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China Construction Bank posts 10.7% H1 profit fall

BEIJING/SHANGHAI, Aug 30 (Reuters) - China Construction Bank Corp (CCB) , the country’s second-largest lender by assets, posted on Sunday a 10.7% fall in first-half profit, the biggest profit decline during Jan-June period since its market debut in 2005.

Net profit fell to 137.6 billion yuan ($20.04 billion) for the January-June period, from 154.19 billion yuan a year earlier, the lender’s filing to the Shanghai Stock Exchange showed.

That implies a net profit of 56.8 billion yuan for the second quarter, down 26.5% from 77.27 billion yuan a year ago, the biggest quarterly fall since the fourth quarter of 2008, Reuters calculations show. ($1 = 6.8647 Chinese yuan renminbi) (Reporting by Zhang Yan, Cheng Leng in Beijing,and Engen Tham in Shanghai; Editing by Himani Sarkar and Sam Holmes)

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