China Construction Bank revealed its operating results for the first half of 2018 and announced three major strategic imperatives: Fintech, inclusive finance, and housing rental
October 24, 2017 | The Asian Banker
China Construction Bank Corporation (CCB), headquartered in Beijing is one of the four mega commercial banks in China. With 14,986 banking outlets, the bank has commercial banking branches and subsidiaries in 29 countries and regions, and provides services to millions of personal customers and corporate clients.
On August 28th 2018, CCB released its 2018 interim operating results. The bank focused on supporting the real economy, preventing and controlling financial risks and deepening financial innovation. The bank adhered to steady and compliant operations, showing a steady growth in assets and liabilities, good profit growth, stable asset quality and a high capital adequacy ratio.
In the first half of 2018, the bank’s total assets amounted to $3.35 trillion (RMB22.81 trillion), representing a year-on-year increase of 3.08%, and net profit reached $37.44 billion (RMB243.62 billion), a growth of 4.83% from the previous year.
Core indicators remained steady and coordinated. The return on average assets was 1.31%, the return on average equity was 16.66%. The bank’s tier-1 ratio and common equity tier-1 ratio were 13.68% and 13.08% respectively. The non-performing loan (NPL) ratio fell 0.01 percentage point to 1.48% from the end of last year.
CCB committed to building a better life and enabling customers to enjoy the achievements of modern financial development. In the first half of 2018, the bank’s operations and innovations focused on 3 major strategies of fintech, inclusive finance, and housing rental.
CCB continued to accelerate its fintech strategy to create new competitive advantages. By continuously improving its control over internet banking security and promoting security measures such as biometric authentication, CCB continued to build its proactive cloud security system. Following the launch of an online platform for comprehensive housing rental services...
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