
Active
This profile is actively maintained
Active
This profile is actively maintainedWebsite | http://www.citicbank.com |
Headquarters |
Fuhua Mansion Block C, No. 8 Choayangmen Beidajie, Dongcheng District
100027 Beijing
China
|
CEO/chair |
Fang Heying Executive Director, President and CFO |
Supervisor | |
Ownership |
listed on Hong Kong Stock Exchange & Shanghai Stock Exchange
China CITIC Bank's shareholder structure can be accessed here. |
China CITIC Bank was founded in 1987 and is headquartered in Beijing. It was one of China's first commercial banks that engaged in financing in both domestic and international financial markets. The bank has three subsidiaries: CITIC International Financial Holdings, China Investment and Finance, and Zhejiang Lin'an CITIC Rural Bank. China CITIC Bank provides services in wealth management; credit card services; consumer credit; private banking and corporate banking.
China CITIC Bank has no publicly available investment policies, nor does it have a web page on corporate social responsibility or its commitments. The bank only lists its most recent annual CSR reports.
China CITIC Bank is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of China CITIC Bank's link to these deals.
Banks and Climate
The 2022 Banking on Climate Chaos report showed that China CITIC Bank provided US$ 60.49 in financing to the fossil fuel industry between 2016 and 2021. Find further details on China CITIC Bank fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.
Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of China CITIC Bank fossil fuel policy below.
Banks and Nature
China CITIC Bank's policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 0 out of 10 and ranking it as a laggard. China CITIC Bank achieved a score of 0 out of 10 specifically for its policies related to the beef sector and 0 out of 10 for its policies related to the palm oil sector. Between 2016 and 2022, China CITIC Bank provided USD 3,328 million in credit to companies operating in these forest-risk sectors and held investments amounting to USD 3 million as of 2022. For more information, see the links below.
Forest & Finance Policy Assessment 2022: Overall scores
A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Forest & Finance Policy Assessment 2022: Beef
A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Forest & Finance Policy Assessment 2022: Palm Oil
A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
China CITIC Bank does not operate a complaints or grievances channel for individuals or communities that may be adversely affected by its finance.
This page evaluates China CITIC Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
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