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China Construction Bank Lends $229 Billion in H1

MT Newswires ·  {{timeTz}}

11:06 PM EDT, 09/04/2022 (MT Newswires) -- China Construction Bank (SHA:601939, HKG:0939) issued 1.58 trillion yuan ($229 billion) in loans in the first half of the year, up 8.41% from the end of 2021, according to its interim results released last week.

China's second-biggest bank in terms of assets — according to S&P Global Market Intelligence's 2021 rankings — ended the first half with 20.39 trillion yuan in gross loans and advances to customers from 18.81 trillion yuan by the end of 2021.

Corporate loans and advances climbed 10.5% from the end of last year to 10.6 trillion yuan by the end of June. The loans were mainly issued to sectors such as infrastructure, wholesale and retail trade and manufacturing amid a slowdown in real estate development activity and in consumption during the first half.

Personal loans and advances climbed 2.5% during the same comparable period to 8.09 trillion yuan, while loans and advances made by overseas operations and subsidiaries edged up 3.8% to 933.03 billion yuan.

During the first half, the bank's net profit climbed 5.4% year over year to 161.64 billion yuan, while revenue rose 2.5% to 390.36 billion yuan. Its non-performing loan ratio came in at 1.4%, down from 1.42% at the start of the year.

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