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China Construction Bank posts 2.8% rise in Q1 profit

BEIJING/SHANGHAI, April 28 (Reuters) - China Construction Bank Ltd (CCB) posted a 2.8% increase in first-quarter profit as China’s recovery from the COVID-19 pandemic accelerated and stoked demand for credit in the world’s second-largest economy.

Net profit rose to 83.1 billion yuan ($12.82 billion) in the three months through March 31 from 80.9 billion a year earlier, China’s No. 2 lender by assets said in a filing on Wednesday.

$1 = 6.4841 Chinese yuan renminbi Reporting by Zhang Yan, Cheng Leng and Engen Tham; editing by Muralikumar Anantharaman and Jason Neely

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