China Construction Bank net profit up 4.1% in Q3

BEIJING — China Construction Bank, a major State-owned lender, said on Thursday its net profit rose 4.1 percent year-on-year to 62.9 billion yuan (about $9.5 billion) in the third quarter.

For the first three quarters, the lender saw net profit up 3.8 percent to 201 billion yuan, according to the bank's quarterly report.

Its net interest income went up 5.6 percent to 333 billion yuan in the first nine months, while net commission and fee income came in at 93.6 billion yuan during the period.

By the end of September, the bank's non-performing loans ratio stood at 1.5 percent, down 0.02 percentage point from the end of 2016.

The lender's total assets amounted to 22 trillion yuan, up 5.2 percent from the end of 2016, while liabilities came in at 20.3 trillion yuan.

Official data showed the bad loan ratio at Chinese commercial banks stood at 1.86 percent at the end of August, with total assets reaching 239 trillion yuan.