Retail banking boosts China CITIC

The net non-interest income realized by China CITIC Bank Corp Ltd's retail banking in 2017 increased by a significant 40 percent year-on-year, as the bank stepped up its efforts for business restructuring.

Its retail banking clients totaled 80 million last year, increasing at a compound annual growth rate of 17.1 percent from 2014. Retail banking contributed about 34.17 billion yuan ($5.46 billion) to the net non-interest income of China CITIC Bank, the Beijing-based national joint-stock commercial lender announced on Tuesday.

On the contrary, the volume of its interbank business shrank more than 690 billion yuan last year, leading to a 10 billion yuan reduction in operating income from 2016 in this business segment.