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Citibank China's operating income doubles in 2007

(Xinhua)
Updated: 2008-05-06 14:20

Citibank (China) Co, a locally incorporated bank by the US-based Citigroup Inc, said on Monday it earned 2.2 billion yuan ($314 million) of operating income in 2007, up 99 percent over a year earlier.

The net income reached 665 million yuan, with the comparison figure unavailable.

In 2007, loans outstanding grew by 30 percent and the total deposit surged 70 percent. Its non-performing loans was 0.2 percent as of December 31 and the total capital adequacy ratio stood at 11.34 percent.

Small and medium-sized enterprises was a focus for Citibank (China) Co in 2007, with the number of such clients doubled.

Citigroup, the largest US bank by assets, began to offer RMB service in April last year. It now has eight branches, two investment bank representative offices and 24 consumer bank outlets in China.