China Construction Bank Corp. (939), the world’s second-largest lender by market value, posted a 24 percent increase in fourth-quarter profit after higher lending and fee income outweighed provisions set aside for bad debt.
Net income climbed to 30.2 billion yuan ($4.8 billion) in the quarter, from 24.4 billion yuan, according to calculations based on full-year figures published by the Beijing-based lender yesterday. That compared with the 31.4 billion-yuan average estimate of 22 analysts in a Bloomberg survey.
If you enjoy the content at iBankCoin, please follow us on Twitter
No that’s not what this says. What it does say is that the bank set aside less money for losses…