China Construction Bank posts 25% profit growth
(3 April 2012 – China) China Construction Bank (CCB) posted a 25 percent net profit growth for 2011, raking in US$26.89 billion (A$25.86 billion).
The bank netted CNY134.84 billion or US$21.38 billion in 2010.
CCB's net interest income for the 12 months ended 31 December 2011, grew 21 percent to US$48.3 billion from US$ 39.88 billion, and its net fee and commission income rose to US$13.79 billion from US$10.48 billion.
The Bank’s net interest margin improved to 2.7 percent at the end of last year from 2.49 percent in the previous year, while its operating income stood at US$63.28 billion compared to US$51.55 billion during the same period the previous year.
Profit before tax for the full year 2011 was US$34.73 billion against $27.75 billion during the corresponding period the prior year.
The bank also announced that its loans to the real estate industry grew by 0.2 percent last year, compared with a 12 percent increase in 2010.
Total non-performing loans ratio dropped to 1.09 percent from 1.14 percent over the same period.
The bank’s capital adequacy ratio was 13.68 percent as of the end of last year, higher than the 12.68 percent in 2010, while its core capital adequacy ratio stood at 10.97 percent as of 2011, up from the 10.40 percent in 2010, CCB said.
CCB's net interest income for the 12 months ended 31 December 2011, grew 21 percent to US$48.3 billion from US$ 39.88 billion, and its net fee and commission income rose to US$13.79 billion from US$10.48 billion.
The Bank’s net interest margin improved to 2.7 percent at the end of last year from 2.49 percent in the previous year, while its operating income stood at US$63.28 billion compared to US$51.55 billion during the same period the previous year.
Profit before tax for the full year 2011 was US$34.73 billion against $27.75 billion during the corresponding period the prior year.
The bank also announced that its loans to the real estate industry grew by 0.2 percent last year, compared with a 12 percent increase in 2010.
Total non-performing loans ratio dropped to 1.09 percent from 1.14 percent over the same period.
The bank’s capital adequacy ratio was 13.68 percent as of the end of last year, higher than the 12.68 percent in 2010, while its core capital adequacy ratio stood at 10.97 percent as of 2011, up from the 10.40 percent in 2010, CCB said.
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