By Tracy Qu


Citic posted a small rise in first-quarter net profit, with higher operating income offsetting an increase in expected credit losses.

The Chinese state-owned investment company's first-quarter net profit rose 0.3% on year to 15.03 billion yuan (US$2.08 billion), it said in a filing on Monday.

Operating income rose 4.3% to CNY92.55 billion in three months ended March 31. Expected credit losses rose to CNY16.11 billion from CNY12.76 billion a year ago.


Write to Tracy Qu at tracy.qu@wsj.com


(END) Dow Jones Newswires

05-20-24 0651ET