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CCB Earns 6.8 Billion Yuan in 1st Three Quarters
The China Construction Bank (CCB) announced Tuesday that in the first three quarters of this year, it earned a profit of 6.8 billion yuan (approximately 872 million U.S. dollars).
A spokesman for the CCB said that this figure represents an increase of 14 billion yuan from the same period last year.
He said that the CCB's overall development and operating plan implemented at the beginning of this year is the major factor accounting for the profit increase. Over the past three quarters the bank attributed corporate business, individual banking business, real estate and financial business and intermediate business as the major sources of profit growth.
According to statistics, by the end of September the bank's newly increased loans hit 175 billion yuan, and the interest income was 1.3 billion yuan more than its planned figure; the income from intermediate businesses was 1.58 billion yuan, up 45 percent from the same period last year; interbank deposits also increased fairly quickly.
He attributed the profit growth to the increase of the bank's net margin income and intermediate business income, as well as the decrease in capital reserve expenditure.
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