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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.

Group Cash Flows
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