CITIC's integrated financial services platform provides clients and customers with innovative services in banking, trust, insurance and securities.
We own over 65% of CITIC Bank, which is listed in Hong Kong (SEHK: 998) and Shanghai (SSE: 601998). CITIC Bank is a leading joint-stock commercial with a full range of services and strong brand recognition in China. It offers corporate and institutional clients a wide range of services, including corporate banking, financial markets, investment banking, and a custody business, among others. Also provided for personal customers are integrated services and products, such as retail banking, credit card, consumer finance and private banking. CITIC Bank operates over 1,400 branches in China, while its subsidiary CITIC Bank International has more than 30 outlets in Hong Kong as well as overseas branches in Macau, Singapore, New York and Los Angeles. In recent year, CITIC Bank continued to accelerate its digital transformation by allocating more resources to push Fintech innovation. In collaboration with Baidu, CITIC Bank launched CITIC AiBank at the end of 2017 as an initial step towards the development of an internet banking business. With over RMB6 trillion in total assets, CITIC Bank was ranked 19th in the Top 500 Banking Brands by British financial magazine The Banker.
We own 100% of CITIC Trust, which is the leading trust company in China. CITIC Trust comprises a trust business, a specialised subsidiary business and a proprietary business. In the trust business, it offers financing, wealth management and a trust service. Its trust assets are allocated in the infrastructure, manufacturing, healthcare, and cultural and entertainment sectors. CITIC Trust has maintained a leading market position in terms of revenue, fee income, profit attributable to shareholders and profit attributable to beneficiaries for more than a decade. It also has a strong research team, solid capital strength and a prudent risk management system to support its sustainable growth.
CITIC-Prudential Life is a 50:50 joint venture between CITIC Corporation and Prudential Corporation Holdings. Focusing on protection products and long-term investment insurance, it offers life, health and accident insurance to provide full life-cycle solutions for clients. CITIC-Prudential Life has 21 subsidiaries and operates in 94 cities in China market. Agency and bancassurance are CITIC-Prudential Life's two primary distribution channels. With policies in place to enhance profitability, this business has a solid solvency adequacy ratio and a stringent risk management system to support long-term balanced growth.
We own approximately 16% of CITIC Securities, the leading securities company in China and the first Chinese securities company to be listed in Hong Kong (SEHK: 6030) and Shanghai (SSE: 600030). CITIC Securities maintains leading market positions in several areas, including trading, brokerage, asset management and investment banking. In 2013, CITIC Securities successfully acquired CLSA, Asia's leading and longest-running brokerage and investment group. As the international arm of CITIC Securities, CLSA covers major global stock markets with a focus on institutional clients.
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