Economics
Construction Bank Mirrors China Economy With Net Slowdown
This article is for subscribers only.
China Construction Bank Corp., the first of the nation’s big lenders to post third-quarter earnings, reported falling fee income, rising bad loans and the weakest profit growth since 2009.
Net income gained 5 percent to 59.6 billion yuan ($9.7 billion) from a year earlier, the nation’s second-biggest lender said in a filing yesterday. That compared with the 61 billion yuan median estimate of nine analysts surveyed by Bloomberg News. The lender’s shares fell.