China Construction Bank Profit Rises 24% on Lending, Fees
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China Construction Bank Corp., the world’s second-largest lender by market value, posted a 24 percent increase in fourth-quarter profit after higher lending and fee income outweighed provisions set aside for bad debt.
Net income climbed to 30.2 billion yuan ($4.8 billion) in the quarter, from 24.4 billion yuan, according to calculations based on full-year figures published by the Beijing-based lender yesterday. That compared with the 31.4 billion-yuan average estimate of 22 analysts in a Bloomberg survey.