BIZCHINA> Top Biz News
|
CCB 2008 net rises 34% to 92.6b yuan
By Yang Zhen (China Daily)
Updated: 2009-03-28 09:42 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, despite losses on its US sub-prime mortgage-related holdings.
The bank's overall allowance for impairment losses for the full year jumped by 84.2 percent to 50.8 billion yuan, from the previous year's 27.6 billion yuan. The bank's non-performing loans ratio decreased to 2.21 percent, from 2.60 percent.
The bank's net interest margin rose to 3.24 percent in 2008, from 3.18 percent in 2007. CCB's earnings per share grew 33.33 percent in 2008 to 0.40 yuan from 0.30 yuan. Despite hiking the dividend to 0.084 yuan per share, from 0.065 yuan per share a year earlier, CCB's dividend payout ratio fell 20.9 percent in 2008 from 21.7 percent in 2007. (For more biz stories, please visit Industries)
|