China Citic Bank profit rises 9pc to 14b yuan

China CITIC Bank (0998) saw first-quarter net profit grow by 9.36 percent year-on-year to 14.45 billion yuan (HK$15.83 billion) but non-performing loans also rose 15 basis points from end-2019 to 1.8 percent.

Net interest income grew by 5.96 percent from a year ago to 31.91 billion, and net non-interest income also rose 13.62 percent to 19.66 billion yuan during the first quarter this year. The bank's stock slid 1.1 percent to HK$3.58.

Tissue paper maker Vinda International (3331) said first-quarter net profit rose 65 percent from a year ago to HK$377 million, while revenue fell 16.2 percent to HK$3.42 billion.

Shares of Vinda dropped 2.81 percent to HK$22.50.

China Telecommunications Corporation (0728) posted its first-quarter net profit fell 2.2 percent from a year ago to 5.82 billion yuan (HK$6.37 billion), with the number of 5G package subscribers rising 12 million.

Revenue fell 1.4 percent from a year ago to 94.79 billion yuan in the first quarter, while service revenue rose 0.7 percent to 92.14 billion yuan. The company recorded 337 million mobile subscribers as the end of March, a net addition of 98 million.

The stock rose 1.57 percent to HK$2.59 Thursday.