Arab Today, arab today china construction bank 2015 net profits flat
Last Updated : GMT 15:56:38
Arab Today, arab today
Arab Today, arab today

China Construction Bank 2015 net profits flat

Arab Today, arab today

Arab Today, arab today China Construction Bank 2015 net profits flat

China Construction Bank (CCB)
Shanghai - AFP

China Construction Bank (CCB), the country's second-largest lender, reported flat growth in net profit last year, as bad loans jumped with economic growth slowing.

The bank's net profit edged up 0.14 percent year-on-year to 228.15 billion yuan ($35 billion) in 2015, slowing from a 6.1 percent annual increase in 2014, according to a statement released late on Wednesday.

CCB, one of the country's "Big Four" state-owned lenders, said it "witnessed a more complex and changing global economic situation" including volatility in global financial markets and commodity prices.

China's economy -- the world's second largest -- grew 6.9 percent in 2015, the slowest pace in a quarter of a century.

The government is seeking to shift its economic drivers away from cheap exports and massive government investment to domestic consumption but has warned of slower growth under what leaders have dubbed the "new normal".

"The growth in net profits of banks has dropped significantly due to fast rises in non-performing loans," Guotai Junan Securities analyst Richard Cao told AFP.
CCB's non-performing loan (NPL) ratio reached 1.58 percent last year, up from 1.19 percent in 2014. The bank's Shanghai-traded shares closed down 1.02 percent on Thursday after the results announcement.

The Agricultural Bank of China (ABC) on Thursday reported the highest NPL ratio among the four major banks, rising to 2.39 percent at end-2015 from 1.54 percent in 2014.

The bank, which has roots lending in rural areas, said net profit rose just 0.62 percent year-on-year to 180.58 billion yuan in 2015, according to a statement.

Its share price closed unchanged ahead of the result.

The other two of the "Big Four", Industrial and Commercial Bank of China (ICBC) and Bank of China (BOC), on Wednesday also reported weak rises in net profit and growing bad loans.

ICBC, China's biggest bank, said that net profit gained 0.48 percent year-on-year to 277.13 billion yuan in 2015.

BOC, the main foreign exchange bank, reported that its net profit rose 0.74 percent to 170.85 billion yuan.

A series of interest rate cuts aimed at supporting economic growth have also hurt banks' earnings, analysts said, and the banking sector will continue to feel the pain with China's economy expected to slow further this year.

"A combination of interest-rate cuts and worsening asset quality will continue to have an impact on profitability in 2016," ratings agency Fitch said in a note last week.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china construction bank 2015 net profits flat Arab Today, arab today china construction bank 2015 net profits flat

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday