The bank’s profit before tax reached RMB50.5 billion, representing a 54% growth, or an increase of RMB17.7 billion. In addition, net interest income increased steadily. Net fee and commission income increased by 102% year-on-year to RMB12.7 billion. The bank made significant achievements in risk control and successfully reduced both the amount and ratio of its non-performing loans, where the ratio fell to 2.95%.
Zhang Jianguo, president, said: In line with the world’s economic development and the robust growth of the Chinese economy, CCB responded quickly to market forces with a forward-looking perspective. This approach has allowed us to fully implement our development strategy, seizing opportunities, deepening reforms, strengthening our management, better conforming to laws and regulations, and making important innovations, resulting in overall improvements in service standards and efficiency.
In the first half of 2007, the bank achieved a rapid, healthy and steady development in operations. This helped establish a solid foundation for fulfilling our operating targets for the full year, he added.
