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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China CITIC Bank Corporation Limited    601998   CNE1000000R4

CHINA CITIC BANK CORPORATION LIMITED

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China CITIC Bank : Kazakh bank syndicates loan to Uzbek bank

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08/15/2019 | 12:16am EDT

Altyn Bank JSC (a subsidiary of China CITIC Bank Corporation Ltd in Kazakhstan) funded Qishloq Qurilish Bank (Uzbekistan) for $3 million under a syndicated loan, the authorized public organizer of which was a Russian public joint-stock company (PJSC) Transcapitalbank, Trend reports citing Forbes Kazakhstan.

The parties to the transaction, in addition to Altyn Bank, were 6 Russian financial institutions. The loan was provided to the borrower for a period of up to one year for general corporate purposes, as well as for financing trade contracts of the borrower's customers.

"This syndicated loan was the first in the history of the banking system of Uzbekistan, a country implementing large-scale economic reforms, and we hope that this debut transaction will usher in long-term cooperation with Uzbek and Russian partners," Deputy Chairman of the Board of Altyn Bank JSC Zhanara Aikimbaeva said.

Altyn Bank JSC (subsidiary bank of China CITIC Bank Corporation Limited), formerly a subsidiary bank of HSBC Bank Kazakhstan JSC, has been present in the banking market of Kazakhstan since 1998, it is a universal commercial bank with a wide range of products and services for corporate and retail customers.

The Bank's shareholders are: Halyk Bank of Kazakhstan JSC, China CITIC Bank Corporation Limited, as well as China Investment Company Shuangwei Limited Liability Company.

Uzbek JSCB "Qishloq Qurilish Bank" was formed in 1994. A significant part of the Bank's activities relates to fulfilling the role of a state agent in improving the living conditions of the rural population and financing construction work in rural areas, improving the development of industrial and social infrastructure in rural areas by issuing long-term mortgages to residents of these regions and providing universal banking services.

© 2019 Trend News Agency ALL RIGHTS RESERVED, source News Service

Stocks mentioned in the article
ChangeLast1st jan.
CHINA CITIC BANK CORPORATION LIMITED 0.36% 5.57 End-of-day quote.1.83%
CITIC LTD -0.33% 9.05 End-of-day quote.-25.45%
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Financials (CNY)
Sales 2019 182 B
EBIT 2019 130 B
Net income 2019 46 293 M
Debt 2019 -
Yield 2019 4,36%
P/E ratio 2019 5,85x
P/E ratio 2020 5,58x
Capi. / Sales2019 1,48x
Capi. / Sales2020 1,38x
Capitalization 270 B
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Mean consensus HOLD
Number of Analysts 19
Average target price 5,97  CNY
Last Close Price 5,57  CNY
Spread / Highest target 72,4%
Spread / Average Target 7,25%
Spread / Lowest Target -21,0%
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De Shun Sun President & Executive Director
Qing Ping Li Chairman
Cheng Liu Chairman-Supervisory Board
He Ying Fang Chief Financial Officer & Vice President
Guo Qiang Cao Non-Executive Director
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