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CCB steadies the ship

China Construction Bank enjoyed a strong year, benefiting from sharply higher trading income and better asset quality.

China Construction Bank spent the year doing what it does best under the leadership of chairman Tian Guoli: lending to other big state enterprises, watching the income roll in, and keeping its non-performing loan ratio low.

It might be boring – but boring can be good.

The Beijing-based lender posted a net profit of Rmb223 billion ($36.5 billion) in the first three quarters of the year, up 12.3% year on year. Revenues rose 9.3% over the same period, to Rmb624 billion, with fee income up 6.2%.

Net income in the third quarter came in at Rmb78.9 billion, up 15.7% over the previous year: driven, Nomura said in a research note dated October 31, by strong trading income and lower impairment losses.

Tian Guoli

Trading income leapt 554% in the third quarter year on year, and now makes up 6% of total operating income.


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