China Travel & Tourism News
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Construction Bank pretax profit up 34%
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| 13-Jun-2005 - Xinhua |
China Construction Bank said Thursday its 2004 pretax profit rose 34.01 percent to a record high of 50.2 billion yuan (US$6.07 billion).
Its nonperforming loan ratio dropped to 3.92 percent and its capital adequacy ratio reached 11.29 percent, the bank said.
The bank said its pretax profit increased by 12.74 billion yuan from 2003. Its net interest income was 100.3 billion yuan last year, an increase of 11.35 billion yuan from the previous year.
New deposits in 2004 rose 9.2 percent to 295.3 billion yuan and lending rose 11.5 percent to 229.6 billion yuan, the bank said in a statement.
New lending consisted mainly of mortgages and loans for construction projects last year.
Provisions amounted to 8.83 billion yuan, up 661 million yuan from the previous year.
The delay in issuing its annual financial report, which was approved by the relevant regulatory agency, was due to the bank’s restructuring last year, China Construction Bank said.
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| 13-Jun-2005 - Xinhua |
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