China Construction Bank Corporation (“CCB” or the “Bank”) (Stock Code: 939) announced its operating results for the first half of 2007.
During the period, CCB captured important opportunities derived from the PRC’s rapid economic growth and the booming capital market to accelerate the strategic transformation of its businesses. The Bank both consolidated its intrinsic strengths, and aggressively expanded into new business segments, creating positive results.
As at 30 June, 2007, the total assets of CCB rose above RMB6 trillion. Operating income grew by 40.81% year-on-year, or RMB28.922 billion, to RMB99.786 billion, while profit before tax reached RMB50.542 billion, representing a 54.03% growth or an increase of RMB17.728 billion. CCB was one of the leading Chinese banks in terms of the ratios of return on average equity and return on average assets, as well as the balance and incremental increase in personal loans and the balance of residential mortgage loans. In addition, net interest income increased steadily. Net fee and commission income increased by 101.79% year-on-year to RMB12.660 billion. The Bank made significant achievements in risk control and successfully reduced both the amount and ratio of its non-performing loans, where the ratio fell to 2.95%.
“In line with the world’s economic development and the robust growth of the Chinese economy, CCB responded quickly to market forces with a forward-looking perspective. This approach has allowed us to fully implement our development strategy, seizing opportunities, deepening reforms, strengthening our management, better conforming to laws and regulations, and making important innovations, resulting in overall improvements in service standards and efficiency,” said Zhang Jianguo, President of CCB. “In the first half of 2007, the Bank achieved a rapid, healthy and steady development in operations. This helped establish a solid foundation for fulfilling our operating targets for the full year.” -China Construction Bank
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