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April 12, 2010

CCB reports record net profits in 2009

by Richard Kilner

Story link: CCB reports record net profits in 2009

The CCB (China Construction Bank Corporation) has announced its annual operating results for 2009.

The bank saw its total assets rise by 27% to RMB9.62 trillion, with customer deposits up 25% to RMB8 trillion.

Year-on-year the CCB’s pre-tax profits surged by 16% to RMB138bn, with net profit up by 15% to break the RMB100bn barrier for the first time at RMB107bn.

President Zhang Jianguo has stated that the bank pursued a policy of proactive yet prudent activity during the year, seizing opportunities and controlling risks.

Chairman Guo Shuqing indicated that the bank would retain its prudent approach in 2010, and seek to increase both its profits and its grip on risks.

The ICBC (Industrial and Commercial Bank of China) also reported its results recently, recording a rise in net profits of over 16% to RMB129.4bn.

 

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