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Chinese commercial bank receives good report

The Sydney News.Net
Sunday 6th July, 2008

One of China’s medium-sized commercial banks, CITIC, has estimated its net profit in the first half of this year rose by more than 150 percent from a year earlier.

Bank officials have stated the company's income in intermediary business has increased while the effective tax rate of the company has decreased substantially.

CITIC Bank also estimated its non-performing loan ratio was under 1.45 percent while cover against contingencies, such as bad debt, was over 115 percent.

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