China CITIC Bank to Enter SIP
China CITIC Bank Suzhou Branch and Suzhou Industrial Park Real Estate Management Corp. recently signed an agreement on constructing CITIC Building, which means China's seventh largest lender in terms of total assets will soon move its Suzho HQ to SIP.
As the first joint-stock commercial bank branch to enter Suzhou, CITIC Suzhou has committed to supporting the local economic and social growth in the past 17 years. As of the end of November 2010, the total assets of CITIC Suzhou exceeded 60.5 billion yuan, the deposit balance increased by 10.85 billion in 2010 to 68.55 billion yuan, loan balance was 45 billion and the general loans issued during the year totaled at 10 billion yuan, the yearly pre-tax book profit was 1.1 billion yuan.
Originally published on Suzhou Daily
December 25, 2010