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China’s largest mortgage bank CCB shines with record profit
Friday 29 October 2010, 17:17 clock print this article [-] Text [+] Taipei (Reuters) – China’s largest mortgage institution China Construction Bank (CCB) has recorded, despite the slowdown in the domestic real estate market in record profits.

Just in time for the preparations for a capital increase of the equivalent of eight billion euros, the financial institution on Friday was able to strengthen the hopes of investors that will improve the credit quality of Chinese banks. The CCB was indeed taken by the Government of the braking maneuver at the overheated real estate market feel. This effect, however, was offset by an increase in interest margins over.

In the last quarter earned the CCB – whose shareholders include the Bank of America and the strong financial state fund Temasek from Singapore include – the equivalent of 4.3 billion euros, just under a third more than a year ago. Industry experts, the Institute had only a half have expected large increase. Moreover, the volume of bad loans from the portfolio of the bank. “The downturn in the real estate market, the CCB does not hit as hard as investors had expected,” concluded Jennifer Chu, manager of a specialist on Asian infrastructure fund of Prudential UK bank.