China Construction Bank net profit up 1.45% in 2016

BEIJING - China Construction Bank Corp said on Wednesday its net profit in 2016 rose 1.45 percent to 231.46 billion yuan ($33.6 billion), buoyed mainly by commissions and fees.

The bank's annual report showed its net interest income fell 8.73 percent year on year to 417.8 billion yuan, while net commission and fee income rose 4.39 percent year on year to 118.5 billion yuan last year.

The bank reported that its bad loan ratio fell 0.06 percentage point to 1.52 percent by the end of 2016.

Meanwhile, the bank's non-performing loans stood at 178.69 billion yuan.

By the end of last year, its total assets surged 14.25 percent year on year to 20.96 trillion yuan on increasing loans and investments.

The combined onshore assets of China's "big five" lenders -- the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Bank of Communications -- came in at 83.1 trillion yuan by the end of last month, accounting for 36.1 percent of the total assets in the industry, data released by the China Banking Regulatory Commission showed on Tuesday.

Agricultural Bank of China on Tuesday said its net profits rose 1.8 percent year on year to 184 billion yuan in 2016.