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China Construction Bank Announces 2017 Q1 Results
China Construction Bank Announces 2017 Q1 Results 
Published time:2017-04-27 
 

Core Indicators Achieving Steady Performance and Profitability Continuing to Improve 
Beijing/Hong Kong, 27 April 2017 – China Construction Bank Corporation (“the Bank” or “CCB”) (A-share stock code: 601939; H-share stock code: 939) released its results for the first quarter of 2017 (the data herein were prepared under the International Financial Reporting Standards on a consolidated basis and expressed in RMB unless otherwise stated). As at 31 March 2017, the Bank’s total assets reached RMB21,695.204 billion, an increase of RMB731.499 billion, or 3.49%, from the end of 2016. 
  
This year, CCB has continued to make significant progress in its strategic transformation efforts and proactively responded to a changing external environment to achieve steady performance in its core indicators and steady increases in profitability. In the first quarter of 2017, the Bank reported a net profit of RMB70.231 billion, of which net profit attributable to equity shareholders of the Bank was RMB70.012 billion, up by 3.42% and 3.03% year-on-year respectively. Annualized return on average assets and annualized return on average equity were 1.32% and 17.63% respectively. 
  
As of 31 March 2017, the Bank’s total loans and advances to customers increased by RMB414.514 billion, or 3.53%, from the end of 2016 to RMB12,171.546 billion. Deposits from customer amounted to RMB16,232.198 billion, increasing by RMB829.283 billion, up by 5.38% compared with the end of 2016. 
  
In addition to the steady growth of deposits and loans, the Bank’s net fee and commission income for the first quarter of 2017 increased by 1.02% year-on-year to RMB38.767 billion. Credit cards, wealth management products and e-banking recorded a rapid growth, with the custody business, corporate RMB settlement business and international settlement business also achieving a solid growth. 
  
With regard to asset quality, CCB followed the changes of national industrial policy. In line with the trend of industrial upgrading and supply-side structural reform, the Bank took the initiative to adjust credit structure and apply strict risk controls. The Bank has continuously improved its overall risk management system, and also conducted a number of compliance pilot projects including the compliance officer system and the building of a new compliance system. with the Bank introduced  the big data and systemic computer control measures has and strengthened a three-dimensional defence line for compliance in the front, middle and back offices. The Bank drove innovation in the market-based methods of disposal of non-performing loans (“NPLs”) and increased the efficiency. The quality of credit assets also remained stable on the whole. As of the end of March 2017, the Bank posted NPLs of RMB184.511 billion, with the NPL ratio of 1.52%, same as the end of 2016; and the ratio of allowances to NPLs at 159.51%, up by 9.15 percentage points from the end of 2016. 
  
As the results of the first quarter indicates, as of 31 March 2017, CCB’s total capital adequacy ratio, tier-1 ratio and common equity tier-1 ratio, which were calculated in accordance with the Capital Rules for Commercial Banks (Provisional), were 14.82%, 13.14% and 12.98%, respectively, all being in compliance with the regulatory requirements. 
  
Overall, CCB has sustained a good business performance in the first quarter of 2017. CCB’s strategic transformation, continuously pushed forward with greater depth and breadth, has shown immense vitality. In an increasingly complex external environment, CCB has strengthened its business and made positive achievements in serving the real economy, as well as proactively supporting supply-side structural reform and critical national strategies such as “One Belt and One Road” economic initiative and the integrated development of Beijing-Tianjin-Hebei region. The outstanding performance in CCB’s core business lines of strategic transformation has guaranteed the steady improvement of CCB’s business capability. 
  
About China Construction Bank 
  
China Construction Bank Corporation, established in October 1954 and headquartered in Beijing, is a leading large-scale joint-stock commercial bank in Mainland China. The Bank was listed on Hong Kong Stock Exchange in October 2005 (stock code: 939) and on the Shanghai Stock Exchange in September 2007 (stock code: 601939). At the end of 2016, the Bank’s market capitalisation reached US$192.6 billion, ranking fifth among listed banks in the world. The Bank gained the second place among the “Top 1000 World Banks” in 2016 in terms of total tier-one capital by the UK magazine The Banker. 
  
With 14,985 branches and sub-branches in Mainland China at the end of 2016, CCB has 362,482 employees and provides services to millions of personal customers and corporate clients, and maintains close cooperation with the leading enterprises of strategic industries in the Chinese economy and a large number of high-end customers. CCB has established commercial-banking branches and subsidiaries in 29 countries and regions around the world and owns a total of 251 overseas branches of all levels. The Group’s subsidiaries also cover multiple business areas, such as mutual funds, financial leasing, trust, life insurance, property insurance, investment banking, futures and pension. 
  
By accelerating the transformation in five aspects to build a banking group featuring integrated operation, multifunctional services, intensive development, innovative banking and smart banking, CCB is dedicated to creating the highest value for its stakeholders, accomplishing the combined goals of short-term and long-term benefits, and those of business operation and social responsibility, and ultimately realising maximum value for the customers, shareholders, society and employees.