China Citic Bank 1Q Net Rose 10.3%

By P.R. Venkat

China Citic Bank Corp.’s first-quarter net profit rose 10.3% compared with the same period a year earlier, mainly supported by improvements in its asset quality, including a lower ratio of non-performing loans.

First-quarter net profit for the period came in at 19.14 billion yuan ($2.77 billion), Citic Bank said late Friday.

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