CITIC Securities Co, China’s biggest brokerage, reported a 3.6% rise in first-quarter profit on Thursday, thanks to stronger investment returns as the economy recovers, reports Reuters. Net profit in the January-March period rose to RMB 5.4 billion ($780.22 million), the company said in a stock exchange filing.
The company’s investment income surged 89.6% year-on-year to RMB 5.82 billion in the first quarter this year.
Its net fee and commission income fell 10.8% to RMB 7.3 billion, the filing showed.