Money

CCB's profits up 34.23% in Q1

(Xinhua)
Updated: 2011-04-29 09:46

China Construction Bank (CCB), the nation's second largest lender by market value, said Thursday that its net profits in the first three months this year climbed 34.23 percent from a year earlier due to higher interest income and commissions.

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The bank's net profits climbed to 47.23 billion yuan ($7.26 billion), according to a statement filed with the Shanghai Stock Exchange.

Net interest earnings, or revenue from borrowers minus interest paid to depositors, climbed 25.27 percent to 71.63 billion yuan.

Commissions and income from fee-based services rose 37.29 percent to 23.15 billion yuan, the statement said.

The capital adequacy ratio of the bank stood at 12.45 percent at the end of March, down 0.23 percentage point from a year earlier.