5 June, 2007. It is the second Hong Kong China-based financial stock which drops below the IPO price, after People's Insurance Company of China.
English
China CITIC Bank is China's seventh-largest lender in terms of total assets. It is formerly known as CITIC Industrial Bank. China CITIC Bank is a nationally comprehensive and internationally oriented commercial bank. By end of October 2005, its network comprises 418 branches countrywide, and includes established correspondent relationships with 990 banks and their branches in 70 countries around the world.