CITIC Securities Co Ltd (6030.HK)
14 Oct 2019
Thu, Aug 22 2019
* CITIC Securities reports fastest H1 profit growth in 3 years
SHANGHAI/BEIJING, Aug 22 China's biggest brokerage, CITIC Securities Co reported on Thursday a 15.8% rise in first-half 2019 profit, led by the investment banking business.
HONG KONG (Reuters Breakingviews) - CLSA's exodus is leaving Citic with an empty shell. The brokerage's star analysts are being poached by rivals like Credit Suisse and Jefferies. They take with them much of the brand value China's Citic Securities paid $1.3 billion for in 2013. Such mergers tend to be messy. But the state-owned group has missed plenty of opportunities to do better.
SINGAPORE/BEIJING, April 29 China's biggest brokerage, CITIC Securities Co Ltd , reported a 58 percent rise in first-quarter profit on Monday, as investment returns surged on the back of a rally in Chinese stock markets.