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China Construction Bank posts worst earnings in more than a decade on bad loan surge

Summary:
[unable to retrieve full-text content]China Construction Bank, the world’s second-largest lender by assets, reported its worst earnings in more than a decade as a cascade of loans to businesses across China are going bad.Net income fell 11 per cent to 137.6 billion yuan (US billion) in the six months through June from 154.2 billion yuan a year earlier, the Beijing-based lender said in an exchange filing on Sunday. Loan loss provisions jumped 49 per cent.China’s US trillion banking system has been put on the front-line of…

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[unable to retrieve full-text content]
China Construction Bank, the world’s second-largest lender by assets, reported its worst earnings in more than a decade as a cascade of loans to businesses across China are going bad.Net income fell 11 per cent to 137.6 billion yuan (US$20 billion) in the six months through June from 154.2 billion yuan a year earlier, the Beijing-based lender said in an exchange filing on Sunday. Loan loss provisions jumped 49 per cent.China’s US$45 trillion banking system has been put on the front-line of…

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