Group Financial Results
Revenue
By nature
|
Year ended 31 December |
Increase/(Decrease) |
||
---|---|---|---|---|
HK$ million |
2022 |
2021 |
Amount |
% |
Net interest income |
183,297 |
181,973 |
1,324 |
0.7% |
Net fee and commission income |
75,909 |
49,720 |
26,189 |
53% |
Sales of goods and services |
466,823 |
452,163 |
14,660 |
3.2% |
– Sales of goods |
408,026 |
385,350 |
22,676 |
5.9% |
– Revenue from construction contracts |
24,532 |
34,589 |
(10,057) |
(29%) |
– Revenue from other services |
34,265 |
32,224 |
2,041 |
6.3% |
Other revenue |
45,104 |
25,080 |
20,024 |
80% |

Expected credit losses and other impairment losses
In 2022, expected credit losses and impairment losses of HK$100,727 million were recorded, a decrease of 3.9% from the previous year. CITIC Bank provided provision of HK$83,063 million, including HK$64,895 million expected credit losses for its loans and advances to customers.
Net finance charges
In 2022, the finance costs of the Group amounted to HK$9,700 million, a year-on-year increase of HK$267 million, or 2.8%, mainly due to the increase in interest expenses from loans.
In 2022, the finance income of the Group amounted to HK$1,364 million, a year-on-year decrease of HK$672 million, or 33%, mainly due to the decrease in interest income from bank deposits.
Income tax
In 2022, income tax of the Group was HK$24,828 million, an increase of HK$3,965 million, or 19%, as compared with last year, this was consistent with the increase in profit before taxation.