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China CITIC Bank
(0998)
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Rating:72Outperform
Price Target:
HK$9.50
â–²(14.18% Upside)
Action:Upgraded
Date:10/31/26
Overall score is driven primarily by mixed financial quality: strong and improving margins are offset by weak/volatile cash flows and elevated, fluctuating leverage. Valuation is a key positive (low P/E and ~4.9% yield), while technicals add support with an uptrend and moderate momentum.
Positive Factors
Improving profitability
The substantial improvement in net and operating margins indicates stronger earnings power and better profitability than in 2021. If maintained, this provides the bank with greater capacity to absorb credit costs, invest in digital and branch channels, and support shareholder returns.
Negative Factors
Declining revenue
Recent revenue contraction indicates that the bank has not yet converted its improved margins into sustained top-line growth. Prolonged weakness in loan, deposit, or fee-income expansion could constrain future earnings growth and make continued profitability improvement harder to achieve.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability
The substantial improvement in net and operating margins indicates stronger earnings power and better profitability than in 2021. If maintained, this provides the bank with greater capacity to absorb credit costs, invest in digital and branch channels, and support shareholder returns.
Read all positive factors
China CITIC Bank (0998) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$583.93B
Dividend Yield4.91%
Average Volume (3M)21.84M
Price to Earnings (P/E)7.3
Beta (1Y)0.46
Revenue Growth-0.51%
EPS Growth2.52%
CountryHK
Employees67,674
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.22
Shares Outstanding14,882,163,000
10 Day Avg. Volume24,847,569
30 Day Avg. Volume21,839,210
Financial Highlights & Ratios
PEG Ratio-1.61
Price to Book (P/B)0.46
Price to Sales (P/S)1.00
P/FCF Ratio5.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$9.87Price Target Upside18.59% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)1.26
Revenue Forecast (FY)HK$219.64B
China CITIC Bank Business Overview & Revenue Model
Company Description
Operating both within the People's Republic of China and globally, China CITIC Bank Corporation Limited delivers a comprehensive suite of banking solutions. Its operations are strategically structured into Corporate Banking, Personal Banking, and ...
How the Company Makes Money
China CITIC Bank primarily makes money through (1) net interest income and (2) non-interest (fee and commission) income, supplemented by (3) trading and investment-related income and other operating income.
1) Net interest income (core earnings e...
China CITIC Bank Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
33
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 343.96B | 347.02B | 375.89B | 379.30B | 373.76B | 362.59B |
| Gross Profit | 158.03B | 160.82B | 212.78B | 205.15B | 210.80B | 204.32B |
| EBITDA | 85.52B | 86.03B | 85.97B | 79.78B | 77.56B | 69.00B |
| Net Income | 72.01B | 68.79B | 68.58B | 67.02B | 62.10B | 55.64B |
Balance Sheet | ||||||
| Total Assets | 10.37T | 10.14T | 9.53T | 9.05T | 8.55T | 8.04T |
| Cash, Cash Equivalents and Short-Term Investments | 356.77B | 556.63B | 887.49B | 746.93B | 780.36B | 696.80B |
| Total Debt | 2.91T | 3.07T | 260.20B | 1.06T | 1.06T | 1.05T |
| Total Liabilities | 9.47T | 9.36T | 8.73T | 8.32T | 7.86T | 7.40T |
| Stockholders Equity | 883.05B | 759.14B | 789.26B | 717.22B | 665.42B | 626.30B |
Cash Flow | ||||||
| Free Cash Flow | -114.68B | 67.55B | -199.81B | -14.44B | 188.27B | -79.88B |
| Operating Cash Flow | -96.04B | 104.39B | -181.03B | -918.00M | 195.07B | -75.39B |
| Investing Cash Flow | -548.87B | -308.08B | -29.53B | 1.89B | -115.87B | -206.79B |
| Financing Cash Flow | 692.92B | -59.79B | 220.80B | -63.10B | -32.54B | 219.92B |
China CITIC Bank Technical Analysis
Positive
8.32
Price Trends
8.35
Positive
7.82
Positive
7.60
Positive
Market Momentum
0.01
Positive
57.20
Neutral
75.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0998, the sentiment is Positive. The current price of 8.32 is below the 20-day moving average (MA) of 8.38, below the 50-day MA of 8.35, and above the 200-day MA of 7.60, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 57.20 is Neutral, neither overbought nor oversold. The STOCH value of 75.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0998.
China CITIC Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$1.31T | 7.46 | 12.33% | 4.16% | -0.16% | 5.69% | |
72 Outperform | HK$583.93B | 7.28 | 9.32% | 4.91% | -0.51% | 2.52% | |
71 Outperform | HK$533.93B | 12.78 | 11.60% | 4.17% | -8.24% | 3.38% | |
68 Neutral | HK$720.43B | 8.04 | 8.44% | 4.38% | 1.86% | -7.09% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | HK$174.43B | 5.48 | 4.66% | 6.22% | -4.88% | -9.64% | |
46 Neutral | HK$204.24B | 6.11 | 5.88% | 7.21% | -7.38% | -19.59% |
* Financial Sector Average
HK:0998
China CITIC Bank
8.70
1.69
24.07%
HK:2388
BOC Hong Kong (Holdings)
50.50
14.25
39.31%
HK:6818
China Everbright Bank Co
2.74
-0.27
-8.83%
HK:1988
China Minsheng Banking
3.18
-0.58
-15.38%
HK:3968
China Merchants Bank Co
54.55
8.21
17.72%
HK:1658
Postal Savings Bank of China Co., Ltd. Class H
5.62
0.40
7.71%
China CITIC Bank Corporate Events
China CITIC Bank Sets Interim Dividend and Tax Terms for 2026
Oct 29, 2026
China CITIC Bank Corporation Limited has updated details of its interim ordinary cash dividend for the six months ended 30 June 2026, declaring RMB 2.03 per 10 shares for the financial year ending 31 December 2026. For Hong Kong shareholders, the ...
China CITIC Bank Affirms Governance as It Reports Q3 2026 Results
Oct 29, 2026
China CITIC Bank Corporation Limited, a major joint-stock commercial bank in mainland China, operates under IFRS Accounting Standards and maintains dual listings on the Shanghai Stock Exchange and The Stock Exchange of Hong Kong. It serves corpora...
China CITIC Bank Shareholders Back All Resolutions at Extraordinary Meeting
Oct 29, 2026
China CITIC Bank reported that its Third Extraordinary Shareholders’ Meeting of 2026 was duly convened in Beijing on October 29, with both onsite and online voting and full attendance by all 10 directors as non-voting delegates. The meeting ...
China CITIC Bank Completes RMB35 Billion Preference Share Redemption and Delisting
Oct 27, 2026
China CITIC Bank has completed the full redemption and delisting of its RMB35 billion domestic preference shares issued in October 2016, known as “CITIC Excellent 1” with stock code 360025. The move removes this hybrid capital instrume...
China CITIC Bank to Redeem and Delist RMB35 Billion Preference Shares
Oct 20, 2026
China CITIC Bank will fully redeem and delist its domestic preference shares issued in 2016 under the stock abbreviation “CITIC Excellent 1” and code 360025, totaling 350 million shares with an aggregate nominal value of RMB35 billion....
China CITIC Bank to Suspend Trading and Redeem CITIC Excellent 1 Preference Shares
Oct 20, 2026
China CITIC Bank announced that trading in its domestic preference shares, issued under the stock abbreviation CITIC Excellent 1 and stock code 360025, will be suspended from 23 October 2026. The bank plans to redeem and cancel all 350 million of ...
China CITIC Bank Sets Board Meeting to Approve Nine-Month Results
Oct 16, 2026
China CITIC Bank Corporation Limited has scheduled a meeting of its board of directors for 29 October 2026 in Beijing to review and approve the quarterly results for the nine months ended 30 September 2026. The announcement signals upcoming disclo...
China CITIC Bank to Redeem RMB35 Billion of Domestic Preference Shares in 2026
Oct 9, 2026
China CITIC Bank plans to redeem all 350 million domestic preference shares issued in October 2016, with a total nominal value of RMB35 billion, on 26 October 2026. These preference shares, traded under the abbreviation “CITIC Excellent 1...
China CITIC Bank Sets Interim Dividend and Tax Terms for 2026
Oct 8, 2026
China CITIC Bank Corporation Limited, a major Chinese commercial bank listed in Hong Kong, offers a broad range of retail and corporate banking services and maintains a strong presence in mainland China while accessing global capital via its H-sha...
China CITIC Bank Calls 2026 Extraordinary Meeting to Approve Profit Plan and Related-Party Caps
Oct 8, 2026
China CITIC Bank has called its Third Extraordinary Shareholders’ Meeting of 2026 for 29 October in Beijing to seek shareholder approval for its 2026 interim profit distribution plan. The meeting underscores the bank’s ongoing capital ...
China CITIC Bank to Redeem RMB35 Billion in Domestic Preference Shares in 2026
Sep 30, 2026
China CITIC Bank plans to redeem all 350 million domestic preference shares it non-publicly issued in October 2016, with an aggregate nominal value of RMB35 billion, on 26 October 2026. The redemption price will equal the nominal value plus accrue...
China CITIC Bank to Redeem RMB35 Billion in Domestic Preference Shares
Sep 21, 2026
China CITIC Bank has announced it will redeem all 350 million domestic preference shares issued in October 2016, with a total issuance size of RMB35 billion. The preference shares, listed under the abbreviation “CITIC Excellent 1” and ...
China CITIC Bank to Redeem RMB35 Billion in Domestic Preference Shares by October 2026
Sep 21, 2026
China CITIC Bank plans to redeem in full its non-public domestic preference shares issued in October 2016, totaling 350 million shares with an aggregate nominal value of RMB35 billion. The redemption, approved by the board and the National Financi...
China CITIC Bank outlines major continuing connected deals with CITIC Group
Aug 26, 2026
China CITIC Bank has entered into a series of three‑year framework agreements with its parent CITIC Group, covering asset transfers, comprehensive services, financial consulting and asset management, custody and account management, other fin...
China CITIC Bank Unveils 2026 Plan to Boost Corporate Value and Investor Returns
Aug 26, 2026
China CITIC Bank is a joint stock commercial bank in China that focuses on serving national strategies and the real economy, with substantial growth in assets, deposits and customer base placing it among the leading joint-stock banks by scale and ...
China CITIC Bank Declares Interim Dividend with Currency Option for 2026 Half-Year
Aug 26, 2026
China CITIC Bank Corporation Limited has declared an interim ordinary cash dividend of RMB 2.03 per 10 shares for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The ex-dividend date is set for 2 November 2026, w...
China CITIC Bank Announces 2026 Interim Results and RMB11.3 Billion Dividend Plan
Aug 26, 2026
China CITIC Bank has released its interim results for the six months ended 30 June 2026, with financial information prepared under Hong Kong Listing Rules and reviewed by KPMG and the bank’s audit committee. The interim report and detailed r...
China CITIC Bank Secures Regulatory Nod for Lyu Tiangui as Executive Director
Aug 20, 2026
China CITIC Bank has received regulatory approval from the National Financial Regulatory Administration confirming the qualification of President Lyu Tiangui to serve as an executive director. The approval, effective 17 August 2026, formalizes his...
China CITIC Bank Sets Line-Up for Seventh Session Board and Key Committees
Aug 20, 2026
China CITIC Bank has disclosed the composition of the seventh session of its board of directors, naming Chairman Fang Heying, President Lyu Tiangui and other executive, non-executive and independent non-executive directors. The announcement unders...
China CITIC Bank Sets Board Meeting to Approve Interim Results and Consider Dividend
Aug 14, 2026
China CITIC Bank has scheduled a board meeting for 26 August 2026 to review and approve the interim financial results for the six months ended 30 June 2026. The board will also consider whether to recommend an interim dividend, a decision that cou...
China CITIC Bank Announces Orderly Resignation of Vice President He Jinsong
Jul 31, 2026
China CITIC Bank has announced that Vice President He Jinsong has tendered his resignation, effective 31 July 2026, citing a change in work arrangements and confirming he will not hold any positions at the bank or its subsidiaries going forward. T...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.