Gelonghui 1st November | Guotai Junan Securities' research report pointed out that China Citic Bank Corporation (601998.SH) Q3 single-quarter revenue increased by 6.27% year-on-year, with single-quarter interest net income increasing by 3.69% year-on-year, showing some improvement compared to the previous quarter, mainly contributed by the recovery of net interest margin. The net interest margin for the first three quarters was 1.79%, up 2 basis points from the first half of the year, mainly due to continued cost savings in deposit costs after the 'manual supplement interest' ban. The net fee and commission income for the first three quarters still reported negative growth, but investment net income grew rapidly, and non-interest income achieved double-digit growth (YoY +11.17%), with a slightly higher growth rate compared to the first half of the year. The net income attributable to the parent company for the first three quarters of 2024 was 51.8 billion yuan, an increase of 0.76% year-on-year, showing an improved growth rate compared to the first half of the year. Due to a continuous recovery in net interest margins, improved profitability, and considering the ongoing improvement in asset quality, the rating remains 'buy'.