China Construction Bank (CCB) has released its operating results for the first half of 2019, reporting a steady growth in profitability. The bank's total assets reached RMB24.38 trillion by the end of June, marking an increase of 5% from the previous year. Profit before tax increased by 5.38% to RMB191.18 billion, while net profit rose by 5.59% to RMB155.71 billion.
"Guided by its original aspiration and mission," CCB focused on supporting China's socioeconomic development through financial sector reforms and implementing strategies such as House Rental, Inclusive Finance, and Fintech.
The bank advanced its House Rental Strategy with a comprehensive service platform operating in over 300 regions and more than 10 million registered users. It also enhanced its inclusive finance initiatives to support small businesses and rural areas, with loans reaching RMB831.12 billion.
CCB leveraged fintech innovations to enhance services and risk management, introducing projects like a blockchain service platform and exploring 5G technology applications.
In serving the real economy, CCB increased loans for infrastructure sectors and emerging industries like green credit. The balance of loans for private enterprises rose to RMB2.32 trillion.
The bank emphasized risk management improvements, maintaining stable asset quality with a non-performing loan ratio at 1.43%.
Amid international economic challenges, CCB expanded its global presence with new branches in Astana and Labuan, achieving a net profit of RMB4.34 billion from overseas operations.
CCB aims to further develop new financial paths while enhancing capabilities in risk prevention and international competition as it approaches the 70th anniversary of the People's Republic of China.