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CCB's profit up 28% in 1st three quarters

(Xinhua)
Updated: 2010-10-30 11:18
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BEIJING - China Construction Bank Corp, the country's second-largest lender by market value, said Friday its profit in the first three quarters of this year rose 28.41 percent, boosted by rising interest income, commissions and a decline in non-performing loans.

Net profit increased to 110.6 billion yuan ($16.5 billion) in the first nine months, the Beijing-based lender said in a statement filed with the Shanghai Stock Exchange.

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Further, interest income rose 17.1 percent year on year to 182.2 billion yuan, while commissions climbed 36.12 percent to 48.68 billion yuan.

Additionally, CCB's non-performing loans fell by 9.5 billion yuan from the end of last year to 62.6 billion yuan by the end of September. Its capital adequacy ratio slipped to 11.64 percent, compared with 11.68 percent three months earlier. The nation's largest State-owned banks are required to maintain a capital adequacy ratio of at least 11.5 percent.

The company also said Friday it had received a nod from the China Securities Regulatory Commission to raise less than 75 billion yuan in Shanghai and Hong Kong to replenish its capital.