China CITIC Bank Corporation Limited (“CNCB” or “the Bank”) was founded in 1987. It is one of the earliest emerging commercial banks established during China’s reform and opening-up and also China’s first commercial bank participating in financing at both domestic and international financial markets. After more than three decades’ development, the Bank has set up a network of affiliates covering major large and medium-sized cities in mainland China, and established operations in London, Sydney, Hong Kong SAR, Macau SAR, New York, Los Angeles, Singapore, etc. In April 2007, it simultaneously listed its A and H shares at the Shanghai Stock Exchange and the Stock Exchange of Hong Kong Limited.

       The Bank aspires to become the “enterprise offering the best comprehensive financial services”. With a full range of financial products and high-quality customer service, it enjoys a high reputation and extensive influence at both domestic and overseas markets.

       The Bank fully leverages on the unique competitive advantages of CITIC Group in placing financial and non-financial businesses on an equal footing, spares no effort to forge itself into a comprehensive service platform, and meanwhile holds firm to its “customer orientation” and adheres to the business concept of “safe CITIC Bank, compliant operation, science and technology for growth, serving the real economy, market orientation and value creation”. For corporate customers and institutional customers, it offers integrated financial solutions in corporate banking business, international business, financial markets business, institutional banking business, investment banking business, factoring business and custody business. For individual customers, it provides diversified financial products and services in retail banking, credit card, consumer finance, wealth management, private banking, going abroad finance and e-banking. As such, the Bank satisfies the needs of corporate, institutional and individual customers for comprehensive financial services on all fronts. For details please refer to Chapter 3 “Management Discussion and Analysis” of the Report.。

       The Bank insisted upon coordinated development of profit, quality and scale, and continuously enhanced its core competitiveness, in a bid to become the enterprise offering the best comprehensive financial services with distinctive business characteristics, outstanding profitability, robust asset quality and leading status in key regions.

       The Bank has always adhered to market-oriented operation and constantly improved its corporate governance and business operation systems and mechanisms. The result was the formation of an organizational structure characterized by efficient management and professional division of duties. With reference to the theory and practice of modern banking development, the Bank set up a corporate governance framework comprising the general meeting of shareholders, the Board of Directors, the Board of Supervisors, and the senior management. According to the principle of separating the front, middle and back offices, it established a matrix management model with the Head Office departments as the lines and the branches and sub-branches as the arrays. As a result, the general meeting of shareholders, the Board of Directors, the Board of Supervisors and the senior management operated compliantly and performed duties efficiently. Embracing its traditional advantages and DNAs, the Bank developed a business structure with corporate banking as the main body and retail banking and financial markets businesses as the two wings, which turned out to be a “Troika”, so as to make its corporate banking business “light yet strong”, its retail banking business “large and strong”, and its financial markets business “vigorous and strong”.

       The Bank put forward its “differentiated and echelon-based” regional positioning and development strategy, and divided the tier-one branches into three categories, adopting varying measures in terms of resource allocation, required rate of return, and other aspects. The Bank kept refining its comprehensive risk management system, streamlined its process for corporate loan business, enhanced its efforts to perform duties relating to the “Three Defense Lines", and struck a balance between risk control and service efficiency. At the same time, it actively explored the application of intelligent technologies to risk control, and promoted in-depth application of big data, artificial intelligence (AI) and measurement models. Besides, efforts were made to dispose of existing and potentially problematic assets and related risks, bring problematic assets under more active management, consolidate the quality of credit assets on all fronts, and put various risks under constantly improved management.

       The Bank paid great attention to the innovation and application of financial technology (FinTech). Guided by the notion of science and technology for innovation and growth, the Bank made enthusiastic exploration of and constant innovation in internet finance, digitization and smart transformation. For details, please refer to Chapter 3 “Management Discussion and Analysis” of the Report.