China CITIC Bank to rejig loan portfolio in H2

China CITIC Bank Corp, the banking unit of the nation's largest investment firm, will scale back lending growth in the second half and focus on adjusting credit composition, said a senior official of the bank on Friday.

"The bank expects to transform some 80 billion yuan to 100 billion yuan bill discount credit it extended so far this year into normal loans in the second half, which will help direct more capital to the real economy," Wang Kang, general manager of the bank's budget and accounting department, said at the release of the first half results.

As the government signaled its intentions to free up lending to revive the economy this year, the mid-sized lender's new loans rose 323.8 billion yuan, or 49 percent in the first half from the end of last year.