CCB 2008 net rises 34% to 92.6b yuan

China Construction Bank (CCB), the world's second largest lender by market value, on Friday posted a 34-percent rise in 2008 net profit on higher interest and fee income, and despite losses on its US sub-prime mortage-related holdings.

The bank, however, said net profit in the fourth quarter fell 30 percent to 8.4 billion yuan on increased provisioning for its overseas investment losses.

CCB's full-year net profit rose to 92.6 billion yuan from 69.1 billion yuan in 2007.