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Big four banks H1 net profits total 179.13b yuan

(chinadaily.com.cn)
Updated: 2009-08-28 16:15

Net profits of China's four state-owned listed banks amounted to 179.13 billion yuan ($26.22 billion) in the first half of this year, the China Securities Journal reported today.

In the first six months of 2009, Bank of China (BOC) saw net profits drop 2.51 percent year-on-year to 41.12 billion yuan and China Construction Bank (CCB) reported 55.84 billion yuan in net profits, a decline of 4.86 percent year-on-year.

During the same period, net profits of the Industrial and Commercial Bank of China (ICBC) grew 2.7 percent year-on-year to 66.61 billion yuan; Bank of Communications (BoCom) profits rose 0.30 percent to 15.56 billion yuan.

Interest revenue of ICBC, CCB, BOC and BoCom dropped 11.9, 7.75, 8.34 and 9.86 percent year-on-year, respectively.

BOC’s commission and brokerage income fell 2.64 percent year-on-year in the first half of 2009, while that of ICBC, CCB and BoCom increased 13.3, 16.13 and 17.69 percent year-on-year respectively.

Lendings from BOC grew 38 percent from the end of last year while BoCom's lendings rose more than 30 percent. Lendings from ICBC and CCB increased about 20 percent from the end of 2008.