By Justina Lee


China Citic Bank Corp. posted a 12% increase in its full-year net profit, supported by higher operating income and a decline in its nonperforming loan ratio.

Net profit for the year rose to 62.10 billion yuan ($8.96 billion) from CNY55.64 billion a year earlier, the company said late Wednesday after market close.

Operating income was at CNY211.11 billion, up 3.2% from a year earlier.

Its NPL ratio fell to 1.27% from 1.39% a year earlier.

The board proposed to distribute a cash dividend of CNY3.29 for every 10 shares for 2022.

"In the past year, our stock price and market cap growth performed well, to rank among the top domestic listed banks," the company said.


Write to Justina Lee at justina.lee@wsj.com


(END) Dow Jones Newswires

03-23-23 2000ET