Group Financial Results
Revenue
By nature
|
|
Year ended 31 December |
Increase/(Decrease) |
||
|---|---|---|---|---|
|
HK$ million |
2021 |
2020 |
Amount |
% |
|
Net interest income |
181,973 |
172,018 |
9,955 |
5.8% |
|
Net fee and commission income |
49,720 |
39,178 |
10,542 |
27% |
|
Sales of goods and services |
452,163 |
323,808 |
128,355 |
40% |
|
– Sales of goods |
385,350 |
268,964 |
116,386 |
43% |
|
– Revenue from construction contracts |
34,589 |
24,984 |
9,605 |
38% |
|
– Revenue from other services |
32,224 |
29,860 |
2,364 |
7.9% |
|
Other revenue |
25,080 |
17,945 |
7,135 |
40% |
Expected credit losses and other impairment losses
In 2021, expected credit losses and asset impairment losses of HK$104,798 million were recorded, an increase of 4.2% from the year before. CITIC Bank accounted for HK$92,792 million of these losses, including HK$60,492 million expected credited losses in its loans and advances to customers.
Net finance charges
In 2021, the finance costs of the Group amounted to HK$9,433 million, a year-on-year decrease of HK$1,717 million, or 15%, mainly due to the decrease in interest expenses from loans.
In 2021, the finance income of the Group amounted to HK$2,036 million, a year-on-year increase of HK$770 million, or 61%, mainly due to the increase in interest income from bank deposits.
Income tax
In 2021, income tax of the Group were HK$20,863 million, an increase of HK$4,073 million as compared with last year, this was consistent with the increase in profit before taxation.
