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CCB net profit up 25.48%

Updated: 2012-03-26 10:11


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BEIJING - China Construction Bank (CCB), the nation's second-largest lender by market value, announced on Sunday that its net profit in 2011 jumped 25.48 percent year-on-year due to a rebounding net income margin.

The bank's net profit reached 169.4 billion yuan ($26.89 billion) last year, a growth that further consolidated its position as one of China's most profitable companies, according to the annual report CCB filed with the Shanghai Stock Exchange.

Net interest earnings, or revenue from borrowers minus interest paid to depositors, climbed 21.1 percent from a year earlier to 53.07 billion yuan in 2011.

Commissions and income from services charge remained another major contributor to the bank's profit growth, with an increase of 31.55 percent, or 20.86 billion yuan.

The capital adequacy ratio (CAR) of the bank further improved by one percentage point to 13.68 percent last year.

Non-performing loans outstanding rose by 6.2 billion yuan to reach 70.91 billion yuan at the end of 2011, with its non-performing loan ratio slipping slightly to 1.09 percent.

CCB's total assets added 13.61 percent year-on-year to amount to 12.28 trillion yuan, while gross liabilities rose 13.41 percent to 11.46 trillion yuan.