CCB's 12% rise in profit trails peers
By Hu Xiaocen |
October 29, 2012, Monday
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Print Edition
Print Edition
CHINA Construction Bank posted an annual 12 percent rise in third-quarter net profit on a wider net interest, but its results trailed two of the big four domestic banks.
Net earnings at CCB, the nation's second-biggest lender, totaled 51.9 billion yuan (US$8.2 billion) in the three months. Its net profit in the first nine months topped 158.2 billion yuan under international accounting standards, it said.
But CCB's 12 percent growth in net income in the third quarter was slower than the Agricultural Bank of China's 16 percent and Bank of China's 17 percent.
CCB's net interest margin gained 0.06 percentage point annually in the first three quarters to 2.74 percent, the bank said.
Its interest income grew 18 percent in the third quarter annually to 91.3 billion yuan, while net fee and commission income fell 2 percent to 20.7 billion yuan.
CCB's bad loans rose 2.5 billion yuan in the quarter to 72.9 billion yuan, and the bad loan ratio was 1 percent by the end of September.
Net earnings at CCB, the nation's second-biggest lender, totaled 51.9 billion yuan (US$8.2 billion) in the three months. Its net profit in the first nine months topped 158.2 billion yuan under international accounting standards, it said.
But CCB's 12 percent growth in net income in the third quarter was slower than the Agricultural Bank of China's 16 percent and Bank of China's 17 percent.
CCB's net interest margin gained 0.06 percentage point annually in the first three quarters to 2.74 percent, the bank said.
Its interest income grew 18 percent in the third quarter annually to 91.3 billion yuan, while net fee and commission income fell 2 percent to 20.7 billion yuan.
CCB's bad loans rose 2.5 billion yuan in the quarter to 72.9 billion yuan, and the bad loan ratio was 1 percent by the end of September.
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