CITIC BANK (00998.HK) +0.090 (+1.741%) Short selling $13.04M; Ratio 5.225% has announced its preliminary results for last year, which delivered a positive surprise in net profit and asset growth, UBS remarked in its report.The bank's revenue increased by 3.8% YoY last year, roughly in line with the growth trajectory of 1-3Q24. Meanwhile, its net profit growth accelerated from a 0.8% increase in 1-3Q to a 2.3% increase for the full year, far exceeding the broker's earlier expectations, likely due to reduced impairment expenses in 4Q24. Even though the non-performing loan coverage ratio dropped by 6.57 ppts, the non-performing loan ratio remained stable at 1.16% QoQ.Related NewsCiti: CM BANK/ CITIC BANK 2024 Preliminary Results BeatUBS gave CITIC BANK a Buy rating with a target price of $6.1 for its H-shares.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-15 16:25.)