Construction Bank Profit Grows Most in One Year on Margin
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China Construction Bank Corp., the nation’s second-largest lender by market value, reported wider lending margins in the first quarter, helping it to post its biggest profit increase in a year.
Net income rose 10 percent to 65.8 billion yuan ($10.5 billion) for the three months through March from 59.6 billion yuan a year earlier, the Beijing-based lender said in a filing to Shanghai’s stock exchange yesterday. That compares with the 65.2 billion-yuan median of eight estimates compiled by Bloomberg News.