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Chinese Bank Makes Record Profit
The China Construction Bank announced Monday that in the first half of this year it made a pre-tax profit of 4.54 billion yuan (about 554 million US dollars), a record high for the first six months of the year.
The bank's president Wang Xuebing said that by June 30, the rate of the bank's non-performing loans had dropped 1.71 percentage points from the beginning of the year, and all the operational indices had been further improved.
In addition, the bank's capital yield rate was 14.41 percent, or 6.75 percentage points higher than the same period last year; while profits accounted for 38.2 percent of its total income, an increase of 16.24 percent.
Wang said that in the first half of the year, the bank enjoyed steady progress in all of its businesses and its business structure was further rationalized. By the end of June, the bank's outstanding deposits had reached 2.1184 trillion yuan, an increase of 125.5 billion yuan over the beginning of the year; while the outstanding loans reached 1.4352 trillion yuan, an increase of 58. 8 billion yuan.
Statistics show that the bank increased its loan input in the housing and consumption sectors, with housing loans growing by 29. 1 billion yuan and individual consumption loans by 2.8 billion yuan.
Wang said that in the second half of this year the bank will continue to deepen its reforms, establish a modern financial enterprise management structure, further improve asset quality and actively push forward financial innovation.
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