Big state-owned lender China Construction Bank (CCB) saw robust growth in profits in 2021, as the Chinese economy continued to recover from the impacts of the COVID-19 pandemic.
CCB saw net profits of 303.928 billion yuan in 2021, for year-on-year (YoY) growth of 11.09%, according to its annual report released on 29 March.
As of the end of 2021 CCB’s total assets were 30.25 trillion yuan, for growth of 7.54% that year. Total liabilities were 27.64 trillion yuan, for growth of 7.37%.
CCB’s net interest revenues grew 5.12% in 2021 compared to the previous year, while net processing fees and commissions rose by 6.03%.
Operating revenues totalled 824.246 billion yuan in 2021, for growth of 9.05%, while total profits were 378.412 billion yuan for YoY growth of 12.42%.
As of the end of 2021 CCB’s non-performing loan (NPL) ratio was 1.42%, for a decline of 0.14 percentage points compared to the end of the previous year, while its capital adequacy ratio was 17.85%.