CCB Reports Net Profit of 274.2 Billion Yuan for First Three Quarters, Up 6.55% YoY
nashnova research
China Construction Bank (建设银行, HKEX: 00939) earned RMB 274.2 billion in net profit through Q3, up 6.55% year-on-year, while operating revenue rose 11.29% and total assets neared RMB 49 trillion — revenue grew nearly twice as fast as profit, meaning higher earnings are being partly absorbed by costs and provisions.
How much did CCB earn, and how fast is it growing?
Operating revenue hit RMB 623.6 billion, up 11.29% YoY; net profit attributable to shareholders reached RMB 274.2 billion, up 6.55%.
This means → revenue growth (11.29%) ran at nearly double profit growth (6.55%). The gap was consumed by operating costs, taxes, and loan-loss provisions.
Basic earnings per share came in at RMB 1.03, a steady increase for shareholders.
Where is all that money deployed?
Total assets reached RMB 48.73 trillion by end-September, adding RMB 3.09 trillion from year-start, a 6.78% increase.
Loans outstanding stood at RMB 29.55 trillion, up 6.41%; financial investments reached RMB 14.75 trillion, up 14.38%.
This means → investment growth more than doubled loan growth. In plain terms = CCB is leaning harder into bonds and other financial assets, not just traditional lending.
Are deposits and liabilities under pressure?
Total liabilities rose to RMB 44.76 trillion, up 6.70%; customer deposits reached RMB 31.91 trillion, up only 3.47%.
This means → liabilities grew nearly twice as fast as deposits. Put simply = more of CCB's funding now comes from interbank borrowing or bond issuance, not household savings.
This reflects a sector-wide pattern: retail deposit growth is slowing, pushing banks toward more diverse funding channels.
Is bad-loan risk under control?
Non-performing loans totaled RMB 379.0 billion, up RMB 15.0 billion from year-start — yet the NPL ratio actually fell to 1.29%, down 0.02 percentage points.
In plain terms = the absolute amount of bad debt is rising, but the total loan book is growing faster, so the bad-debt *ratio* gets diluted.
The provision coverage ratio stood at 233.21%, up 0.06 pp — meaning CCB holds RMB 2.33 in reserves for every RMB 1 of bad debt. The buffer remains solid, but the upward trend in absolute NPL volume still warrants attention.
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