By Ben OttoChina Construction Bank's net profit rose 15% in the third quarter from a year earlier on higher operating income and lower credit impairment losses. China's second largest bank by assets said late Friday that net profit in the period rose to 78.85 billion yuan ($12.31 billion) from CNY68.21 billion a year earlier. Net interest income rose to CNY152.06 billion from CNY145.82 billion, it said. Net fee and commission income rose to CNY27.175 billion from CNY25.96 billion on rapid growth in wealth management services and trust and fiduciary activities, among others. The bank's nonperforming loan ratio at the end of the quarter was 1.51% versus 1.56% at the end of 2020. Credit impairment losses improved to CNY33.72 billion versus CNY49.94 billion a year ago.

Source: Wall Street Journal November 01, 2021 00:13 UTC